Are you thinking about cashing out to sell cryptocurrency in Nigeria? We have covered whether you have experience trading cryptocurrencies or are just starting. This article will provide you with step-by-step instructions on how to sell cryptocurrency in Nigeria, helping you to complete the transaction in a secure and easy manner.
Steps for Selling Crypto in Nigeria
Let’s now go through a few simple procedures on how to sell crypto in Nigeria:
1. Select a trustworthy exchange:
Choose a Bitcoin exchange that has a strong reputation for dependability and safety. Select a broker that enables trading in a variety of cryptocurrencies. Binance, Quidax, and Luno are some of the most popular options in Nigeria.
2. Create an Account:
You need a personal memorandum to start selling crypto. You need to add some personal information and do a profile check.
3. Adding Crypto into Your Account:
Your exchange account should receive the cryptocurrency you wish to sell from your wallet. To prevent errors, use the correct deposit address and double-check all the information.
4. Beginning a Sell Order:
Choose the cryptocurrency you wish to sell by going to the exchange’s trading area. Choose “Sell” and provide your asking price. Either place a “limit order” to sell at a predetermined price or a “market order” for a speedy sale at the current price.
5. Confirm the Sale:
Verify the order information once again and click “confirm.” You’ll notice the corresponding amount in Nigerian Naira (NGN) in your exchange account as soon as your sell order is executed.
6. Receive Your Money:
Following the completion of the sale, you may transfer your NGN to a Nigerian bank account that is linked to your exchange account. The majority of exchanges make this procedure straightforward.
Tips for selling Crypto Currency:
- Be Safe: In the field of crypto selling you need to deal with your real accounts and identity. Here safety may compromise. Then you need to do two-factor authentication in your account.
- Be ready with Recent Update: Always deal on the basis of recent market value and rates. It will be beneficial for your trade.
- Taxation: Before starting the crypto trade in Nigeria, you must check the government taxation policy on crypto trade.
- Keep Records: List every Bitcoin transaction you make, including the time, price, and reasons you sold. This will help you manage your finances and file your taxes.
The best course of action for managing your assets and obtaining cash is to sell crypto in Nigeria. By following these easy guidelines and being safe online, you can make the GC Buying experience secure and straightforward. There are many other methods to trade, including on the web, Android, and iOS.