There is a large crypto community in Nigeria, meaning there are a lot of apps you can use to sell Bitcoins.
Nigeria is ranked second in the list of a nation with 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 a top P2P payment platform in terms of transaction volume across all regions.
This post will teach you about Bitcoins and the best app for selling BTC 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 intermediaries.
The cryptocurrency was invented in 2008 by an unknown person or group using Satoshi Nakamoto. The currency began to 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 of 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 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 shows 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 purchasing Bitcoin via platforms such as PayPal and CashAPP has been steadily growing. The number of users on various crypto exchanges has greatly increased too.
3. Bitcoin is suited for the macro investment environment– When many governments go through bailouts and other crises, BTC is good for investment. During these times of crises and pandemics, it is easy to see BTC’s unique value proposition.
Top 10 Apps To Sell Bitcoins In Nigeria Right Now
Several Bitcoins trading companies have mobile applications created to buy and sell Bitcoins. The best, trusted, reliable apps to sell Bitcoins are listed here.
1. Prestmit App
Prestmit has just launched a new version of its mobile app, making it the town’s talk 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 on Google Play Store and the Apple iOS store. It is the best bitcoin to naira app online.
Finally, watch the video below to learn how to sell bitcoins on Prestmit.
On a side note, Prestmit is also one of the best 5 gift card trading apps in Nigeria.
2. Remitano App
Remitano is one of the most frequently used P2P exchanges in Nigeria. It provides an escrowed P2P platform that connects buyers and sellers to deal with themselves on its mobile app. You can sell Bitcoins and 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 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 cash via bank deposit. Although its ID verification offers less privacy than other P2P platforms in Nigeria, it is a long-running Nigerian exchange.
5. Paxful App
Paxful supports only the buying and selling of Bitcoins. The app supports up to 300 methods of payment and serves 200 million users. It is just one of the top apps for your Bitcoins trading in Nigeria. It is strictly P2P, which is what makes it different from Luno.
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 crypto coins like DOGE, USDT, Ethereum, etc.
7. Breet App
Breet is one of the popular crypto applications. They serve 2 countries which include Nigeria and Ghana. The company’s mobile app supports Bitcoin, ethereum, dogecoin, litecoin, bitcoin cash and USDT trading. Paybis offers incredibly high limits and super fast payments. Its ID verification is in 5 minutes while there is a 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. Aside from BTC, the luno app can also trade Ethereum.
9. BitPesa App
BitPesa is a Bitcoin remittance platform. The company has a 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 their debit card or Paga account.
10. LocalBitcoins App
LocalBitcoins is 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 one of the fastest and most private ways to buy Bitcoins in any country. The company has a presence not only in Nigeria but also in the USA, Europe, Singapore, Canada, Australia etc.
About Selling Bitcoin In Nigeria
Traders 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 enhanced technology put in place to safeguard crypto loss, such fear has been allayed. Nigerians are beginning to steadily foster their trust in cryptocurrency while trading in Bitcoin.
P2P platforms are now being used to safely transact in Bitcoin or other cryptocurrencies without being scammed.
Also, Read – How To Buy Bitcoins In Nigeria.