In the past few years, Nigeria has become a big player in the crypto game in Africa. More and more people and businesses are hopping on the crypto train, which has caused some serious growth in the market in the country. Due to this, tons of crypto exchanges have been established in Nigeria, making it easy to convert cryptocurrencies such as Ethereum to Naira.
Currently, ETH is one of the big dogs in the crypto industry, and it’s had its fair share of ups and downs, but for the most part, it’s been on a steady climb up. People use ETH for a few different reasons. Some peeps see it as a sweet investment opportunity, while others use it to pay for stuff, and some use it to get in on the action with decentralised apps that are built on the Ethereum network.
I’m lucky enough to be one of the people who have reaped the benefits of investing in Ethereum. But, it became a problem when I needed to liquidate some of my Ethereum, but I did not know how to and even what suitable crypto trading platform to use.
A few months back, I had some ETH collecting dust in my crypto wallet, and I needed to cash it out. But, with all the different exchange platforms out there, it can be overwhelming to figure out where to start. I decided to research and try a few different options for myself.
Long story short, I finally figured out the ins and outs of converting ETH to Naira, and I want to share my experience with you. I’ve done the trial and error, so you don’t have to. I’ll be telling you all about the best crypto exchange in Nigeria and how exactly to convert your assets to Naira while enjoying the most out of your investment.
So, whether you’re a crypto newbie or a seasoned pro, you can trust that I’ve got you covered. Let’s get started!
Overview of Ethereum
Ethereum is a big deal in the world of crypto. Because of its decentralised nature, no one person or company controls it, and it’s open-source, meaning anyone can use or build on it. It was created in 2015 by Vitalik Buterin and has become one of the most popular blockchain networks out there.
ETH’s value is like any other asset or currency – it’s all about supply and demand. A bunch of factors can impact its value, like how much people are using the Ethereum network, what’s going on in the crypto market in general, any new regulations, and tech advancements.
Trading ETH in Nigeria has been on the rise lately. With Nigeria having a large tech-savvy population and a lack of investment options, more people are getting into the crypto scene, and ETH is definitely a popular option.
There are now plenty of cryptocurrency exchanges in Nigeria where you can buy and sell ETH, giving you many options. Plus, the growing interest in crypto in Nigeria has caught the attention of global exchanges and financial service providers who want to get in on the action.
So, what is the best crypto trading app to use conveniently in Nigeria and get the most out of your investment? Don’t rush; keep reading.
The Best Crypto Exchange To Convert Ethereum To Naira- Breet
There are thousands of crypto exchange platforms out there, but one has stood out to me, Breet. Let me tell you why.
Breet is a cryptocurrency trading app in Africa where users can sell their crypto, convert it to fiat currency and withdraw it to their local bank account in less than five minutes.
In the crypto space, we have expert traders who have been in the industry for a couple of years now; they are well-versed in translating trading charts and are comfortable trading their Ethereum on just about any exchange platform. But what about the crypto newbies? That’s where Breet comes in. With Breet, you do not need to have a vast knowledge of cryptocurrency and trading graphs. You can skip all those technical jargon as Breet makes it super easy for you to trade your Ethereum in just a few steps.
You not only enjoy a beginner-friendly trading process, but you can instantly and seamlessly withdraw your funds to your Naira bank account.
Breet is perfect for all categories of people in the crypto space- the investors who need liquidation of their crypto and even the business owners who wish to expand their markets and start accepting crypto payments.
If you are looking for an exchange to purchase crypto, Breet is definitely not for you.
So, as a Breet user, what do you stand to enjoy asides from the juicy rates, seamless transaction process, lightning-fast withdrawals and Naira bank account compatibility? Oh, you thought that was all you get to enjoy? Oh, there’s more. Let’s take a look at some of the features of Breet.
Features of Breet
1. Multiple Cryptocurrencies Available:
Asides from Ethereum, you can also enjoy a superb service while trading crypto coins such as Bitcoin (BTC), Tether (USDT), Litecoin (LTC), Dogecoin (DOGE) and Bitcoin Cash (BCH). And they all come with their unique wallet addresses.
2. Mobile App:
Trading has never been easier as you can trade on the go with Breet. Enjoy the convenience of selling your Ethereum for Naira anywhere you are with the Breet mobile app. Plus, it is available on both IOS and Android.
3. 24/7 Customer Service:
An early bird or a night owl? Don’t worry; you can reach the Breet support team at any time of the day to solve any of your inquiries. You can get in touch with a representative at [email protected] or Call/WhatsApp 08090569499, and if you don’t want to go through the hassle of sending an email, WhatsApp message or calling, you can use the LIVE CHAT button available on the app.
4. Rate Calculator:
I mentioned earlier that Breet has the best rates, and I am pulling your legs. You can check for yourself by using the rate calculator feature on the app. All you have to do is enter the crypto type, the currency type and the amount you wish to sell in USD.
5. Referral Program:
Because Breet is all about giving back to the users and ensuring they have an easy transaction experience, Breet has a referral program where you earn 900 Naira every time someone signs up with your unique referral code. Do you know what that means? If ten people sign up with your referral code, you earn 9,000 Naira. What are you waiting for? Start making money on the side as you seamlessly trade your crypto for fiat currency with Breet.
How Much Will I Get for $100 ETH In Nigerian Naira?
Wondering how much you’ll get for $100 worth of ETH in Naira using Breet? No problem! Breet has a handy in-app rate calculator that’ll show you the exact amount.
Right now, the going rate for Ethereum is NGN 710, so $100 worth of BTC would get you NGN 71,000.
Remember that the rate you get depends on the market, and it can change frequently. So, it’s always good to check before you sell.
How To Convert $100 ETH To Nigerian Naira
Let’s dive into how to easily convert $100 worth of ETH to Nigerian Naira on Breet in just a few steps.
- Register/Login to your Breet account.
- On the dashboard, click on ETHEREUM.
- Next, you need to generate a Breet Ethereum wallet address.
- Because Breet uses an over-the-counter (OTC) method of trading, trading rates are shown on the respective crypto wallet page, and there are different rates for different ranges of crypto (in USD) received in your wallet.
- Send Ethereum from an external wallet to your Breet Ethereum wallet.
- Wait for a minimum of three confirmations from the blockchain network.
- Finally, the Naira value is added to your Naira wallet!
You can now go ahead to withdraw to your provided Naira bank account and enjoy your funds.
Ethereum has maintained its position as the second-largest cryptocurrency by market cap for a long time, and it’s no wonder many people are jumping on this investment type. With the continued growth of the Nigerian crypto space, many crypto trading platforms have been established to cater specifically to the needs of Nigerians, and one of them is Breet.
As a Breet user, you enjoy various benefits from excellent customer service, the best rates, a fantastic trading experience and an easy-to-navigate on-the-go mobile app.
Take advantage of this and get started with Breet today.