Bitcoin News in Nigeria

Top 10 Apps To Sell Bitcoins In Nigeria Right Now (2022)

There is the presence of a large crypto community in Nigeria which means there are various apps to trade Bitcoins.

Nigeria is ranked second in the list of the nation that has the largest crypto, only behind the USA. According to Statista data, Nigeria is listed top of countries using crypto the most. 32% of the over 170 million population deals with crypto, making it number one in Africa.

The Central Bank of Nigeria’s ban on crypto deals in its financial institution has aided the use of P2P platforms for trading BTC & other assets. P2P platforms have increased not only in Nigeria but other African countries. This has made the continent top P2P payment platforms in terms of transaction volume across all regions.

In this post, we’ll learn about Bitcoins and the best app to use for selling the token in Nigeria today.

What is Bitcoin?

Bitcoin is a decentralized digital currency, without a central bank or single administrator. It can be sent from user to user on the p2p bitcoin network without the need for intermediaries.

The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.

As of today, Bitcoin is the largest and most popular cryptocurrency. Several other coins have been created using its model and are known as altcoins i.e. alternative currency.

Why You Need To Consider Bitcoin In 2022

Although Bitcoin had a dip in January 2022, it still remains top on the list of crypto investors worldwide. Here are 3 reasons you need to consider Bitcoin today. They are listed below-

1. Bitcoin acceptance is on the rise- Bitcoin is gradually gaining ground in our world today. Its acceptance has been widely spreading to many popular companies worldwide. The number of users of BTC has also been on the rise. This is to show that BTC is here to stay for a long time.

2. Bitcoin investments continue to grow– The number of people investing in BTC has grown over the years. According to reports, the number of investors who are purchasing Bitcoin via platforms such as PayPal and CashAPP have been steadily growing. The numbers of users on various crypto exchanges have greatly increased too.

3. Bitcoin is suited for the macro investment environment– At a time where many governments are going through bailouts and other crises of their own, BTC is a good for investment. During these times of crises and pandemic, it is easy to see the unique value proposition that BTC has to offer.

Selling Bitcoin In Nigeria

Traders make profit from Bitcoins by buying, selling, holding or mining the crypto asset. Nigerians are not left out as they look to earn from Bitcoin by selling their coins at the right time.

Although there was a time Nigerians were wary of performing transactions with Bitcoin, due to fear of scams. But with an enhanced technology put in place to safeguard crypto loss, such fear has been allayed. Nigerians are beginning to foster their trust in cryptocurrency while trading in Bitcoin steadily.

P2P platforms are now being used to safely transact in Bitcoin or other cryptocurrencies without being scammed.

Top 10 Apps To Sell Bitcoins In Nigeria Right Now

Several Bitcoins trading company have mobile applications created to buy and sell Bitcoins. The best, trusted and reliable apps to sell your Bitcoins are listed here.

1. Prestmit App

Prestmit has just launched the new version of its mobile app which makes it the talk of the town right now. The latest version is much faster and easier to give users a better experience. The app can be used for your Bitcoin trading. USDT, Dogecoin, and Litecoin are also available on this platform at better rates.  Prestmit app is available both on Google Play Store and Apple iOS store.

2. Remitano App

Remitano is one of the most frequently used P2P exchange in Nigeria. It provides an escrowed P2P platform that connects buyer and sellers to deal with themselves on its mobile app. You can sell your Bitcoins as well as other assets like Litecoin, Ethereum, USDT, etc on the platform.

3. Binance App

Binance is one of the leading crypto exchanges in the world. The Binance App is not without Nigerian users. You can sell your Bitcoin on this platform. The best part of it is that you are being charged minimum fees for posting offers or transacting on the platform.

4. NairaEx App

NairaEx is the largest Bitcoin exchange in Nigeria today. Crypto traders can buy and sell Bitcoins on its app with perfect money, bank transfer or with cash via bank deposit. Although it’s ID verification offer less privacy than other P2P platforms in Nigeria, it is however the long-running Nigerian exchange.

5. Paxful App

Paxful supports only the buying and selling of Bitcoins. The app supports up to 300 methods of payments and serves 200 million users. It is just one of the top apps to use for your Bitcoins trading in Nigeria.

6. Cryptolocally App

Cryptolocally is a non-custodial P2P exchange that was launched in 2019. It differs from other P2P platforms because it is the first P2P exchange to adopt a decentralised governance system. On its app, you can trade Bitcoins and other cryptocoins like DOGE, USDT, Ethereum and so on.

7. Paybis App

Paybis is one of the popular crypto exchanges. They serve 180 countries which includes Nigeria and USA. The company’s mobile app supports Bitcoin trading. Paybis offers incredibly high limits and super fast payments. It’s ID verification is in 5 minutes while there are large selection of payment methods.

8. Luno App

Luno is a BTC exchange company. The company is present in Nigeria, South Africa, Singapore, Malaysia and Indonesia. The luno app can be used for Bitcoins trading. It offers an instant buy feature with free deposits and low withdrawal fees. Asides BTC, the luno app can also be used to trade Ethereum.

9. BitPesa App

BitPesa is a  Bitcoin remittance platform. The company has its presence in Nigeria, Uganda & Kenya. You can buy and sell Bitcoins with BitPesa’s mobile payment service. Traders can conveniently use BitPesa to buy Bitcoins with your debit card or Paga account.

10. LocalBitcoins App

LocalB an escrow service which also helps to match Bitcoin buyers and sellers. LocalBitcoins support the buying and selling of Bitcoins on its App. Buying BTC via an in-person meeting is secured and facilitated by LocalBitcoins. This is seen as one of the fastest and most private ways to buy Bitcoins in any country. The company has its presence not only in Nigeria but also in USA, Europe, Singapore, Canada, Australia etc.

Also Read- How To Buy Bitcoins In Nigeria In 2022