How to Turn Bitcoin to Cash in Nigeria

How to Turn Bitcoin to Cash in Nigeria is a question most people ask after they must have earned or mined bitcoin and are in need of cash. Converting Bitcoin to cash is very simple and can be done by anyone that can operate a smart mobile phone or Personal Computer (PC). 

Cryptocurrency and Bitcoin have been around for some time and we all know you can make a terrific amount of money with Bitcoin and other cryptocurrencies. But for a newbie that just got introduced to Bitcoin they always ask this specific question

“When I finally have bitcoin, how can I turn it into cash/naira?”

Well, there are several ways you can convert your Bitcoin into cash in Nigeria, but the most popular method is to sell them on popular Nigerian exchanges. There are other ways you can also convert your bitcoin directly into cash in Nigeria and we will be listing out all those methods for you.

After reading this article you will know the different methods you can utilize in transforming your bitcoin directly into cash and be motivated enough to start dealing in bitcoin since you already know how you can turn them into real Nigerian money.

How to Turn Bitcoin to Cash in Nigeria -Ways you can convert your Bitcoin into cash

Below are solutions to How to Turn Bitcoin to Cash in Nigeria. The best way to turn your bitcoin into cash is by selling them on trusted bitcoin exchanges in Nigeria. In this section of the article, cryptosignalnews.com will highlight some of those exchanges where you can turn your Bitcoin into cash and the mode of operation of those exchanges.

1. Paxful: Paxful is one popular exchange where you can convert your bitcoin into Naira. After earning bitcoin either through faucets, PTC (Paid to Click), trading or investing, you can take your Bitcoin to Paxful and sell them for cash. Paxful is always filled with people interested in buying Bitcoin in exchange for cash.

You just have to sell your bitcoin at a reasonable price and in couple of minutes you can turn your earned bitcoin into cash and start enjoying your money. Paxful offers different payment methods, over 300 – this means you can accept payment in any way you want.

The cash can be transferred into your account by bank transfer, wire transfer or PayPal. You can also receive payment in iTunes or Amazon cards if you want, the end game is to turn your bitcoin into money that can be spent.

Just head to Paxful, create an account as a seller, update your profile and wait for a buyer to contact you. When you are contacted, you sell your bitcoin for Nigerian currency in a safe and secure environment.

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2. Luno wallet: Luno wallet is one of the best places online to convert your Bitcoin directly into naira or any fiat of your choice depending on your country and it is sent directly to your bank account hassle-free. I personally like Luno, I use it a lot to turn my bitcoin into cash. Selling your Bitcoin on Luno is very easy, you just have to create an account on the platform.

The platform serves as a secure wallet and an exchange, this means you can safely store your bitcoin on the Luno wallet and sell them whenever you want. Luno offers three different wallets, a Bitcoin wallet, Ethereum wallet, and a Naira wallet.

You can toggle your cryptocurrency between Bitcoin, Ethereum and the normal Nigerian Naira. Of you wish to sell your cryptocurrency on Luno, just go to sell Bitcoin, then set the amount of bitcoin you wish to sell, in less than 24 hours the Bitcoin will be sold and the money will be deposited on your naira wallet.

You can then transfer it from your naira wallet directly to your bank account if you wish to.

3. NairaEx: NairaEx is a Nigerian based Bitcoin exchange where you can turn your bitcoin directly into Naira. NairaEx operates by giving bitcoin sellers the opportunity to turn their hard-earned bitcoin into cash hassle-free. You just have to create an account on NairaEx as a seller and start selling your bitcoin in exchange for Naira. The least amount of Bitcoin you can sell on NairaEx is twenty thousand naira worth of bitcoin.

There are other ways you can easily convert your bitcoin directly into cash in Nigeria. You can sell it to someone directly without going to any exchange (peer to peer). By letting people around you know you sell bitcoin, you can get people to come to you to buy Bitcoin in exchange for cash.

You can also transfer your bitcoin directly into your bank account by using websites like bitcointobankaccount.com: this platform allows you to convert your bitcoin to the dollars worth and transfer it directly into your bank account.

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Do you have other ways or solutions on How to Turn Bitcoin to Cash in Nigeria? Drop them in the comment box.