Last Updated on February 6, 2023
How do you trade Bitcoin in Nigeria with Breet? Bitcoin trading has become so popular in Nigeria, to the extent that every 3 in 10 Nigerians own Bitcoin, as a result of its decentralised structure and potential for high rewards.
Bitcoin offers a store of value that is independent of the stability of conventional currencies and enables users to move money safely and easily. With Bitcoin, a Nigerian can send money eye from one country to another continent stress-free.
Breet App is a user-friendly platform that makes it easy for anyone to sell and trade Bitcoin. With Breet’s simple interface, users can quickly and easily manage their Bitcoin transactions from the comfort of their mobile devices. Additionally, the Breet App offers robust security measures to protect users’ funds, including two-factor authentication and secure encryption.
Breet App is the best choice crypto trading app to take into consideration if you live in Nigeria and are interested in trading Bitcoin. You can sell and trade Bitcoin with ease because of its user-friendly and safe platform, which makes it a wonderful way to get started in the cryptocurrency trading industry.
See: Best Bitcoin Wallets in Nigeria
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Understanding Bitcoin Trading in Nigeria
Bitcoin originally became well-known in Nigeria as a method of financial investment and settlement for goods and services. However, as more people became aware of the possibility of big returns from investments like just HODLing, they started using it for speculative purposes.
The ability to purchase, sell, and store digital assets is now made possible in Nigeria through a number of exchanges and platforms that offer Bitcoin trading services.
Due to a number of causes, including a lack of confidence in conventional financial institutions, high inflation rates, and a desire for alternative investment alternatives, Bitcoin has become immensely popular in Nigeria. The popularity of Bitcoin has also grown as a result of how simple it is to find information about it and the rise in success stories.
Nigeria’s regulatory framework for bitcoin trading is still in its infancy, meaning that Bitcoin is still new to the money industry. There are currently no clear laws or rules governing cryptocurrency trading. However, the Central Bank of Nigeria has cautioned those thinking about trading Bitcoin and has issued warnings about the possible risks of investing in cryptocurrencies.
Regulations to give traders and investors more clarity and protection are probably going to be implemented as the market expands.
Why Breet App Is Good For Bitcoin Trading In Nigeria
The go-to app for crypto selling in Nigeria is Breet App. It boasts the best crypto exchange rates in the country and is known for its automation, user-friendliness, speed, security, and efficiency.
If you just want to receive crypto and get a fiat equivalent for it, Breet App is an automatic cryptocurrency exchange platform that helps individuals and businesses quickly convert their crypto into fiat currency.
By using Breet’s over-the-counter method, you can avoid the hassle of constantly monitoring cryptocurrency market charts and the tedious explanations of how bitcoin works. Breet allows users to securely convert and cash out their crypto into real money in just 5 minutes, without the need for peer-to-peer trading or a third-party intermediary.
Breet offers a hassle-free and cost-effective solution for converting Bitcoin in Nigeria. The app comes with no fees for processing, receiving, or withdrawing money, making it a completely free option. Additionally, Breet offers some bonuses and perks to its users. Nigerian crypto traders no longer have to worry about high or unexpected fees, as Breet provides a straightforward and cost-free platform.
Breet stands out as an easy-to-use, affordable, and popular choice for trading cryptocurrency. At present, it’s widely considered the best app for selling cryptocurrency in Nigeria at the most favourable rates – a claim that holds true.
Creating an Account
To set up a Breet App account, follow these simple steps:
- Download the Breet App from the App Store or Google Play Store
- Launch the app and click on the “Sign Up” button
- Fill in your personal details, such as name, email, and password
- Verify your email by clicking on the verification link sent to your email address
- Set up your Breet App account password
Verifying your Identity
Setting up your Breet App account requires you to verify your identity. By doing so, you can protect your account’s security and stop fraud.
