Bitcoin continues to attract people to the crypto market. This is due to its potential for a moonshot, which has made it the most expensive cryptocurrency. But as many Nigerians buy and sell this digital asset for maximum gains, it is important to know how to sell Bitcoin in Nigeria at the best rates.
Nigeria is one of the top global Bitcoin markets. According to Statista, this showed Nigeria being the third-ranked country in terms of global Bitcoin trading volume using local currencies in 2020.
This data revealed the high Bitcoin adoption rate in the country, as the over $400 million being traded in Bitcoin in Nigeria was twice that of the United Kingdom in 2020.
Notably, Bitcoin has a slightly stable price as it rallies to $30,000. This portends a positive market outlook that can trigger people to buy and sell their BTC. But as Bitcoin trading is about selling your Bitcoin to make profits, knowing the best place to sell your BTC at juicy rates is essential – Prestmit.
What is Prestmit?
Prestmit is an over-the-counter (OTC) trading platform where you can buy and sell cryptocurrencies and gift cards. Notable as one of Nigeria’s top crypto trading platforms, you can sell your Bitcoin at the best rates that outweigh other platforms.
As a Nigerian seeking to sell your Bitcoin, this platform boasts over 700,000 users trading Bitcoin and other digital assets to make maximum gains. Therefore, you can sell Bitcoin for cash (naira) and also sell gift cards for Bitcoin on Prestmit.
This platform is available for download on Google Play Store or Apple Store to start trading without hassle in the country.
Features of selling Bitcoin at Prestmit
1. Better rates and fees
While selling your Bitcoin, bitcoin rates are high on Prestmit, which offers you relatively low transaction fees. This makes the platform one of Nigeria’s top choices for crypto traders. In addition, there are no hidden fees/charges when trading your crypto asset on Prestmit.
Therefore, you can be sure to sell your Bitcoin at the best rates when using the platform.
2. Sophisticated Security
Prestmit employs advanced security features to ensure the platform’s safety of transactions and funds. Its security system eliminates the risk of identity theft that can lead to possible loss of funds.
One of the security features is two-factor authentication (2FA), which restricts unauthorized access to your wallets. This gives you absolute control over your account and wallet so malicious entities can not steal your funds.
3. Fast Transaction
Transaction confirmations on Prestmit are considerably fast. This means you will receive payment into your wallet within 15 – 30 minutes after selling your Bitcoin on the platform. Prestmit is always with you throughout the course of your transaction until its completion.
4. No Trading Limits
There is no limited or minimum amount of Bitcoin to sell on Prestmit. So, you can sell as much BTC as possible on the platform for impressive rates. This is to give an excellent experience for all traders on Prestmit.
How to sell Bitcoin on Prestmit at best rates
- Download the Prestmit app on Google Play Store or Apple Store
- Create a Prestmit account and log in
- Click on “Buy & sell cryptocurrency”
- Click on “Sell cryptocurrency”
- Click on “Sell BTC”
- Generate a Bitcoin wallet address
- Follow the prompts to sell your Bitcoin
- You will receive payment in your wallet after successful transaction confirmations
When to sell Bitcoin in Nigeria
There is no best time to sell Bitcoin in Nigeria as the crypto market is volatile – therefore, it is largely unpredictable. But you can always follow the basic trading principle by selling your Bitcoin when the price increases.
People often make mistakes by selling their Bitcoin at the wrong time. This could spell a loss of profit or even your capital. It is believed that the fear of missing out (FOMO) is one major factor that contributes to this trading rush.
Traders tend to sell their Bitcoin when they should hold on to it until the price increases. However, fear and anxiety can lead traders to sell their Bitcoin, which could lead to loss.
For instance, when you buy your Bitcoin at $24,000, and the price is rallying towards $30,000, it may be good to sell your Bitcoin and buy the asset again when it has dropped to less than $24,000.
Moreover, consider selling your Bitcoin in percentage and not all the portfolio. This keeps you on track to not miss out when there is a major spike in Bitcoin price that you can leverage by selling your BTC.
Conclusion
We can not overemphasize the viability of Bitcoin as a top crypto asset. That is why the number of crypto traders continues to grow to leverage the market optimism. But as making a profit is the hallmark of crypto trading, knowing how to sell your Bitcoin is important.
If you are considering selling your Bitcoin in Nigeria, you may consider selling on Prestmit for the best rates.
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