How Much is One BTC in Nigeria Currency? Bitcoin is a digital currency that was created in 2009 by an anonymous entity known as Satoshi Nakamoto. Bitcoin represents a paradigm shift in the way we perceive and interact with money. Unlike traditional currencies issued by governments and central banks, Bitcoin is entirely decentralized, operating on a network powered by blockchain technology.
Bitcoin’s uniqueness lies in its ability to empower individuals with control over their assets, facilitate swift cross-border transactions, and serve as both a store of value and a medium of exchange.
Here are some of the reasons why Nigerians are using Bitcoin:
- Financial Inclusion: Bitcoin provides financial services to people who may not have access to traditional banking systems. In Nigeria, where a significant portion of the population is unbanked or underbanked, Bitcoin offers an alternative means of transferring funds.
- Remittances: Nigeria has a large diaspora. For these Nigerians living abroad, Bitcoin can be a low-cost way to send money back to their families in Nigeria. It is an affordable option for supporting their loved ones back home.
- Investment: Some Nigerians see Bitcoin as an investment opportunity. Bitcoin has become popular as a type of investment that’s based on speculation, where people are hoping that it will increase in value, allowing them to make a profit when they decide to sell it later.
- Economic Uncertainty: Nigeria has faced economic challenges, including inflation and currency devaluation. Bitcoin is seen by some as a hedge against these economic uncertainties.
- Online Commerce: Bitcoin can be used for online transactions. With the growth of e-commerce in Nigeria, more businesses are accepting Bitcoin as a payment method. This means that people can use Bitcoin to shop online and make purchases from a variety of businesses.
While Bitcoin offers opportunities, it also comes with risks, including price volatility and regulatory uncertainties.
How Much is One BTC in Nigeria Currency
As a trader, it’s important to understand that the price of Bitcoin (BTC) can be different on various crypto exchanges. This means that you need to know where to sell your Bitcoin to get the best rates.
It is like shopping for the best deal. Some exchanges might offer higher prices for Bitcoin, while others might not be as good. So, you’ll want to keep an eye on the rates on different exchanges and choose the one that gives you the most money when you sell your Bitcoin. This way, you can make the most out of your trading and get the best value for your BTC.
Right now, one Bitcoin is worth ₦59,240,605 Naira.
Selling BTC For Naira
Selling Bitcoin for Naira is a way to exchange your cryptocurrency for Naira. This can be useful if you want to turn your Bitcoin to physical money that you can use in your everyday life, whether it’s for shopping or paying bills.
Cardvest is the best platform when it comes to selling Bitcoin in Nigeria. It stands out as the best platform because it is really fast and super easy to use. Plus, it offers the best market rates, meaning you can get the most money for your Bitcoin when you trade with them.
To sell Bitcoin for Naira, follow these steps:
- Visit Cardvest.ng.
- Create an account and sign in.
- Click on the ‘Sell Now’ button.
- Choose Bitcoin as the cryptocurrency you want to sell. Cardvest supports Bitcoin, Ethereum, BNB, BUSD, USDT, Litecoin, USDC, and more.
- Specify the amount of BTC you want to trade.
- A wallet address will be provided for you to send your BTC.
- After the transaction is confirmed, your Cardvest wallet will be instantly credited with the equivalent amount in Naira.
- You can then withdraw the funds to your bank account whenever you want.
So, if you want a quick and stress-free way to turn your Bitcoin to Naira, Cardvest has got you covered. It is a trusted platform that makes selling Bitcoin a breeze, making it a favorite among cryptocurrency users in Nigeria.
