- Cryptocurrency
- By Cubex Team
How to Sell USDT in Nigeria: A Step-by-Step Guide
In recent years, cryptocurrencies like USDT (Tether) have become increasingly popular in Nigeria. Whether you’re an experienced crypto trader or someone just starting out, you may find yourself needing to sell USDT in Naira for various reasons, such as making a purchase, withdrawing funds, or converting to local currency. This post will guide you on how to effectively sell USDT in Nigeria, convert USDT to Naira, and find the best crypto app to sell USDT.
Why Sell USDT in Nigeria?
USDT, a stablecoin pegged to the US Dollar, is one of the most widely used cryptocurrencies globally. Unlike volatile coins like Bitcoin and Ethereum, USDT’s value remains stable, making it an attractive option for holding value. However, if you want to liquidate your USDT and convert it into Naira, the Nigerian local currency, you need to use trusted platforms that facilitate the process securely.
Step-by-Step Guide on How to Sell USDT in Nigeria
- Choose the Best Crypto App to Sell USDT: The first step to selling USDT in Nigeria is to choose the best crypto app that allows for easy and secure transactions. Look for platforms that are well-established, have a good reputation, and offer competitive exchange rates for converting USDT to Naira. Cubex is one of the best crypto app for selling USDT in Nigeria.
- Create an Account and Verify Your Identity: Once you’ve selected your preferred platform, you’ll need to create an account. This usually involves providing basic information like your name, email address, and phone number. Most platforms will also require identity verification to comply with local regulations (KYC – Know Your Customer). Verification may involve uploading a government-issued ID and a selfie.
- Deposit USDT into Your Account : After your account is set up and verified, the next step is to deposit your USDT into the platform’s wallet. Most platforms will provide you with a USDT deposit address where you can transfer your coins. Make sure to double-check the address and ensure you’re sending USDT on the correct network (e.g., ERC-20 or TRC-20).
- Sell USDT in Nigeria for Naira : Once your USDT has been successfully deposited into your account, you can now proceed to sell USDT for Naira. On most exchanges, you can simply select the option to sell your USDT and specify how much you want to convert. After reviewing the exchange rate, you can confirm the transaction. Some platforms may offer an instant sale feature, while others might require you to place a sell order, which will be matched with a buyer.
Tip: Before finalizing your transaction, compare exchange rates across different platforms to ensure you’re getting the best deal when converting USDT to Naira.
5. Withdraw Your Naira: Once the sale is completed, you can withdraw your Naira to your local bank account. Most exchanges offer seamless bank transfers, and the process can take anywhere from a few minutes to a few hours, depending on the platform and your bank.
Best Crypto Apps to Sell USDT in Nigeria
As mentioned, choosing the right platform is crucial for a smooth experience when selling USDT in Nigeria. Here are some of the best crypto apps and exchanges to consider:
- Cubex: Known for its low fees and a wide range of payment options, Cubex is a great choice for selling USDT in Nigeria. The Cubex App also provides advanced features for users to store USDT, convert USDT and use it to pay for bills.
- Luno: Luno is an easy-to-use platform with a clean interface. It’s perfect for beginners looking to convert USDT to Naira without confusion. The platform also offers educational resources to help users understand the basics of crypto trading
- Quidax: Quidax is Nigerian-owned and offers a seamless crypto-to-fiat exchange process. It’s ideal for users who want to sell USDT quickly and with minimal hassle.
- Remitano: This P2P platform offers a secure environment for buying and selling USDT. It also supports Naira withdrawals and has a good reputation for protecting users during transactions.
Tips for Selling USDT in Nigeria
- Check Exchange Rates: Cryptocurrency exchange rates can vary significantly between platforms. It’s important to compare prices before proceeding with any sale to get the best deal when you sell USDT in Nigeria.
- Consider Transaction Fees: Every platform has its own fee structure. Be sure to take transaction fees into account to avoid surprises and ensure you’re getting a good deal.
- Secure Your Account: Always enable two-factor authentication (2FA) on your crypto account to protect your funds from unauthorized access.
- Use Trusted Platforms: Stick to well-established and reputable platforms when selling USDT. Scams and fraud are prevalent in the crypto world, so it’s essential to choose platforms that are secure and comply with local regulations.
How To Sell USDT with CubEx
Selling USDT doesn’t have to be a complicated process. With CubEx, it becomes a straightforward process that can be completed in just a few steps. Here’s how you can get started:
Step 1: Download the CubEx app
First, Visit Google Play Store or App Store on your phone and search for the CubEx app. It’s available for both iOS and Android devices. Download and install the app to begin your crypto trading journey.
Step 2: Create a CubEx account
Once you’ve downloaded the app, open it, and create a new account. You’ll need to enter some basic information to get started.
Step 3: Verify your identity and connect your bank account
To ensure secure transactions, you’ll need to verify your identity. Follow the instructions on the app to upload the necessary documents. After verification, connect your bank account to enable you to receive your funds once your USDT is sold.
Step 4: Choose the amount of USDT you wish to sell
Now, it’s time to sell your USDT. Enter the amount you want to sell in the app. The interface makes it easy to see the current exchange rate and how much you’ll receive.
Step 5: Enter the specified USDT address you wish to send to
Next, you’ll need to enter the USDT address where the Tether (USDT) will be sent. Double-check this address to ensure it is correct, as crypto transactions cannot be reversed once completed.
Step 6: Confirm the transaction
Finally, review all the details of your transaction. Once you’re sure everything is correct, confirm the transaction. CubEx will process your request. And in few minutes, your funds will be sent to your bank account.
Conclusion
Selling USDT in Nigeria and converting it into Naira has never been easier, thanks to the availability of reliable crypto apps and platforms. By following the steps outlined above and choosing the best crypto app to sell USDT, you can safely and efficiently exchange your USDT for local currency. Now that you know how to sell USDT in Nigeria and convert USDT to Naira, you can start trading confidently. Happy crypto trading!
