Where to Sell Your Bitcoin In Nigeria: A Quick Guide

March 16, 2024
  • Learn how and where to sell your Bitcoin in Nigeria seamlessly and at the best rates in the market.

Considering how much the crypto scene is changing in Nigeria, with one regulation or another placing further restrictions on crypto trading, it’s become popular for Nigerians to seek out how best to go about their business.

It’s interesting to note that Nigerian crypto users and traders are not declining in number but continuing to increase. According to Reuter’s report, the Nigerian crypto trade volume increased to $56.7 billion between July 2022 to June 2023. As you can imagine, the majority of these transactions are in Bitcoin.

Now, the big question is, what is the best way to turn this foreign remittance into our local currency to enjoy profits without much hassle while getting value for money? Well, the answer is right here — keep reading for a quick guide on how to turn your BTC into Naira seamlessly.

The Best Method to Sell Bitcoin in Nigeria

Crypto trading in Nigeria, although popular, is not as easy as you’ll find in most of the world. More traditional ways of converting crypto to cash have taken a backseat, and methods like P2P that have become popular are unfortunately prone to fraudulent acts or unfavorable rates.

This is where over-the-counter (OTCs) comes into play, solving all the problems plaguing the Nigerian crypto scene simply and seamlessly. Like the name OTC, crypto trading this way is quick, easy, and effective, so you’re providing an all-in-one tailored solution in one go.

Now that you know what OTCs are, the next question is the best one you can use for your BTC to Naira conversion.

The Best Over-The-Counter (OTC) Solution To Sell Your Bitcoin In Nigeria

The Breet app is a leading OTC in Nigeria (and Ghana) for crypto-to-cash and crypto-to-crypto transactions. It’s a tailored solution to solve the nightmare of poor rates, security risks, and scam transactions when exchanging your crypto for Naira.

With a smooth and user-friendly app, the Breet app is all you need to go from Bitcoin to Naira (or Cedis) in a simple and quick process. 

The first step is to download the app from the Google Play Store or iOS App Store. If you’d rather do this online, you can register on the web app.

Signing up is quick. Just enter the bio-data required. Then, you can verify your account by submitting the required government-issued documents (this is to ensure your security and doesn’t take time).

After you’ve been verified, set your default currency to Naira (or Cedi if you’re in Ghana). Input the receiving local bank account as well.

How to Sell Bitcoin for Naira on Breet:

  1. Go to “Crypto to Cash” and click on Bitcoin.

(Note that your permanent wallet address has been automatically generated upon sign-up)

  1. Copy and paste your wallet address, or scan the QR code to get your details to send the BTC.
  2. Breet will receive the BTC, reflect it in Naira (or Cedis), and initiate the transaction.
  3. Now, you wait for the transaction to be confirmed on the blockchain. After the wait time, your Bitcoin has been successfully sold for Naira!
  4. Now, send this Naira to your bank account as a direct deposit. Next time, you can automate this step by turning on “Automatic Settlement” to have Breet send the money directly to you.

Conclusion

Selling your Bitcoin for Naira with Breet is the best way to ensure you get all the profits from your BTC investment, skipping the complex processes, fraud risk, and poor rates. Exchanging your Bitcoin for Naira has become easier, smoother, and more profitable with Breet.

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