A major feature of every cryptocurrency is its volatile nature which could be an advantage or disadvantage sometimes. Bitcoin is referred to as the king of all cryptocurrencies majorly because of this feature.
We can recall that what we can call the digital gold of today was once selling below $1 some years ago. Sometimes, it’s impossible to imagine the magnitude of value Bitcoin has gained from the time of its creation to this day.
The volatile nature of Bitcoin has inspired many crypto investors to acquire more Bitcoins and adopt them as their best investment portfolio.
However, with each passing day, Bitcoin holds fast to its crown and continues to grow in value, even though the price is affected by the bear market at intervals.
For example, the current bear market has plummeted the price of Bitcoin from its all-time high of $67,000 in November 2021 to less than $20,000 today.
Nonetheless, this development has not deterred Bitcoin investors from holding their portfolios, knowing that the price can spike above the last recorded highs even before the year ends.
Due to the volatility of Bitcoin, the price changes oftentimes and it’s impossible to put a fixed price on the cryptocurrency.
What is 1 Bitcoin price in Nigeria? Is there a way to check the live price of Bitcoin in Nigeria?
This article will give a detailed guide and answers to these questions.
Where To Buy Bitcoin In Nigeria
Many centralized crypto exchanges are operating in Nigeria where one can buy Bitcoin. Given that Bitcoin is a digital currency and asset as well, it can only be purchased online, on reputable exchange platforms such as Binance, Coinbase, Paxful and many others.
One of the major digital asset trading platforms, Prestmit has recently announced to the users of its plan of launching a new feature on the platform which will allow them to also buy Bitcoins on the platform.
It is important to know that these platforms will elicit some vital personal information from you through the Know-Your-Customer (KYC) policy. This is to ensure that customers’ details are recorded and their transactions traced when necessary.
How Much Is 1 Bitcoin Price In Nigeria
The price of Bitcoin in Nigeria changes every second because of the volatility of Bitcoin and every Bitcoin trader needs to understand how this price is given.
However, this is not a problem when you know where to look at any time. Almost all the crypto exchange platforms display the live price of Bitcoin on their platforms. There is also a converter that helps users to convert the dollar value of Bitcoin to Naira and vice verse.
The global price of 1 Bitcoin is currently at the price of $19,108.49. According to Prestmit, 1 Bitcoin in Nigeria is equivalent to #13,627,623.24 at the time of writing this article and this was calculated with the current market rate of 690/$.
While this price may not be accurate for the next few hours, you can always check the live price of Bitcoin in Naira using the Bitcoin wallet page on the Prestmit platform.
Where Can I Sell Bitcoin In Nigeria
There are many places one can sell Bitcoin in Nigeria but you have to understand that Bitcoin trading is a delicate venture which requires caution.
A lot of dubious platforms pose under the guise of crypto trading to defraud people of their digital assets. On the other hand, some of the platforms may not be dubious but substandard and unbefitting for a crypto trading platform.
One should carry out underground research to investigate the best crypto trading platform to sell Bitcoin.
However, you may not concern yourself with this hectic task of scouting for the best platform because we have done that already and waiting to share this little secret with you.
The best crypto trading platform to sell your Bitcoin in Nigeria is Prestmit.
Even though you may not be able to buy Bitcoin on Prestmit yet, you can be sure to enjoy the best trading offer on this seamless crypto trading platform.
On Prestmit, Bitcoin trading is as fast as lightning and payment to your Prestmit wallet is instantaneous. The platform is user-friendly with a good user interface, highly secured and offers multiple payment options.
Aside from all these qualities earlier mentioned, the most interesting thing is that this platform offers the best rates on your Bitcoin trades while giving users multiple options of payment.
How Much Can I Get For $100 Bitcoin In Nigeria
Now that you have learnt about the right place to trade your Bitcoin, you may be wondering how much you’d get back from your sales.
Remember that the chief trademark of Prestmit is the high rates it gives the users on their trades.
For example, if you want to exchange a $100 Bitcoin on Prestmit, you’d be paid $67,000 into your Prestmit Naira wallet which you can withdraw at any time.
This is the best live rate in the market, so why not rush to Prestmit and enjoy a new trading experience?
How To Sell Bitcoin In Nigeria
It is not enough to show you the best place to sell your Bitcoin in Nigeria without giving a guide on how it can be achieved.
Exchanging Bitcoin for Naira is best done on Prestmit, not just because it gives the best rates but also because the processes are short and clear.
Below are the few steps with which you can sell Bitcoins in Nigeria.
- Download the Prestmit app from Google Play Store or App Store, and register with your correct data.
- Click on “Buy and Sell Cryptocurrency“
- Click on “Sell Cryptocurrency“
- Select “Sell BTC”
- Copy the Bitcoin Address on the Bitcoin Wallet page: If you’re a new user, the system will demand that you generate a permanent Prestmit BTC wallet which you can use anywhere.
- Confirm Default Fiat Wallet: Confirm the default wallet you’d like to use for the payment automatically. You can choose either the Naira or Cedis wallet.
- Receive your Bitcoin from an external address.
- Wait for the blockchain to give three confirmations on the transaction. While this is happening, your transaction status will show “PENDING“.
- When the trade reads “SUCCESSFUL“, you can withdraw your fund from your wallet.
In summary, the Bitcoin price is not fixed, it is quite volatile and can be checked at any time on any of the Bitcoin trading platforms.
However, the rate at which Bitcoin is converted to naira is relative to many factors like the general market exchange rate and the platform in question.
Prestmit is a tested and trusted Bitcoin trading platform in Nigeria with the propensity of offering the best rates to users.