Wondering how to convert Bitcoin (BTC) to Nigerian Naira (NGN)? You are in the right place.
Even if you deem yourself a Bitcoin HODLer and are not looking to sell in the foreseeable future, it is still vital to know how to convert your BTC for some local currency (Nigerian Naira).
In this post, I will walk you through one of the most secure and simple ways of converting Bitcoin to Nigerian Naira.
Why you would need to convert Bitcoin to Naira
Unfortunately, very few retailers and businesses in Nigeria accept BTC as a form of payment.
That means you will need the local currency (Nigerian Naira) to conduct most of your day-to-day transactions – buying food, paying for utilities, paying for your car’s fuel, etc.
Fortunately, nowadays, if you are cash-strapped and got some BTC in your wallet, you can convert it to Nigerian Naira to gain liquidity.
You can imagine, at the time of writing this article, 1 Bitcoin was worth 15,999,688.20 NGN! Well, the BTC exchange rate keeps on fluctuating, but that’s a lot of money.
How to convert BTC to NGN
First, if you wish to cash out BTC, you will need to decide how you want to receive your local currency.
You can either sell BTC in person for physical cash or use 3rd party exchanges and transfer your money to a bank account.
For this post, we will focus on the most convenient, popular, and secure way of converting Bitcoin to Naira – cryptocurrency exchange platforms.
Convert Bitcoin to Nigerian Naira via cryptocurrency exchanges
A 3rd party exchange platform allows you to easily turn your Bitcoin to Nigerian Naira, U.S dollar, Euro, GBP, and other local currencies via its user-friendly website or app.
To start, you will have to find a reliable BTC exchange platform that supports your country (Nigeria).
Here is how it works:
- Create an account and complete the verification process
- Deposit your Bitcoin into your account/wallet
- Cash-out your BTC to NGN via bank transfer or PayPal
Bitcoin to Naira calculator
Do you want to know how much 1 BTC to Naira? Use this calculator! It’s simple!
Bitcoin to Naira prices today – June 2021
How much is $200 BTC to naira?
Today (02.07.2021) 200 BTC is 2,740,320,772 Nigerian Naira “₦” (NGN)
How much is $50 worth of bitcoin in Naira?
50 Bitcoin (BTC) is 685,080,193 Nigerian Naira “₦” (NGN)
How much is $15 worth of bitcoin in Naira?
Today 15 Bitcoin (BTC) is worth 205,524,058 Nigerian Naira “₦” (NGN)
Conclusion: Bitcoin to Naira conversion
As BTC and other cryptocurrencies continue to grow in popularity, more and more online platforms are coming to help traders change bitcoin to their preferred local currency in a quick and secure way.
Usually, much of the attention these days is channeled towards acquiring BTC. However, as we mentioned earlier, it is also important to know the options you have when it comes to cashing out Bitcoin.
So, take a few seconds of your time today and open an account with cryptocurrency exchange. Why be left behind while others are enjoying the convenience of converting your Bitcoin to Nigerian Naira?