Where can i sell my bitcoin in nigeria

There are a bunch of reasons why you might want to buy bitcoin in Nigeria. Do you want to day trade it? There are so many platforms that you can use to open a bitcoin wallet in Nigeria , so you can use it to buy bitcoin in Nigeria. However, for every one of them, their prices change in real-time.

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WATCH RELATED VIDEO: How to Sell Bitcoin in Nigeria Using BuyCoins Africa

Legality of cryptocurrency by country or territory

Almost everyone have somehow heard of Bitcoin. For some others, their question is if it is legal and how can they start, while for some others the question is what can they do with Bitcoin. In this article we will look at how to invest and make money from Bitcoin in Nigeria. Bitcoin is simply digital money, meaning that unlike Naira or US Dollar that makes use of paper, Bitcoin is completely paperless.

It was created with the intention of making it easier to move money from country to country, some even call it borderless money.

Bitcoin, unlike regular currency fiat , is not controlled by any single individual, organisation or government rather is controlled by Bitcoin users around the world. As to whether it is legal, in some countries it has been tagged as illegal although it is difficult to restrict people from using bitcoin. Regarding what can you do with Bitcoin in Nigeria, a couple use cases are: using it as an investment vehicle to diversify your assets; trading by making gains off the price fluctuation just like forex trading.

Bitcoin can also be used to transfer money across borders faster and cheaper. A couple years ago the reverse was the case but with platforms like Binance , investing in Bitcoin from Nigeria is seamless. Binance is the largest crypto exchange in the world with over 13 million users around the world. You can start investing in Bitcoin with as low as N50 and can fund your account with either your debit or via bank transfer.

Note: Due to CBN regulations, deposit via debit card is no temporary suspended, you can deposit and withdraw via P2P section of Binance, it is easy and fast. Once you sign up and verify your account , just go to the P2P section. Note: Due to CBN policy, use the below method to deposit naira. Note: You can also use the P2P method to buy bitcoin directly. If you do not have the time or you are not very knowledgeable to trade Bitcoin or any other cryptocurrency, the good news is that you can use a crypto trading bot.

The trading bot will trade for you and make money for you even while you sleep. The bots use different signals to trade. The best crypto trading bot is Cryptohopper. First, you need to open a Binance account. Then follow the instruction above to deposit funds into your finance account. Once you have done that, sign up for a Cryptohopper account.

Then connect it to your Binance account. Set everything up. Editorial staff. Please only how to buy btc has been explained here if I want to sell who do I sell to and how do I source for buyers thanks pls am looking forward to ur reply. How do I get educated on how to trade first before I can venture into it? I need more information. I need to gather enough information please. I want to start investing in Bitcoin. How may I start it now? Please am really interested in this Bitcoin can I start with 3k and when can I sell my Bitcoin Please reply.

The least amount you can deposit depends on you and the medium you are using. With Binance, you can start with via P2P. Both Binance and Luno are okay. But Binance is by far the largest crypto exchange in the world, which means more people to trade with via p2p and other perks. However, Luno is more localized. In terms of crypto exchange, Binance is the standard others hope to meet or surpass.

Both are good. Thanks a lot for this. I have been wondering how to create an account and fund it. Please, how would I know if it is the best time to sell out my Bitcoin and what site buys in an higher rate?

I am Nuhu Usman Kawo, I love how technology is making things to be easier, fast, and convenient. But just at it is; in any business that you are doing, there must be risk. What are the risk you need to take note of before or after investing in binance. Thank you. There are many people out there who claim to be trading on Bitcoin.

Can these type of claim true about Bitcoin trade and can these people be relied upon? I am interested and may wish to trade in Bitcoin. How will start earning when my bank details are not known. Editorial staff MakeMoney. It is the most read personal finance platform in Nigeria. Link me to the bitcoin sign up app WhatsApp [removed]. I want to start investing in Bitcoin how can I start pleae Reply. Can i start bitcoin with naira Reply. How do I know the right time to sell my Bitcoin? Hello, yes, kindly send an email to admin makemoney.

What is the least amount in niara I can start with Reply. What is the least amount in naira I can start with Reply. If I start with how much can I make in a month Reply. If i start with how much can I make in a year Reply. If I invest how much can I make annually Reply.

Pls reply to me, am serious about the business Reply. Please only how to buy btc has been explained here if I want to sell who do I sell to and how do I source for buyers thanks pls am looking forward to ur reply Reply. Hello,please I want to bictoin plan or meun you can WhatsApp me through [removed] ,thanks Reply. Please sir, how reliable is Quidax? How can I make profit Reply. Please can you coach me? Btc had been banned by cbn, how can one go about the business now?

Is there a WhatsApp group for training and coaching for Bitcoin Reply. I want to create an account how can I?

I need to gather enough information please Reply. Hi will the deposit still work now that Crypto is banned? Can I Invest in bitcoin with 4k Reply.

Pls naira is equal to hw many bitcoin Reply. I just created a bitcoin wallet on Luno but yet to deposit Between Binance and Luno which one works best in Nigeria? Hello Sly, The least amount you can deposit depends on you and the medium you are using. Congratulations on your new Luno Wallet.

I hope the response was quick enough. Greetings, Can I buy any cryptocurrency I want on Binance? How much BTC can bring in just one month please?

