Cryptocurrencies like Bitcoin have blown up in Africa, and lots of people are buying and selling them left and right. But, if you’re looking to cash out your Bitcoin for some Naira, it’s crucial to know the fastest and most efficient way and where to do so. Trust me; you don’t want to be stuck waiting around for days on end for your transaction to go through. That’s why I’m here to give you the lowdown on the quickest way to convert Bitcoin to Naira in Africa.
I have been involved in the crypto space for years, and I’ve had my fair share of experiences converting Bitcoin to local currencies.
Recently, a close friend reached out to me in a panic. They had an unexpected expense that needed to be paid, but their bank account was running low on funds. They remembered they had some Bitcoin and wanted to convert it to Naira as soon as possible.
I knew I had to help, and quickly. So, I told them about OTC crypto trading, where they could sell their Bitcoin without needing an intermediary. But we both agreed we needed to find a trustworthy platform to ensure a secure and speedy transaction.
That’s when I suggested Breet, a reputable platform based in Africa. Their OTC trading feature allowed my friend to sell their Bitcoin quickly and get the Naira they needed in a matter of minutes. I was relieved that I could help out a friend in need, and it reminded me of how important it is to have the right resources when it comes to selling Bitcoin for Naira.
Do you want to know the fastest and most reliable way to turn your Bitcoin into sweet Naira? Then keep on reading because I’m about to spill the beans on the top crypto trading platform that will get the job done in no time!
Understanding Bitcoin and Naira
Before we dive into the best way to convert Bitcoin to Naira, let’s quickly define what they are. Bitcoin is a decentralised digital currency that runs on a peer-to-peer network. It’sIt’s not backed by any government or financial institution, and its value is determined by market demand.
Naira, on the other hand, is the official currency of Nigeria. It’s issued and regulated by the Central Bank of Nigeria (CBN) and is used for all transactions within the country.
Bitcoin and Naira are very different from each other, with distinct advantages and disadvantages. Bitcoin offers faster transaction processing, lower fees, and the ability to operate globally, while Naira is the official currency of Nigeria and is widely accepted in the country.
Breet: The Quickest Way To Convert Bitcoin To Naira
There are thousands of crypto exchange platforms out there for you to pick from, all with various features that set them apart. While there are many notable exchanges, I recommend Breet.
Breet is a cryptocurrency trading app in Africa where you can sell and convert Bitcoin to Naira and withdraw it into your local bank account in a matter of minutes.
Its easy-to-navigate mobile app makes the trading experience easy from start to finish. Additionally, you do not need to have a vast knowledge of crypto to trade on Breet; Breet takes care of all the jargon for you. With just a few steps, you can conveniently convert Bitcoin to Naira and withdraw it to your external Naira bank account.
Breet is not limited to Bitcoin but also supports cryptocurrencies such as Ethereum, Tether, Dogecoin, LItecoin and Bitcoin Cash.
How To Convert Bitcoin To Naira on Breet
- Firstly you have to create an account on Breet and log in.
- On the dashboard, click on BITCOIN.
- Generate a Bitcoin wallet address. This address is permanently yours.
- Trading rates are shown on the Bitcoin trade page, and there are different rates for various ranges of Bitcoin (shown in USD) received in your wallet.
- Send Bitcoin to your Breet Bitcoin wallet.
- After a minimum of three confirmations from the Bitcoin blockchain network, the Naira equivalent is added to your Breet Naira wallet.
- If your automatic settlement feature is on, your funds are immediately sent to your external bank account after completing the transaction. If turned off, you have to manually withdraw it.
Who is Breet For?
I mentioned how Breet caters to people of all backgrounds who need the quick fiat equivalent of their Bitcoin, but let me break that down a bit more. Who is Breet for? Check it out.
Business owners also enjoy the wonders of Breet. How? With Breet’s amazing features, it acts as a crypto payment gateway which allows you to accept crypto as an alternative means of payment and receive the fiat equivalent in your local bank account. You do not need to go through the stress and lengthy process of opening a domiciliary account and still struggle with its limitations. You can expand your markets and start receiving crypto payments worldwide. What are you waiting for? Take your business to greater heights by accepting cryptocurrency payments with Breet today.
With our Merchant API, you can build secure crypto payment gateways for your applications that provide immediate fiat settlement whenever you require it. You have complete control over your coins, ensuring no one else has access to them.
The Breet API is a total lifesaver for developers building apps that let people pay with crypto. Breet takes care of everything from checkout to settlement, so you can let your customers pay with the latest and greatest without worrying about exchange rates or complicated tech stuff. It’s perfect for all kinds of apps, from beginner to intermediate, so you can get started in no time.
That’sThat’s right, Breet is for you. No matter what you do or where your crypto knowledge background is, if you are looking for the cash value of your Bitcoin, Breet is the perfect choice for you.
And there you have it – the fastest and most reliable way to convert Bitcoin to Naira in Africa. Whether you choose to use an OTC trading platform like Breet, a crypto exchange, or a P2P marketplace, make sure you’re doing so safely and securely. Always research and verify the platform’s reputation and fees before making any transactions. With the proper knowledge and resources, converting your Bitcoin to Naira can be a breeze. So go ahead, cash in on your digital assets, and enjoy your funds.