In this article, I would be explaining a step-by-step process on how to sell your Ethereum in Nigeria, and things to consider before, during and after you take that step.
Decided to dive into the crypto world and take advantage of the digital currency? You would need to select an exchange platform, create an account, deposit the cryptocurrency (in this case; Ethereum), sell it, and withdraw to your local bank account.
Let’s break this down even further and shed some light on it.
Step One: Pick Best Ethereum Exchange platform:
This is the first step in your journey of selling ETH, and although it might not seem crucial, it is very important.
How? Picking the best crypto trading app is important as there are certain factors you need to put into consideration.
Availability of Ethereum: Make sure you confirm that ETH is available to sell on the platform.
Trading fees: These fees vary, but most crypto exchange platforms charge between 0% to 1% or even more per trade. When selling ETH, you should choose an exchange platform with a cheap trading fee.
Your fiat currency is supported: You also need to make sure your desired fiat currency is supported to be sent to your local bank account.
Withdrawal fees: When searching for a suitable exchange platform to sell your Ethereum, you need to choose with little or no withdrawal fees. Yes, some exchange platforms do not have a withdrawal fee.
For the best app to sell Ethereum in Nigeria, I recommend BREET
Step Two: Sign up/Register:
You have selected a suitable exchange platform, next, you have to create an account. Below are the steps you’ll normally come across in an exchange platform.
Enter an email address or phone number
Create a password
Confirm password
Enter full name
Enter Username
Click ‘Sign up/Register
After you’ve done these, you would need to verify your email address. To do this, an email will be sent to the email address provided and you’ll then follow the instructions as stated in the email.
Step Three – Deposit Ethereum:
Of course, to sell your Ethereum, you will need to deposit it into your wallet. To do this, you would need to generate an ETH wallet address. This wallet address is somewhat like your regular bank account number. You send it to the sender and receive your Ethereum in it after a couple of confirmations from the blockchain.
An Ethereum transaction usually takes between a few seconds to ten (10) minutes to complete. For faster processing, you can choose a higher network fee.
A network fee is a transaction fee incurred when you send cryptocurrency from one address to another. I guess you can say it is kind of like bank transfer charges when you transfer money between banks.
This step is also quite crucial. When depositing Ethereum into your wallet, you need to double-check and verify it. Why? If you send the wrong crypto into your ETH wallet, it will be lost forever and cannot be recovered.
Your Ethereum wallet allows you to receive Ethereum from anywhere in the world.
Step Four- Sell Ethereum:
At this stage, your transaction has been completed and your Ethereum is now reflected in your crypto wallet. Using a peer-to-peer exchange platform, you would need to search for a buyer willing to purchase your ETH, but with BREET, your cryptocurrency is automatically converted to the Naira equivalent, which you can then withdraw to your local bank account.
When selecting the best to trade Ethereum in Nigeria, there are a few factors to consider.
Fees: This refers to all types of fees such as deposit fees, withdrawal fees and trading fees. As earlier mentioned, you should choose a trading platform with the lowest possible fees to get the most out of your fiat received. BREET has NO WITHDRAWAL FEES.
Processing times: How long will it take for the fiat currency to arrive in your wallet or local bank account? Breet is instant.
Limits: Are there any minimum or maximum limits on how much you can transfer? How do they differ between withdrawal methods? Can you increase these limits by providing additional verification or ID?
Restrictions: Some platforms may impose certain restrictions which might hinder you. So, make sure you do your research on the platform you wish to use to have a seamless trading experience.
Is now a good time to sell Ethereum?
Although no one can predict the future, the market may be attentively examined. Look at the overall trends, how Ethereum has changed in recent weeks and months, and whether any upgrades are on the way, among other things. Follow crypto news in Nigeria to have a better understanding of the cryptocurrency industry and make an informed choice.
Take-home point, it is never a good or bad time to buy or sell bitcoins. You are expected to DYOR (Do Your Own Research).
Conclusion
Selling your ETH should be easy and stress-free and there are lots of factors you need to take into consideration when taking such a step.
For more help and support, contact them at [email protected], visit Breet website or call/WhatsApp 08090569499.
Source:Daily POST .
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