Thanks for your quick response Reply. How will I get the real Bitcoin to invest Reply. I am really confuse with this bitcoin of a thing. Please someone should educate me about it Reply. How many BTC can 3k afford Reply. Please how can I start bitcoin trading training? You can message us with what you want to know. I want to start Bitcoin business Reply. Where am I going to start a bitcoin trading or can I start in opera or which application? How can I verify my account in Binance?

How can I buy bitcoin with ? Please I need a link on how to register, can i invest with on btc? How will I know the right time to sell my Bitcoin Reply. What is p2p? It is Peer to Peer. Trading with fellow users but Binance act as an escrow. Did you receive a confirmation email after registration?

BLOODY SATURDAY: Bitcoins plummets by over 50% from all time high

As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them? The ban threatened to tip it over the edge. He turned to his younger brother, Osy, who had begun trading bitcoins. When the forex ban happened, he showed me how much I needed it, too. I could pay my suppliers in bitcoins if they accepted — and they did. According to bitcoin trading platform Paxful , Nigeria is now second only to the US for bitcoin trading. An array of factors, from political repression to currency controls and rampant inflation, have fuelled the stunning rise of cryptocurrencies in Nigeria.

A central bank digital currency is not a cryptocurrency. Cryptocurrencies, such as Bitcoin, are not currencies in most countries since they are.

How to make money from cryptocurrency and not get scammed

However, with the increase in Bitcoin adoption in Nigeria , more crypto exchanges have now focused on the Nigerian market. Hence, making it easier for the average Nigerian to buy Bitcoin on their platform. Look through. LocalBitcoins is a peer-to-peer platform that enables Nigerians and other users to buy and sell bitcoin among themselves. On the platform, you can trade directly with another person, make payments, and get value instantly. LocalBitcoins offers escrow protection for every trade which is meant to ensure the bitcoins and both traders are safe. Visit LocalBitcoins Here. Visit Paxful Here. Luno operates an app that also lets Nigerians buy bitcoin easily online. You can use payment methods like bank transfer and card to add money to your Luno wallet for this purpose.

“Is this the end?” Nigerian crypto-traders confront latest state hurdle

where can i sell my bitcoin in nigeria

While CBDCs are issued by the government, stablecoins, on the other hand, are issued privately to facilitate a blockchain initiative. However, while both CBDC and stablecoins are fundamentally used for the same purposes, the major difference between them is the issuing authority which is either centralised or decentralised. For instance, CBDCs are government-issued and as such are regulated by a centralised authority. On the other hand, stablecoins do not operate in the same manner; instead, they exist across a distributed, and decentralised blockchain network.

Off-chain transaction takes the value outside of the Blockchain and they can be executed instantly. Off-chain transactions offer more security and anonymity to the participants because details are not publicly broadcast and most importantly off-chain transactions usually don't have a transaction fee.

Best Crypto Apps in Nigeria

This became necessary given the increase in the number of confirmed Lassa fever cases across the country and a joint risk assessment with partners and sister agencies. As of 23rd January , a total of confirmed cases with 26 deaths a case fatality ratio of Furthermore, the reports in weeks 1 and 2 show the highest number of confirmed cases recorded in the last four years for the same period. Lassa fever is an acute viral hemorrhagic illness transmitted to humans through contact with food or household items contaminated by rodents infected with the Lassa fever virus. Person-to-person transmission can also occur, particularly in a hospital environment with inadequate infection control measures. Like several other countries in West Africa, the disease is endemic in Nigeria and is often recorded during the dry season, often between November and May.

Out of control and rising: why bitcoin has Nigeria’s government in a panic

The crash in bitcoin prices follows a decision by the US Fed to raise interest rates at least three times precipitating the liquidation of most leveraged assets in the market. Bitcoin is not the only cryptocurrency that has suffered massive losses. For further inquiries about this article, contact: Email: chidinma. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Home Markets Cryptos.

Buy, sell and margin trade Bitcoin (BTC) and Ethereum (ETH) in exchange with EUR, USD, CAD, GBP, and JPY. Leveraged trading on US based Bitcoin and Ethereum.

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Africa's largest economy embraces a digital currency that has a peculiar backstory. Nigeria's Central Bank launched a digital currency on Monday that is designed to be used alongside its physical currency. The release of eNaira was officially announced via a press release issued by the Central Bank of Nigeria. A central bank digital currency is a type of cryptocurrency that's controlled by a country's central bank. Medici Ventures , a venture fund initially formed as a subsidiary of Overstock.

If you are panicking right about now, I implore you, in fact, I urge you to sell all of your bitcoin now.

CoinMarketCap takes a look at some of the most popular cryptocurrency apps in Nigeria. Join us in showcasing the cryptocurrency revolution, one newsletter at a time. On Feb. This means Nigerian users are not able to use their credit or debit cards to purchase Bitcoin, or deposit and withdraw in NGN. Despite a government crackdown, Nigerians interest for buying and trading Bitcoin continues to grow.

Bitcoin continues to gain increasing popularity globally. People that mined or invested in Bitcoin in its early days are not millionaires. This virtual currency dominated news headlines in after hitting its all-time high record. And more people and businesses continue to consider this digital currency as a payment method and investment.

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  1. Sheffield

    Your sentence brilliantly