In the early years of digital payment, Bitcoin had no monetary value, it was worth close to nothing, it was an idea that was being tested to see if the concept would work. if someone had walked up to many of us at the time, and advised us to buy bitcoin in Nigeria at the time, many would have shrugged it off.
Now that we see what has become of Bitcoin and other Cryptocurrencies, I bet if we all can go back in time today, many will choose 2008, and probably buy Bitcoin. 1 BTC to Naira is currently worth over 20 million Nigerian Naira at the time of writing on Coinmarketcap. This is however not the time to reminisce on what could have been as there is still plenty of money to be made from the crypto world.
A mere idea in 2008 has transformed the world on a global scale, it has awakened us to some of the faults in our financial institutions. In Nigeria where international transactions take up to 3 days at an outrageous transaction fee, people have pivoted to the use of Bitcoin and other cryptocurrencies for such transactions with close to nothing transaction fees and with almost instant transaction completion.
With that and for other profit reasons, Nigeria was ranked the leading country in global bitcoin trade in Africa in 2022 with over $3 trillion in transactions.
It is quite easy to convert Bitcoin to Naira in Nigeria despite the CBN ban on commercial banks servicing crypto. In this article, we will share with you the fastest and safest ways to sell your BTC to Naira and get it directly in your bank account.
How to fund your Bitcoin wallet
To fund your Bitcoin wallet, you need to create an account with Remitano. After you have created your account, you need to verify your account in order to increase the transaction limit of your account. To create an account with Remitano, you can follow this link.
After you have successfully created your account, you need to fund your account by investing in cryptocurrencies. To buy Bitcoin, Ethereum, or any other cryptocurrency on a p2p cryptocurrency exchange in Nigeria, you can create a buying ad setting your exchange rate and wait for an interested seller to contact you for an instant buy. However, Remitano has made it a lot easy and seamless for you. Once you create an ad you will be contacted in less than 5 minutes depending on the rate you set.
Alternatively, you can fund your Remitano wallet with the Nigerian naira Fiat wallet NGNR. you will do a bank transfer of the amount you want to load your account with to a given account detail and with the description provided. In less than two minutes the money will be reflected in your NGNR wallet.
After the money has been reflected in your NGNR wallet you can swap it for Bitcoin using the bitcoin market rate. And with that, you have successfully funded your account. The process can be replicated for any other coin you want to purchase.
So What is the Fastest Way to Convert Bitcoin to Naira?
To convert Bitcoin BTC to naira on Remitano you need to have some BTC in your Remitano bitcoin wallet.
You can do that by following the steps we discussed above.
Once that is done, you can now change your BTC to naira swiftly in these three steps:
Log in to your Remitano account and Navigate to your wallet dashboard.
Go to your Remitano Bitcoin wallet. By the side, you will find the options to deposit, withdraw, and swap.
Click on the swap button and select the NGNR which is the Nigerian naira. It will convert your BTC to naira using the Bitcoin market exchange rate.
Afterward, you can withdraw the money into your traditional bank account. With these simple steps, you have successfully converted your Bitcoin into Nigerian naira.
Advantages of using Remitano to Buy Bitcoin in Nigeria
Low transaction fee
Remitano offers one of the cheapest transaction fees. You can buy or sell Bitcoin in Nigeria with close to zero transaction fees. You can carry out an international transaction with a very affordable transaction fee hence, you get the best possible value for your money.
Instant trade
Easily complete your transaction instantly with a bank transfer or with the Remitano NGN Fiat wallet. Within 24 hours you can complete more than 50 transactions. Transactions on Remitano takes less than 3 minutes to be completed and can be faster depending on your acquaintance with the platform.
24/7 Customer support
Remitano customer support is highly responsive and is always available to respond to your complaints every day of the week including the weekends. Anytime you log a customer complaint, your complaint is logged and escalated almost immediately and you get a reply on when to check back.
User-Friendly Interface
Remitano has a user-friendly platform, the cryptocurrency exchange platform is so easy and smooth to use, you don't need to be an expert to use the platform, you can pick it up as a first-timer and successfully Buy bitcoin in Nigeria with it. You can equally sell your cryptocurrencies and also exchange your BTC to Naira without being thought.
Highly Secure and Safe
A foremost benefit of Remitano is its security. Security shouldn’t be a compromise in anything that deals with money. People want to invest their money where they have peace of mind that nothing will touch it. Additionally, people want to buy Bitcoin seamlessly with their personal information and transaction protected from a third party and that is exactly what Remitano provides for its users.
In conclusion, in this article, we have talked about the fastest way to convert Bitcoin to naira, we started by describing how to fund our Remitano wallet i.e how to buy Bitcoin in Nigeria, we also looked at the advantage of using the Remitano platform to buy cryptocurrencies.
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