How to Sell Bitcoin in Nigeria. Entering the world of cryptocurrency often begins with the acquisition of Bitcoin, a digital asset that has captured the heart of millions worldwide. In Nigeria, a country marked by a growing interest in blockchain technology and digital currencies, the desire for bitcoin is on the rise daily. However, while acquiring bitcoin is as easy as anything, knowing how to sell bitcoin in Nigeria without being scammed is very important.
To sell Bitcoin in Nigeria, you need to be aware of the various options available for converting digital assets to local currency. From cryptocurrency exchanges offering user-friendly interfaces to peer-to-peer platforms enabling direct transactions between individuals, the Nigerian market presents multitude of options for those looking to convert their bitcoins to naira.
In this article, we delve into the various methods and platforms available to sell Bitcoin in Nigeria. Whether you’re a seasoned tradaer or a newcomer, I will show you everything you need to know about selling bitcoins in Nigeria.
Methods of Selling Bitcoin in Nigeria
There are many ways to sell bitcoin in Nigeria, some are easy while others are complex. We will be looking at some of the easiest and safest ways to sell bitcoin in Nigeria.
Crypto Exchanges :
This is the easiest and safest way to sell bitcoins in Nigeria. You can use established platforms like KOYN or Breet. These platforms allow users to create accounts, verify identities, and sell Bitcoin for Naira Instantly, and you can withdraw funds directly to your bank account without any delay. KOYN is known for its simplicity, good rates and high level security. Quickly Download the KOYN app and see why it’s the best crypto platform in Nigeria.
Peer-to-Peer (P2P) Platforms:
Platforms like Binance and Paxful facilitate direct transactions between buyers and sellers. Sellers list their Bitcoin, set prices, and negotiate with interested buyers. Transactions are completed independently, allowing for flexibility in payment methods and terms.
Which app is Best for selling Bitcoin In Nigeria
There are multitude of apps for selling bitcoin in Nigeria but based on reviews from thousands of users, ease of use and robust security infrastructure, KOYN has been confirmed the best app to sell bitcoin in Nigeria.
Koyn is the go-to app for selling Bitcoin in Nigeria. Its user-friendly interface, top-notch security, good rates , and excellent customer support make it the best choice for both beginners and experienced traders.
Security: Robust security measures are of the utmost importance. KOYN employs top-tier encryption standards, utilising advanced cryptographic techniques to secure user data and transactions. This includes SSL encryption for data transmission and storage, safeguarding sensitive information from unauthorised access and proactive measures to prevent any form of hacking.
Zero Fees: You can sell your bitcoin on Koyn without worrying about fees. There are no fees to pay. Simply sell your bitcoin and cash out your funds instantly.
User-Friendly Interface: We takes pride in our user-friendly interface. Navigating our platform is easy for both seasoned traders and newcomers, ensuring a smooth experience for selling cryptocurrencies.
Regulatory Compliance: We actively monitors and adheres to the regulatory frameworks set by Nigerian authorities and complies with global standards in the cryptocurrency space. This compliance includes following guidelines related to anti-money laundering and know your customer regulations. By doing so, it ensures that its operations align with legal requirements, promoting a transparent and legally sound environment for users.
Customer Support: We prioritise customer satisfaction through responsive and reliable customer support. Trained professionals are available to assist you with queries, troubleshooting, and guidance whenever needed.
How to sell Bitcoin on Koyn
To sell your bitcoins on koyn, kindly follow the steps below:
1. Create a Koyn Account:
Quickly Download the KOYN app and create an account.
2. Add Your Bank Account Details:
To ensure a smooth transaction process, add your bank account details to your Koyn account. This step is essential for withdrawing your cash.
3. Auto-Generated Wallet Addresses
Depending on the crypto you plan to sell, Koyn will automatically generate unique wallet addresses within your account. These addresses are where the digital assets you want to sell will be sent. Each cryptocurrency you plan to sell will have its specific auto-generated wallet address
4. Initiate the Transaction:
Send the cryptocurrency you wish to sell from your external wallet or exchange to the generated wallet address within Koyn. Wait for the network confirmation, which typically takes 15-30 minutes for three confirmations.
5. Automatic Conversion and Transfer:
Once the transaction is confirmed, Our system will automatically convert your cryptocurrency to Naira at the best available rate. The equivalent Naira amount will be instantly transferred to your wallet for withdrawal.
And that’s it! Your cryptocurrency is successfully sold, and your money is available for withdrawal.
How to Withdraw your funds after selling Bitcoin
Go to the Home Tab: Log in to your Koyn account and head to the Home tab. Find the ‘Withdraw’ option under your wallet balance.
Enter Withdrawal Details: Click ‘Withdraw’, input the amount you want to withdraw from your available balance.
Select Account Number: Choose the account where you want the funds to be transferred. If needed, add a new account by providing its details.
Confirm and Enter Pin: Review the withdrawal details, confirm accuracy, then enter your 4-digit pin for verification and security.
Withdrawal Completed: Congratulations! Your withdrawal request is done. The funds will be immediately processed and transferred to the chosen account number.
Conclusion
KOYN’s user-friendly approach coupled with robust security measures provides a trustworthy avenue for converting Bitcoin to Naira. By following simple steps, you can confidently sell your cryptocurrency and withdraw funds instantly, making the process both efficient and secure. As the cryptocurrency landscape evolves, KOYN continues to set the benchmark for a secure, user-centric platform for trading digital assets in Nigeria.