Bitcoin is the world’s first and most popular cryptocurrency, with the largest market capitalization, and Nigeria is not left out of the crypto buzz. According to PUNCH, Nigerians traded at least N77.75bn ($185m) worth of Bitcoin in the first three months of the year despite the Central Bank of Nigeria’s restrictions on cryptocurrency transactions in the country.
In Nigeria, where most people rely on multiple sources of income, they have looked to sell cryptocurrency. In this article, I’ll tell you how to trade Bitcoin in Nigeria in 2022.
Before you think of how to sell your Bitcoin, you first have to choose a suitable platform. Choosing an appropriate platform to trade Bitcoin is not done merely by personal preference. Instead, consider some factors that will aid you in having a seamless trading experience.
Factors To Consider When Selecting a Crypto Exchange Platform
Crypto Availability: There’s nothing more disappointing than finding and registering on a crypto exchange platform, but they do not have the cryptocurrency you wish to sell. Thankfully, most platforms always have Bitcoin available since it is the most popular digital currency. Always make sure you do your research ahead of time to make sure the digital currencies you wish to trade are available on the platform.
Fees: Certain exchange platforms charge specific transaction fees. Fees such as; deposit fees, withdrawal fees, etc. The transaction charges vary according to platforms; some do not charge any. Some even go ahead to claim not to have any fees, but you later discover that there are some hidden fees charged.
Limits: Asides from varying fees, some crypto exchange apps have varying limits. Limitations such as; Deposit limit, withdrawal limit, and so on. The deposit limit restricts how much you are allowed to despair into your account on the app to make a transaction. While the withdrawal limit restricts how many times or how much you can remove and put in your external or personal bank account. Withdrawal limits come in different forms. The different withdrawal limits are; daily limit, monthly limit, or even yearly limit.
Security: When choosing a platform to trade with, you must consider protection. Making sure your funds are safe is paramount, and you need to select an app that will make sure of that.
Customer Support: 24/7 customer support availability is also essential. There needs to be an on-hand representative available to support you and help you with any enquiries at any time. Multiple contact options are also crucial. Some popular contact options are; Live Chat, Email, social media, call, etc.
Best App To Sell Bitcoin in Nigeria- Breet App
Putting together all the previously listed and explained factors to consider when choosing a crypto exchange platform, let me tell you about the best app to sell Bitcoin in Nigeria, Breet App.
Breet is an OTC crypto trading app that allows users to receive Bitcoin, convert it to cash, and withdraw it to their local bank account within minutes.
It is best for the ideal user to simply wants to sell Bitcoin in Africa and convert it to cash without worrying about cryptocurrency volatility.
Breet is 100% free as it has no deposit fee, withdrawal fee, or other hidden fees and no deposit and withdrawal limit. Their customer service is available 24/7 at email@example.com and calls/WhatsApp 08090569499
Breet also supports other cryptocurrencies, that is, you can sell Ethereum, Litecoin, Dogecoin, Tether (USDT), and Bitcoin Cash.
With a user-friendly interface, Breet App is easy to navigate and use. They recently introduced new features to their app, such as; Crypto news and alerts where you can catch up on the latest happenings in the crypto world, Incentives where you can complete tasks and earn reward points which you can redeem for cash or airtime.
Breet is a customer-centric crypto exchange platform and aims to make the trading experience seamless for the average person.
It is available in both Nigeria and Ghana at the moment and can be downloaded on Android and IOS.
How To Sell Bitcoin In Nigeria on Breet App
Below is a step-by-step guide to selling Bitcoin in Nigeria using Breet App.
Create an account
On the dashboard, click on BITCOIN, which opens the Bitcoin trade page.
Generate a Bitcoin wallet address
Send your wallet address to the sender. You can do this by having the sender scan the QR code or copy the wallet address to your clipboard and send it.
Wait for a minimum of 3 confirmations from the blockchain
Receive Bitcoin into your wallet, automatically converting it to your fiat currency, Naira.
Withdraw to your local bank account provided.
How To Generate a Bitcoin Wallet Address on Breet App
Generating a Bitcoin wallet address requires three steps.
Log into your Breet account.
On the dashboard, click BITCOIN, which opens the Bitcoin trade page.
Click on “Generate Wallet Address”
That’s all! You can now receive Bitcoin from anywhere in the world.
Selling your Bitcoin does not have to be long and stressful. With Breet, you are guaranteed a seamless trading experience. With only a few steps, you can sell your Bitcoin for the best rates and withdraw to your local bank account for free.