It is becoming increasingly easier for crypto traders in Nigeria to convert their Bitcoins to Naira almost instantly. Bitcoin to Naira in Nigeria, Thanks to many crypto applications now offering instant cash conversion services, people no longer need to trade peer-to-peer and wait for hours to get access to their money.
Now it is possible to instantly convert cryptocurrency to fiat money using crypto apps that allow transferring money to users’ bank accounts in Naira. The following are some of the leading services that offer such an opportunity: Monica, Breet, Cash-in, LoadNG, and QuickChain. Read on to learn how it works.
Top Cryptocurrency Exchange Platforms to Convert Bitcoin to Naira
Here are some of the leading crypto exchange platforms that offer instant cash from crypto in Nigeria.
Monica
One of the fastest crypto trading applications where users can sell and buy different coins, including BTC, ETH, and USDT, in exchange for Naira in as little as 60 seconds.
Breet
Breet is becoming a preferred platform for Nigerian cryptocurrency users since it offers an automated exchange feature.
Once Bitcoin is deposited into the wallet provided by the app, it is automatically exchanged to Naira and deposited into the user’s bank account without having to trade manually.
Cash-in App
Cash-in platform offers users a wallet address that helps with the conversion of the deposited Bitcoins to Naira. The funds are then paid directly into bank accounts in Nigeria.
LoadNG
LoadNG is known for providing instant sales of Bitcoin together with bank withdrawal services. This makes it the best option for people who want a simple exchange from cryptocurrency to fiat money.
QuickChain
QuickChain provides the ability to exchange cryptocurrency for Naira. In addition, users may take advantage of other services offered, such as utility bills and storage of local currency balance.
How to Exchange Bitcoin to Naira via Mobile Device
The procedure is quite easy and takes only a few minutes to complete.
1. Download and Verify the Application
Download the application you have decided to use in exchanging cryptocurrency for Naira and verify your identity using a genuine Nigerian identification number, such as NIN, Driver’s License, or International Passport.
2. Create a Bitcoin Wallet Address
Go ahead and create a Bitcoin wallet by choosing this option in the app. This is the address to which you would send your Bitcoins.
3. Send Your Bitcoin
Transfer Bitcoin from another external wallet or any other crypto exchange platform to the wallet address created in the step above.
4. Sell Bitcoin for Naira
Once the transaction gets confirmation on the blockchain network, go ahead and choose to sell Bitcoin, selecting Naira as the receiving currency. Funds would be withdrawn straight to your account.
Reasons Why Nigerians Are Using These Crypto-to-Naira Apps
These apps do away with the hassle of searching for someone to trade with. There is no risk of dealing with strangers or conducting lengthy discussions.
Most of the time, the process involves automatic transactions, and there is an instant transfer once Bitcoin is exchanged into local currency. This makes it easy for freelance workers, tradesmen, or even investors to make instant cash.
Conclusion
With the growing use of cryptocurrency in Nigeria, many apps like Monica, Breet, Cash-in, LoadNG, and QuickChain are helping Nigerians get their hands on their local currency in just a few clicks.
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