Prestmit is undoubtedly the best platform for Bitcoin trading in Nigeria. Prestmit provides the best app to buy and sell Bitcoins in this part of the world.
Nigeria is at the top of the list when it comes to crypto trading globally. The country is ranked second only behind the USA in the use of cryptocurrency worldwide.
Although the Central Bank of Nigeria has banned activities regarding cryptocurrency in banks and other financial institutions, the use of digital currencies still thrives in Nigeria.
Peer-to-Peer trading platforms have also thrived as a result of the order given by CBN. Today, Nigerians have used apps by crypto exchanges/platforms for the buying and selling of crypto assets. This, in turn, has increased the number of Nigerian users on cryptocurrency exchanges like Binance, Coinbase, and Prestmit.
Bitcoin, which is the number one crypto asset, has been the ‘crypto gold‘ that everyone seeks to have. BTC is available on most exchanges/platforms worldwide.
It is however not just enough to buy/sell Bitcoins on any platform/exchange. There are important things to consider before putting your money on Bitcoins on these platforms. The best available platform for you to make profit should be on your mind.
If you are looking for where to buy and sell Bitcoin in Nigeria, you have come to the right place. Prestmit gives the best option for Bitcoin trading.
In this post, we will learn about the Prestmit app for buying/selling Bitcoin which was recently launched. Before then, let’s learn more about Bitcoin and why it is at the top of most investors/traders’ list.
Table of Contents
- What Is Bitcoin?
- Why Is Bitcoin Top On Crypto Traders List?
- Where To Trade Bitcoin In Nigeria
- Why Choose Prestmit App For Bitcoin Trading In Nigeria?
- Best App To Buy & Sell Bitcoin In Nigeria – Prestmit
- How To Buy Bitcoin On Prestmit App
- How To Sell Bitcoin On Prestmit App
What Is Bitcoin?
Bitcoin is a decentralized digital currency, without a central bank or single administrator. It can be sent from user to user on the P2P bitcoin network without the need for intermediaries.
The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
As of today, Bitcoin is the largest and most popular cryptocurrency. Several other coins have been created using its model and are known as altcoins i.e. alternative currency.
The price of Bitcoin today is $35,486.91 USD with a 24-hour trading volume of $35,017,750,130 USD. The current CoinMarketCap ranking is #1, with a live market cap of $673,080,405,621 USD.
Why Is Bitcoin Top On Crypto Traders List?
Here are some of the reasons why people want to buy and sell Bitcoin. They are listed below.
1. Distrust Of The Financial System
Bitcoin came to be after the global financial crisis of 2007/8. It was proffered as a solution to the reckless behavior of large financial institutions & the inability of government to regulate them.
The advantages digital currency has over the traditional forms of money makes it one to consider for the people. Money laundering, for example, is less common than cash currency.
As there has been a huge sense of distrust of the financial system, Bitcoin, which is decentralized therefore looks like what to try out.
People who saw the value of BTC jumped on it to make it one of the fastest growing new technologies in history. Bitcoin has enjoyed huge success despite its risky nature and been an asset to trade for profit.
2. Make Quick Money
Many people want to trade Bitcoin as it is seen as a way of making quick money. The unstable price of crypto assets have made many to study its market in order to make a fortune.
Many who bought Bitcoin in the early days became millionaires overnight. There are a lot of stories of ordinary people and early investors who made their fortune in BTC with relatively little initial investment. Even the early miners are not left out as they earned BTC with ease.
These stories of the early investors have captured people’s imaginations and make them look to BTC to get rich. Although there have been bubbles at some points for various reasons, people still key to the possibilities in crypto.
In Africa where there are issues with the financial institution as well as poverty ravaging the land, people trade Bitcoin to gain financial freedom. The continent, for this reason, has the largest population of P2P users in the globe.
3. Hedge Against Inflation
In Nigeria for example, many people pitch their tents with cryptocurrency to hedge against inflation. The high dollar in the exchange market has contributed to the ‘crippling’ economy, Many therefore take Bitcoin trading as a solution.
Nigerians are listed top among the users of the leading crypto exchanges such as Binance, Coinbase, Kraken, etc. Many people buy & sell Bitcoin and several other alternative coins for this reason.
4. Decentralization Of Crypto
Many crypto assets are decentralized. This means that no company, government, or organization has complete control over the currency. Some people really care about decentralization which helps to send/receive money without the notice of banks & other financial institutions.
Although some governing banks like the Central Bank of Nigeria have banned activities involving crypto in financial institutions, peer-to-peer platforms which are decentralized have been an option. One of the best P2P platforms in Nigeria today is Prestmit.
5. New Financial Plans
People now focus on Bitcoin and other crypto assets because of its new uses of financial alternatives. These programs are called DeFi (decentralized finance).
Some of the top DeFi programs offer innovative approaches to peer lending. In other decentralized systems, users can lend any amount, without putting these funds under control. This is done automatically via smart contracts in blockchain.
Where To Trade Bitcoin In Nigeria
Several Bitcoins trading companies have mobile applications created to buy and sell Bitcoins. Top on the list is Prestmit, a digital exchange platform, launched in 2019.
This is the place to go if you want to exchange Bitcoins in Nigeria. As of today, there are over 200,000 users of this platform which began with 10,000 users in its first year.
