Looking for an easy way to sell ETH in Nigeria? you’re at the right place. Ethereum (ETH) for some years now has been known as the world-leading programmable blockchain and after its launch in 2015, it has further maintained its popularity. This article is specifically to show you how to conveniently sell ETH in Nigeria for cash, before I begin let’s put some quick context to what ETH is.
What is ETH?
ETH serves as both a platform and Ether, a Cryptocurrency exchange but the concept here is specific to the fact that ETH is the native cryptocurrency of the Ethereum platform with several purposes of paying for transactions, securing the network and storing value, etc :
Decentralised blockchain platform: Ethereum is a global, open-source, and distributed computing platform, built on blockchain technology. This means it operates without a central authority, relying on a network of computers spread around the world to verify transactions and maintain the network.
Smart contracts: Ethereum’s key innovation is the ability to run “smart contracts.” These are self-executing contracts that can automatically execute agreements when certain conditions are met. They can be used for various purposes, from creating decentralised applications (dApps) to facilitating financial transactions.
Wide range of applications: Ethereum’s platform supports a diverse range of applications, including games, financial services, supply chain management, and more. This diverse ecosystem of dApps continues to grow and evolve.
Paying for transactions: When users interact with the Ethereum network (e.g., sending ETH, deploying smart contracts), they pay a fee in ETH.
Securing the network: Validators, who help secure the network and process transactions, are rewarded with ETH.
Storing value: Like other cryptocurrencies, ETH can be used as a store of value, although its price fluctuates significantly.
How to Sell ETH in Nigeria
Ethereum is a popular cryptocurrency, and many Nigerians invest in it. Selling Ethereum for Naira is common and made easier by using KOYN . As stated earlier, selling ETH is made convenient and easier when you use the right exchange for selling. Koyn is the most reliable app for Selling ETH, asides Koyn’s High rates, its unwavering commitment to reliability, security, and user experience will give you the confidence while selling ETH. Tested and trusted by many Nigerians, it was designed to simplify the process of selling while ensuring the highest standards of security.
Ready to Sell ETH on KOYN?
Let me show you how :
Create an Account – Download the KOYN App
If you haven’t already, download the KOYN app from Google Play Store
Sign Up or Log In – either create a new account or log in to your existing account.
Generate an Address
Select “Sell Crypto” On the main screen/dashboard, tap the “Sell Crypto” button. Select ETH from the list of supported cryptocurrencies, then select “ Create Wallet “ after which you click on the “Generate Address” button. This will generate a unique wallet address where you need to send your crypto from your external wallet or exchange.
Deposit ETH
Copy the generated wallet address and transfer your ETH from your external wallet or exchange to your KOYN ETH wallet address.
Cash Out
Wait for Confirmation and once your ETH transaction is confirmed which is always very swift, your naira wallet will be automatically credited and you can tap on the “Withdraw” button and select your preferred withdrawal method. You can withdraw your funds directly to your bank account or choose from various other convenient payment methods.
Why KOYN is the Best App Exchange to Sell ETH in Nigeria
There are multitude of apps for selling ETH in Nigeria but based on reviews from thousands of users of KOYN here are some outstanding reasons to use the App ;
- Security
- Competitive Rates
- Zero Fees
- User-friendly Interface
- Regulatory Compliance
- Customer Support
Common FAQs about ETH in Nigeria
What is an ETH?
Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Smart contracts allow participants to transact with each other without a trusted central authority.
What are the risks of buying/selling ETH in Nigeria ?
Asides from Scams, fraud, and money laundering prevalent in the crypto space, the price of eth fluctuates, and the value of your investment may reduce in a bear market.
Where can I sell ETH in Nigeria ?
KOYN App is the most reliable App to sell ETH in Nigeria
Conclusion
With a Smile on your face and access to Convenience via KOYN App you can choose to sell ETH at the best rates while assured of Security, great User Interface and top notch Customer Service. Become smart and confident, just like many other Nigerians using Koyn App and Live better now. In this article, we have been able to define Ethereum, how you can conveniently sell it and answered some of your pressing FAQs. Got further questions? You can always be rest assured to leave a comment and we will answer