Price of bitcoin in Naira 2023
Starting bitcoin trading is one of the best and fast ways of making Money online from home.
Bitcoin (BTC) has been around since 2009 when it initially traded at around $0.0008. The coin passed the $1 to 1BTC mark in 2011. It then went on a wild journey.
Selling 20 Bitcoin Cash you get 1156644 Nigerian Naira. The BTC to NGN conversion rate today is NGN11,514,872.64 and has decreased by 3.32% in the last 24 hours
Before you start trading bitcoin, you should know this, the price of bitcoin is not always stable. It may Go up or it may come down
Normally, bitcoin trading involves the buying and selling of cryptocurrency at an exchange rate. It works just like any other trading business, where you buy and sell for profits. But with Bitcoin trading, you don’t sell physical goods.
You can also trade by checking for the price rate of Bitcoin using CFDs, this means of selling allows you to take a stand in the market movement without owning a Coin.
Many Nigerians are making a living just by buying and selling Bitcoins. A lot are still aspiring to join this lucrative business.
So for starters here is a guide on how to trade and the price of bitcoin in naira.
How much is Bitcoin in Naira
1 BTC = 12,637,174.090302 NGN, to know the price of bitcoin in naira, you need to check the currency rate against all the world currencies.
To know the price of bitcoin in naira you should use the bitcoin calculator. This will give you the exact price.
You will need to use the Bitcoin calculator to check the Price of coins in naira
Is Bitcoin trading legal
Many developed countries in the world such as the USA, Canada and the UK now allow bitcoins to be used in their daily transactions for payments.
While some countries like China and Saudi Arabia have abolished the use of bitcoins in their country. So it’s illegal to use it there.
Despite it being used in some countries doe buying goods and services, there are still no known legal International laws that regulate Bitcoin.
How can I trade Bitcoin in Nigeria
Bitcoin is one Online business you can start now,
Many people all over the world are making money from Bitcoin trading, but Nigerians are not also left out.
Bitcoin trading is now been overpopulated by Nigerian as means of leveraging themselves from poverty.
So, you too can start Bitcoin trading but be careful not to be scammed.
There are lots of bitcoin scammers online who will rip you off of your hard earn money if you are not careful.
The best way to start bitcoin trading in Nigeria is to buy your cryptocurrency in Nigeria from credible platforms such as BINANCE, PATRICIA, BUYCOINS and QUIDAX.
This trading platform has been around for a while, so they have the gain trust and confidence of individual traders.
They also offer you some amazing features you can’t get elsewhere, such as; fast transactions, low cost and supportive staff.
Also, AvaTrade offers you the opportunity to BUY (go long) or SELL (go short) on all Bitcoin trades. This service is available to you 24/7.
Also, read How to print jamb examination slip 2023
Guide on how to trade bitcoin for beginners
The newbies are always curious about how to trade Bitcoin, if not properly guided they may become victims to Bitcoin scammers.
That is why we have compiled a list of guides on how to Trade your bitcoin safely.
1. Choose a good reliable platform for your bitcoin trading. To do this, look for large platforms and read reviews about them from people.
Choosing the right platform will help you stay clear of fraud and also reduce the risk of money laundering.
2. Before starting to explore the market, don’t just jump into Bitcoin trading just because others are doing it.
Take time to study and understand the markets before venturing in. Have the right knowledge about what you want to do, or better still have a mentor.
3. Try to be independent, that means you should trade on your own or through a broker. But in whatever way, you should learn to be on your own.
4. Have your trading strategy, and be different from others. Don’t do what others are doing.
Strategies are divided into three types; long-term (from a year) medium term ( from a month to a year) and short-term ( less than a month) all these plans depend on how long you wish to hold the coin.
5. Know the risk and avoid them, no business or investment is without risk, so the earlier you know this the better for you.
6. Don’t invest more than you can lose, always watch your spending. Make sure you are in line with your budget, don’t invest what will crash you down.
7. Always start small, don’t put all your resources into it. Slow and steady wins the race, so invest little at a time over a long period.
Is Bitcoin trading safe
Just like every other business and investment, bitcoin involves buying and selling of coins so it involves some level of risk.
Some risks include fraud, bitcoin scams and potential hacking, which its ad iced you choose a good platform.
Irrespective of this many people still considered Bitcoin a good business due to its long-term growth and value.
So you should invest only in what you are comfortable with.
How to make money with Bitcoin in Nigeria
There are many ways you can make money from bitcoin in Nigeria, below are the lists ;
- Buying and Selling Bitcoin.
- Trading Bitcoin.
- Mining Bitcoin.
- Accepting Bitcoin as Payment.
- Buying and Holding Bitcoin.
- Microtasks.
Exchange is a secure Bitcoin platform that lets you safely and easily sell your cryptocurrency online. They are a reputable Bitcoin exchange provider in Nigeria that has helped countless individuals sell their cryptocurrency including bitcoin and USD for naira in nigeria
Conclusion
As a newbie in Bitcoin trading, you should know the price of bitcoin in Naira, this will help you invest right.
Knowing the price of bitcoin in Naira should be a guide to every Nigerian trading on bitcoin. This will help us know our investment and return profits.
If you have any questions about the price of Bitcoin in naira you should go ahead and use the comment box.
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Am a tech enthusiast who loves sharing tech tips and how to do step by step tutorials.