To verify your identity, follow these steps:
- On the Breet App, click on the “Identity Verification” button
- Upload a clear image of your government-issued ID, such as a passport or driver’s licence, or voter’s card
- Take a selfie to confirm your identity
- Wait for the Breet App team to review your submission and approve your identity verification
Fund your Breet App Account
You can now fund your Breet App account to start trading Bitcoin after having your identification confirmed. Using the Breet App, you may purchase cryptocurrency at a discount and then sell it at the best price.
That’s all, then! You may now use the Breet App to trade Bitcoin. Remember to turn on two-factor authentication for your account and to confirm the recipient’s address before completing any transactions. This way, you are assured of security.
Trading Bitcoin with Breet App
How to Sell Bitcoin with Breet App
Selling Bitcoin with Breet App is an easy and straightforward process. Here are the steps you need to follow:
- Open the Breet App on your device and log in to your account.
- On the dashboard, you will see the option to “Sell Bitcoin.” Click on it.
- Enter the amount of Bitcoin you wish to sell and choose the local currency you want to receive the funds.
- Review the details of the transaction, including the current market price, and make sure that everything is correct.
- Click the “Sell” button to initiate the transaction.
That’s it! The process is simple and quick, and you should receive the funds in your local currency in no time.
How to View Trading History on Breet App
If you want to view your trading history on Breet App, you can easily do so by following these steps:
- Open the Breet App and log in to your account.
- On the dashboard, click on the “History” tab.
- Here, you will see a complete record of all your previous transactions, including the date and time, the type of transaction (sell), the amount, and the status of the transaction.
You can also use the filters to view specific transactions based on different criteria, such as the date range, the type of transaction, and more. This makes it easy to keep track of your trading activities and monitor your portfolio performance.
Security Measures in Breet App
Your personal information and Bitcoin must be kept safe and secure, which is why Breet App has security measures in place. Here are a few of the main security precautions Breet App has implemented to safeguard your data and assets:
- Encryption: Encryption is a method for preventing unauthorised access to sensitive data by converting plain text into an unintelligible format. All data communicated over the internet, including your personal information and trading activity, is protected by encryption using the Breet App. This implies that even if the data is intercepted, no one will be able to read it.
- Two-Factor Authentication: Your Breet App account has an additional degree of security thanks to two-factor authentication (2FA). When using 2FA, you must enter two pieces of information to log in, such as your password and an SMS one-time code. In spite of having your password, this makes it far more difficult for hackers to access your account.
- Secure Wallet: Your Bitcoin is kept in a safe wallet via the Breet App. Only you have access to the encrypted wallet. You may examine your transaction history and transfer Bitcoin in and out of the wallet as necessary. This implies that you never have to worry about your Bitcoin getting lost or stolen because it is always in your possession.
Conclusion: How To Trade Bitcoin In Nigeria Using The Breet App
In conclusion, those interested in cryptocurrency investments may find that trading Bitcoin in Nigeria via the Breet app has a number of benefits. Convenience is one of the main advantages, as the Breet app makes it simple for consumers to sell and examine their trading history in one location. The Breet app also employs two-factor authentication and encryption to guarantee the security of user cash and trading activities.
It’s crucial to remember that using the Breet app to trade Bitcoin in Nigeria comes with some difficulties. For example, there can be fluctuations in the market price of Bitcoin, which can make it difficult to determine the right time to buy or sell. Additionally, there may be uncertainty around the regulatory framework for Bitcoin trading in Nigeria, which could increase risks for investors.
Given these advantages and challenges, our final thoughts and recommendations for those interested in trading Bitcoin with the Breet app in Nigeria are as follows:
- Take time to educate yourself about the basics of Bitcoin and cryptocurrency trading
- Consider starting with a small investment and gradually increasing it as you become more confident and comfortable
- Stay up to date with regulatory changes and developments in the market
- Diversify your investments to mitigate potential risks.
Overall, the Breet app is a helpful tool for people seeking to trade Bitcoin in Nigeria, but it’s crucial to proceed with caution when making any investment decision and to carefully weigh the risks and rewards
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