In this article, I will share seven platforms you can sell your Bitcoin and recieve naira in your bank account.
- Noones
- Bybit
- Remitano
- Quidax
- Bitget
- Yellow Card
- Paxful
Most of them are P2P platforms, but they are all safe to sell your Bitcoin once you follow their rules.
1. Noones
Noones is a leading P2P Bitcoin trading app that connects you with Bitcoin traders online who are looking to buy Bitcoin.
To sell your Bitcoin, you create and verify your account, then post an offer on the app of the amount of Bitcoin you want to sell via bank transfer.
Immediately you will get a list of offers from active buyers who will send naira to your bank account and gbam you are done!
You can track the Noones rate on our Noones Converter page.
2. Bybit
Bybit is one of the top platforms where you can easily sell your Bitcoin and recieve naira in your bank account.
The app design is similar to the Binance App. The app design may be a little complex if you are not a tech person or a seasoned Bitcoin user. But once you are familiar with it, you will find it easier and faster to sell on Bybit than on other platforms.
To sell your Bitcoin, download the Bybit App and register an account in a few minutes. Once your account is verified, you are good to go.
You can track the Bybit rate on our Bybit Converter page.
3. Remitano
The last time I used this app was in 2017, although I still have friends and family who use the app on a frequent basis to date.
Remitano is a peer-to-peer marketplace that allows you to trade your Bitcoin for Naira directly with buyers, with a 1% trading fee. What this means is that you post that you want to sell your Bitcoin and someone who wants to buy will jump on it and send you naira to your bank account.
The platform ensures secure transactions with an escrow service and offers 24/7 customer support. Available on both Android and iOS.
You can check and compare the Remitano Bitcoin to Naira exchange rate on Monierate.com.
4. Quidax
Quidax is a user-friendly app popular in Nigeria that allows you to sell your Bitcoin and recieve naira in your bank account. Your Bitcoin is safe according to them, so less worries.
One thing I didn’t mention earlier is that some of these apps charge a fee when you want to perform a transaction. But Quidax has low fees (in naira) and no hidden charges.
The intuitive interface, instant withdrawal feature, and the app’s availability on Android make it a convenient choice for beginners.
Check out the current Quidax Bitcoin to Naira rate on monierate.com.
5. Bitget
While I haven’t used this app before to sell my Bitcoin. The Bitget app is similar to Bybit and Binance.
You can sell your Bitcoin via their P2P marketplace and recieve naira in your bank account.
Just get your account verified.
The Bitget rate is not yet on monierate.com, but we are still working on this and soon enough you can track and compare the Bitget Bitcoin rate on monierate.com.
6. Yellow Card
Say yello to Yellow Card. Yellow Card makes it easy to sell your Bitcoin in Nigeria. Withdrawals are nearly instant, so you can be sure to get your money in less than 5 minutes.
Sure, you must verify your account first before you can convert your Bitcoin to naira. The mobile app supports multiple local payment options and is available on both Android and iOS devices.
You can find the Yellow Card Bitcoin to Naira exchange rate on monierate.com.
7. Paxful
This app is an OG in the Nigeria crypto space. If you have used Noones before, you will find out that Paxful and Noones are pretty similar.
Once you are a registered user on the platform, to sell your Bitcoin to naira, you post a SELL offer then you will see a list of buyers offers, you can then select the offer you want, the buyer will send the money to your bank account.
The platform supports over 350 payment methods. You can check the Paxful Bitcoin to Naira rate here on monierate.com.
Selling Bitcoin in Nigeria FAQs
Q: How does P2P trading work? In P2P trading, buyers and sellers are connected directly through a platform. They negotiate terms such as price and payment method among themselves, often using an escrow service to secure the transaction.
Q: Can I sell Bitcoin for cash using P2P in Nigeria? Yes, many P2P platforms support cash transactions. However, it’s important to follow safe trading practices when dealing with cash to avoid fraud.
Q: Is P2P trading legal in Nigeria? Yes, P2P trading is legal in Nigeria. While the Central Bank of Nigeria has imposed regulations on banks regarding cryptocurrencies, trading itself is not illegal.
Q: Where can I buy Bitcoin in Nigeria? Nigerians can use P2P services to trade BTC to adapt to the restrictions imposed by the CBN ban.
Q: Which P2P trading platform is the best in Nigeria? Based on recent news, the best P2P trading platform in Nigeria is a subject of debate and can vary based on user preferences and needs. However, platforms like Bitnob and Bybit have been highlighted for offering one of the best crypto security in Nigeria.
Q: How do I withdraw Bitcoin to my bank account in Nigeria? If you have Bitcoin in your wallet on an exchange like Bybit, you can sell it out using the P2P section. Bybit will match you to a buyer who will then credit your bank account with the naira equivalent of the bitcoin.
Q: Can you make money with P2P trading? Yes, you can potentially make money with P2P trading, particularly through strategies like arbitrage. P2P trading allows individuals to buy and sell digital assets directly with each other, often leading to price differences that can be exploited for profit. Arbitrage involves buying a cryptocurrency at a lower price on one platform and selling it at a higher price on another, capitalizing on these discrepancies.