Prestmit is a user-centric platform designed for users to trade, buy and sell digital assets as well as buy bitcoins with gift cards. The platform is notable for its presence in Africa’s most populous nation and fast-rising nation, i.e. Nigeria and Ghana. This makes the Nigerian Naira and Ghanaian Cedis part of the payment options on the platform.
Prestmit has just launched the new version of its mobile app which makes it the talk of the town right now. The latest version is much faster and easier to give users a better experience. The app can be used for your Bitcoin trading.
Why Choose Prestmit App For Bitcoin Trading In Nigeria?
As you know that the platform/exchange you use for your crypto deal is as important as the token you choose for your crypto trading. Here are the reasons why you need to consider Prestmit for your Bitcoin trading.
1. Always Available
Prestmit is available whenever you want to trade. You can get your crypto deals as well as gift card exchange done anytime you want it done.
2. Built With Love
This platform is designed with the users in mind. The rates here are true with the market rates. The aim is not only to make profit, but to ensure every user has an amazing experience while using the platform.
3. Use Multiple Payment Options
You can make payment on this platform using fiat currencies and digital currencies. Nigerian Naira, Ghanaian Cedis, and Tether (USDT) are payment options on Prestmit.
4. Fast Transactions
Users count Prestmit as one of the best digital exchange platforms for its speed of transaction. The payment facility is one of the best out there, you get your payment the same minute (instant).
5. Easy To Use
Prestmit is as easy as writing your name and email address. The platform offers an intuitive, beginner-friendly interface and 24/7 customer support for your trade. You can register your digital wallets in a minute on the platform.
Best App To Buy & Sell Bitcoin In Nigeria – Prestmit
The recently launched Prestmit app is currently the best app to buy and sell Bitcoins in Nigeria. Listed below are the reasons the Prestmit app is tipped as the best app for your BTC trading in Nigeria.
1. It Is Faster
The latest version of the Prestmit app makes your transaction faster than ever. Transactions only take minutes and payments are instant once requested. Both naira and crypto withdrawals on the platform are instant.
2. It Is Much Easier
One of the reasons Prestmit’s users can’t help but use the app is because it is easy to use. You can download the app with ease as well as trade with ease. The new app is built to give you the simplest trading experience ever.
3. Better Experience
The launch of the new app is to serve its users who have given it top ratings much better experience. The latest version is a boost for Bitcoin and other crypto trading. The good rates provided on this platform coupled with its user friendly app gives you an awesome experience. All you need to do is to upgrade your app to the latest version or download the app if you are new to Prestmit.
How To Buy Bitcoin On Prestmit App
Buying Bitcoin via the Prestmit app is as simple as A, B, C. Once you register an account on the app, you can enjoy an awesome trading experience to make profit with your BTC. Below are the steps to take when buying Bitcoin on Prestmit app.
2. Log in on your Prestmit account.
3. Generate a Bitcoin address.
4. Click on ‘Buy Bitcoin’ from the list of fiat/local currencies provided.
5. Select a preferred payment method.
6. Enter in Nigerian Naira or Ghanaian Cedis the amount of Bitcoin you want to buy.
7. Your order will be received upon the successful completion of the details.
8. Upon the confirmation of payment, the equivalent Bitcoin will be transferred to your Prestmit wallet.
How To Sell Bitcoin On Prestmit App
Before you start trading Bitcoin on our platform, you need to have a PRESTMIT BTC wallet. If you don’t have this, please generate one on the Bitcoin Wallet page.
Once your BTC Wallet address has been generated, it becomes yours permanently. You can then save this address somewhere and receive bitcoins with it anytime!
To sell bitcoins, follow the details below:
Any bitcoin sent to your wallet address, after getting 3 confirmations, will be automatically converted to NAIRA using the current rate. Current rates can be found on the bitcoin wallet page.
This means that if you send $100 worth of bitcoin and the rate is 460, your account will be credited with 46,000 Naira after the bitcoin gets 3 confirmations. The whole process is fully automated.
There is a rate table on the platform where you can check for current rates.
The value there changes based on the current market rate. Your bitcoin will be converted according to the corresponding rate. If the bitcoins you sent are not in USD, our system will convert it to USD automatically. But you can check for yourself on Preev.com.
After sending bitcoins to your address, you may be wondering: “Do I have to do anything?” “How long till I get a confirmation?”. This and many more of your questions will be answered below.
ANSWER: No, you don’t have to do anything. Just wait.
ANSWER: The Naira equivalent is added to your balance after 3 confirmations from the bitcoin network. This usually takes approximately 15-30 minutes and is done to avoid fraud and ensure transaction reputability. If your transaction is taking too long, that means the network fee used when sending was low or the bitcoin network is congested, kindly be patient.
Answer: Yes! You can send BTC from any country, from any wallet, and also from any bitcoin ATM machine (Click the link to see how to send from bitcoin ATM).
Answer: There is no minimum or maximum limit.
Note that your bitcoins cannot be stored on the platform because it will ALWAYS be converted to Naira automatically.
Answer: Prestmit is equipped with modern security tools to help secure your account at all times. These include a centralized security architecture that secures all components and layers within the platform.
DO YOU NEED HELP?
If you need help concerning anything, you can reach out to Prestmit.