Give it to Stablecoins for maintaining a stable price and not being as volatile as Bitcoin or other Altcoins. Tether is called a stable coin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether given. They stay on their value for a long period of time and double as coins you can swap or convert your big cryptocurrencies such as Bitcoin, to.
Quite a number of people have attested to the fact that swapping their Bitcoin into Stablecoins is more preferable to swapping it directly into naira in your Nigerian naira wallet address because of the price fluctuation of naira. And if the Stablecoin is also on an exchange, you can also use it to buy bitcoin on the exchange. For USDT, there are 3 key things from all you need to know about USDT, whether you are a beginner or a master trader, in Nigeria. They include; when to buy USDT, where to buy USDT, how to sell USDT. On this article, we are focusing on how to sell USDT for naira, majorly for people in Nigeria.
Sell USDT For Naira in Nigeria
The only proven way to sell USDT for naira is to trade on an exchange platform that allows it. Only a few exchanges however support the sale of USDT to naira. And majority are peer-to-peer, which traders claim to be difficult and costly to sell USDT in Nigeria. Exchange brokers operate by buying USDT or cryptocurrencies in large quantities in Nigeria. If you want to convert your USDT to naira on such platforms, your wallet address will be required. Once you transfer the coin, the agreed amount will be transferred to account. From our research on top best cryptocurrency exchanges in Nigeria, one of the platforms that supports exchanging your USDT to naira in Nigeria is Prestmit. And one of the perks of using this platform, is the free wallet address you get once an account is created with them.
To Convert Your USDT to Naira on Prestmit, all you have to do is download the mobile app and register an account. If you already own one, just log in. Thereafter, go ahead to the trade page , start a USDT trade and send the coins to any of the addresses given, that fits your plan. Deliver the screenshot of the trade, then give it a few minutes, and you will get credited to your wallet balance at the corresponding rate.
Bonus Articles
What To Look Out For In A Cryptocurrency Exchange
How To Get Started With Litecoin And Frequently Asked Questions
