Here is the step-by-step guide of “How to sell Bitcoins in Nigeria” for those who are just beginning their crypto journey.
Main points:
– Where to sell BTC in Nigeria
– How to choose a platform
– Withdrawal methods
– When it’s best time to sell BTC
Where to sell your Bitcoins in Nigeria
To start trading BTC, first, you will have to find a suitable platform where you will be able to store and sell it. When deciding what the best app to sell your bitcoin in Nigeria is, you will have to compare some of them based on fees, withdrawal methods, and costs. Here are some of the best platforms, that you may use to buy and sell BTC. Each of them varuy in fees and transaction times, so take a look at some of them:
1. Breet
Breet is one of the popular crypto exchanges in Nigeria. However, Breet does not use the P2P exchange method. Breet is an automated crypto-to-fiat mobile application that makes use of the OTC system.
You can convert your BTC to cash and withdrawstraight to your bank account. Not limited to that, you can as well trade Ethereum, Litecoin, Bitcoin cash, Dogecoins and more using Breet.
What is extraordinary about Breet is that there are no fees and no additional charges.
2. Binance
There is no crypto trader, who hasn’t heard about Binance. It is all because it is one of the best crypto-exchange platforms worldwide. Here you can make fast withdrawals, P2P withdrawals, and all this will low fees.
3. Kraken
Kraken is another great world-known trading app where you can sell your BTC. Your transactions can be easily made with SWIFT, SEPA, and bank transfer methods.
How to easily Exchange Bitcoin in Nigeria
– Sign-up
Decide what crypto platform is the best for you and start signing up. All the platforms listed above have a Bitcoin option, so you are not limited in making your choice.
During registration, you may be required to go through some verification, depending on what platform it is.
Most platforms require all these steps so they will have to be sure that you are a real person.
– Deposit BTC to your account
After choosing a platform that suits you, go to your account and generate a BTC wallet address. This wallet is yours, most times, it doesn’t change. With it, you can store or receive bitcoins. This wallet will help you receive BTC wherever you go.
– Selling BTC
After you have bought BTC and it is now in your BTC wallet, you will have to find a person to buy it if you are using P2P as a way for trading BTC. If you are using an OTC trading system like BREET, the process is automated and instant with no manual intervention.
How to choose the best platform for BTC trading?
BTC trading should be based only on your personal tastes and interests. To find the platform to make your trading easy, you will have to research what each platform has to offer. Some of the platforms are faster; however, they have more high fees. Some of the platforms mainly use P2P and may be slow. What is better for other people may not suit you. To make your crypto way easier, consider these questions:
– Do you want to sell BTC or exchange it for another crypto?
– How fast do you want your transactions to be?
– What deposits are allowed in your bank?
After you have moved to choose a platform, consider these steps.
– Price. Look for a crypto platform with the best market cost for your budget.
– Fees. Consider fees that every platform has. Look which prices each of the platforms has for withdrawing fiat.
– Limits. Look for withdrawal limits that each of the crypto platforms has.
– Security. The most important part is to make sure that the platform you are willing to use is secure.
– Customer support. Most people don’t think about it when choosing a platform. However, it may be one of the crucial steps as customer support is the one who will help you in case of any emergencies with your funds and transactions.
– Credibility. Don’t forget to check out the reviews for each platform and see what people say about BTC transactions. Also, bad reviews are the best way to find out the weak places for each platform.
Withdrawing fundsAftering Trading Your Bitcoins
Making a crypto platform the primary source for saving your crypto assets may not be the best idea. When you have changed your crypto to fiat, take a look at what choices does the platform offer for withdrawal. Such include:
– Bank transfer
– Debit card
– Internet banking
And here are a few factors to consider in terms of withdrawal:
– Charges: It may be little, but it adds up over time. What are the charges attached to withdrawal?
– Limits: Look for the limits of funds that you can withdraw. Some of the crypto platforms may allow you to withdraw more funds if you have extra verification.
– Speed: It’s essential to understand how long your withdrawal will take.
Is now a good time to Sell BTC?
However, the crypto market is pretty tricky, and nobody can predict what will happen in the future; the crypto market can still be analyzed. You should follow the latest bitcoin news and trends to see how BTC prices changed during the last weeks and months and whether you can see any uptrend coming.
Conclusively, it’s never a good or bad time to sell or not to sell bitcoin, ensure to do your own research.
