On the 5th of February 2021, the Central Bank of Nigeria placed a restriction on crypto transactions in the country, but even with that, there are still a ton of Nigerians who are into crypto. A crypto platform reported that over 33 million Nigerians own or trade crypto assets.
Popular crypto exchange, KuCoin, released a report titled “‘Into The Cryptoverse: Decoding The World Of Crypto Consumers“, and it’s got some interesting findings. According to Google Trends, it was reported that Nigeria had the highest number of bitcoin searches globally in early 2021. That just shows how much people in Nigeria are into crypto.
So, with more and more people in Nigeria getting into crypto, it’s super important to make sure they’re using the right platform to trade on. Things like transaction fees and rates they offer can really make a difference.
When it comes to choosing a suitable platform out of the thousands available, it can be overwhelming, but with this article, you can better navigate out of the pool and check out the best crypto exchange platform with the best rates to sell Bitcoin in Nigeria.
Overview of Bitcoin
Before we dive into what platform has the best bitcoin rates in Nigeria, let’s briefly explain what Bitcoin is.
Bitcoin is a digital currency or cryptocurrency created back in 2009. It’s not controlled by any government or financial institution – instead, it operates on a decentralised network. That means transactions are recorded on a public ledger called a blockchain, and everyone on the network can see what’s going on.
One of the most fantastic things about Bitcoin is that it allows for peer-to-peer transactions without needing a middleman or third party. And because it’s decentralised, there’s no need to worry about things like inflation or interference from the government.
Another thing to know is that there’s a limited supply of Bitcoin – there can only ever be 21 million bitcoins in existence. This is meant to make it more like a valuable asset, like gold, than a traditional currency.
So that’s the basics of Bitcoin in a nutshell! It’s definitely a unique concept, and it’s been making waves in the financial world.
So, when it comes to where to convert Bitcoin to Naira with the best trading rates, let’s check out my top recommendation.
Best Bitcoin Rates in Nigeria- Breet
Breet is an OTC crypto trading app in Africa that allows users to receive crypto, convert it to cash and withdraw it to their local bank account within minutes.
Breet is a pretty cool platform, especially if you’re looking to sell Bitcoin in Nigeria and convert it into fiat currency without stressing about the ups and downs of crypto prices. It uses automated technology to convert your BTC into the fiat equivalent of the amount of the crypto coin(s) at the best bitcoin rates.
And the best part? Using Breet won’t cost you a dime. That’s right, no deposit fees, no withdrawal fees, and no hidden charges of any kind. Plus, there’s no limit on how much you can withdraw. With this, you can rest assured that you will get the most out of your investment.
And here’s something even sweeter: you earn reward points with every transaction you make on Breet. These points can be redeemed for cash or even airtime! So not only is Breet easy to use, but it’s also rewarding. What’s not to love?
If you are looking for a way to handle your crypto assets with ease, look no further than Breet! This platform makes it quick, simple, and safe to conduct transactions with your digital currencies.
And the cherry on top? Breet is built with the user in mind. With its user-friendly interface, even if you’re new to the crypto world, you’ll be able to figure it out in no time. So, if you want a hassle-free way to manage your crypto, give Breet a try!
Asides from Bitcoin, you can also trade other cryptocurrencies such as; Ethereum, Litecoin, Tether, Dogecoin and Bitcoin Cash.
For further inquiries, reach out to a representative at [email protected] and calls/WhatsApp 08090569499
How To Sell Bitcoins in Nigeria Using Breet
- On the dashboard, click on BITCOIN, which opens up the Bitcoin trade page.
- Rates are displayed on the Bitcoin trade page with its value in USD($).
- Generate Bitcoin address
- Send the Bitcoin wallet address to the sender, just like you would send bank account details.
- After a minimum of three confirmations from the blockchain network, the naira value is added to your balance.
- Click on “withdraw.”
- You will receive it directly to your local bank account provided.
Note that if your automatic settlement feature is turned on, your funds will automatically be sent to your local bank account provided immediately after your transaction is completed.
In conclusion, Breet is a fantastic option for anyone looking to manage their crypto assets with ease. With its user-friendly interface, quick and secure transactions, and the added bonus of earning reward points, Breet stands out as a top choice for anyone looking to buy, sell, or trade cryptocurrency. And the fact that it’s completely free to use just sweetens the deal. So why wait? Give Breet a try today!