If you have Bitcoin you are probably wondering how to cash it in for Naira. Luckily, there are several ways to convert your digital currency into physical cash and exchange it for goods and services in Nigeria today. Let’s take a look at them below!
How To Buy Bitcoins
If you’re reading this post, chances are you already know about Bitcoin. If not, no worries! Bitcoin is a virtual currency that allows you to make instant payments online.
It is also safe and secure because it uses cryptography to create special links that verify each transaction. So, how do you buy Bitcoins? Follow our step-by-step guide to getting started: Setting Up A Wallet The first thing we need to do is set up a digital wallet where your Bitcoins will be stored.
How To Sell Bitcoins
It is important to remember that bitcoin has very little in common with fiat money, which can be printed at will out of thin air by central banks. Bitcoins, on the other hand, must be mined using computing power in a distributed network and only 21 million bitcoins will ever be created.
That scarcity will drive up demand and could potentially boost Bitcoin’s value over time.
Final Thoughts
If you’re looking to buy Bitcoin in Nigeria, there are a number of options available to you: You can use Bitpesa to send money internationally; they will then convert your fiat currency into Bitcoin. You can use Luno, which is another Nigerian platform.
However if you want to buy and sell bitcoin in Nigeria one of your best options is LocalBitcoins.
Secure & Safe
The best way to sell bitcoin in Nigeria is with a cryptocurrency exchange. Cryptocurrency exchanges are websites where you can buy, sell, and trade cryptocurrencies for other assets, such as conventional fiat money.
However, before we get into our recommendations for Nigerians who want to trade bitcoin or other cryptocurrencies for fiat currency, let’s cover some security basics. The first rule of selling your cryptocurrency is that you should never ever store it on an exchange – if a company gets hacked and lose your cryptocurrency, it’s gone forever.
The safest way to store your bitcoins (and keep them safe from hackers) is through hardware wallets like Trezor or Ledger Nano S.
Quick Payment
When selling your bitcoin online in Nigeria, you’ll want to choose a payment service that can pay you quickly. Many payment services will require confirmations on your end before sending out a wire transfer for USD or NGN.
To avoid waiting days for your money (while still maintaining your privacy), seek out exchanges with instant payouts. There are several reputable exchanges that offer quick transactions and zero confirmations; some of these are Paxful, LocalBitcoins, Remitano, and Wall of Coins.
If you’re more confident in exchanging local currency instead of bitcoin, other options like PayPal or Skrill can be used as well. There are many ways to convert your bitcoin into fiat currency choose an option that’s comfortable for you!
Online Support
Being a blockchain-based exchange, users can trade any amount of Bitcoin for any other form of cryptocurrency with no restrictions or limitations.
On top of that, there are no listing fees or subscription costs. Traders from all over have been flocking to Bitfinex because it is one of the only exchanges that offer high liquidity and superior trading features such as stop losses and advanced order types like limit, market and stop-limit orders.
These features make it easy to maximize your profits when trading on Bitfinex! If you’re looking for a great place to sell your Bitcoins in Nigeria, look no further than Bitfinex.
High Pricing
Buyers want to buy coins for as low a price as possible, but there’s not much incentive for sellers. As a result, no one wants to list their coins at an artificially low price. You can think of supply and demand like a see-saw.
When demand goes up, prices go up too, and when it falls, prices fall with it.
This constant seesaw keeps prices at roughly market value we’re simply waiting on more people to jump on board before we start seeing those huge gains again.
The Bottom of Life
Sadly, for many people, home ownership is a distant dream. Financial problems, poor credit and other issues can be prohibitive. Most people who want to buy a house are looking for inexpensive ways to buy real estate.
The good news is that there are some simple steps you can take to start buying properties even if you have little money to invest and bad credit history. Many homeowners have gotten where they are by learning how to buy real estate with no money down or very little cash.
