Bitcoin is the first and most popular cryptocurrency in the world, with the largest market capitalization, and Nigeria is not left out of the cryptocurrency hype. According to PUNCH, Nigerians traded at least N77.75bn ($185m) in Bitcoin in the first three months of the year despite Central Bank of Nigeria restrictions on cryptocurrency transactions in the country.
In Nigeria, where most people depend on multiple sources of income, they looked to sell cryptocurrency. In this article, I will tell you how to trade Bitcoin in Nigeria in 2022.
Before thinking about how to sell your Bitcoin, you must first choose a suitable platform. Choosing a suitable platform to trade Bitcoin is not made simply by personal preference. Instead, consider a few factors that will help you have a smooth trading experience.
Factors to Consider When Selecting a Crypto Exchange Platform
Cryptocurrency Availability – There is nothing more disappointing than finding and signing up with a cryptocurrency exchange, but they don’t have the cryptocurrency you want to sell. Fortunately, most platforms always have Bitcoin available as it is the most popular digital currency. Always be sure to do your research ahead of time to ensure that the digital currencies you want to trade are available on the platform.
Rate: Certain exchanges charge specific transaction fees. Rates such as; deposit fees, withdrawal fees, etc. Transaction fees vary across platforms; some charge nothing. Some even claim to have no fees at all, but then you find out that some hidden fees are charged.
Boundaries: In addition to different fees, some cryptocurrency exchange apps have variable limits. Limitations such as; Deposit limit, withdrawal limit, etc. The deposit limit restricts how much you are allowed to deposit into your in-app account to make a transaction. While the withdrawal limit restricts how many times or how much you can withdraw and put into 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, you should consider protection. Making sure your funds are safe is paramount, and you should select an app that makes sure of that.
Customer Support: Availability of 24/7 customer support is also essential. There needs to be a representative available to support you and help you with any queries at any time. Multiple contact options are also crucial. Some popular contact options are; Live chat, email, social networks, calls, etc.
Best App to Sell Bitcoin in Nigeria – Breet App
Putting together all the factors listed and explained above to consider when choosing a crypto exchange, let me tell you about the best app to sell Bitcoin in Nigeria, Breet App.
Breet is an OTC cryptocurrency trading app that allows users to receive Bitcoin, convert it to cash, and withdraw it to their local bank account in a matter of minutes.
It is better for the ideal user to simply want to sell Bitcoin in Africa and convert it into cash without worrying about the volatility of the cryptocurrency.
Breet is 100% free as it has no deposit fees, withdrawal fees or other hidden fees and no deposit and withdrawal limits. Their customer support is available 24/7 at support@breet.app and calls/WhatsApp 08090569499
Breet also supports other cryptocurrencies i.e. you can sell Ethereum, Litecoin, Dogecoin, Tether (USDT) and Bitcoin Cash.
With a user-friendly interface, the 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 with the latest happenings in the crypto world, Incentives where you can complete tasks and earn reward points that you can redeem for cash or airtime.
Breet is a customer-focused crypto exchange platform and aims to make the trading experience seamless for the average person.
It is available in both Nigeria and Ghana right now and can be downloaded on Android and IOS.
How to Sell Bitcoin in Nigeria on the Breet App
Below is a step by step guide to selling Bitcoin in Nigeria using the Breet app.
Create an account
On the dashboard, click on BITCOIN, which opens the Bitcoin trading 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 their clipboard and send.
Wait for a minimum of 3 confirmations from the blockchain
Receive Bitcoin in your wallet, automatically converting it to your fiat currency, Naira.
Withdraw to your local bank account provided.
How to generate a Bitcoin wallet address in the Breet app
Generating a Bitcoin wallet address requires three steps.
Log in to your Breet account.
On the dashboard, click on BITCOIN, which opens the Bitcoin trading page.
Click “Generate Wallet Address”
That’s all! Now you can receive Bitcoin from anywhere in the world.
Conclution
Selling your Bitcoin doesn’t have to be long and stressful. With Breet, you are guaranteed a seamless trading experience. With just a few steps, you can sell your Bitcoin at the best rates and withdraw them to your local bank account for free.
Start by downloading the Breet app on the Google Play Store or Apple App Store.
