You're probably here because you want to invest in crypto, or you heard that if you earn NGN in Nigeria, you should convert some of your funds to USDT and start saving in dollars...
Well, this article is just for you.
Here, I'll dwell mostly on the "How's" and "Where's," but first, let's start with a very brief history lesson…
What is USDT?
USDT (otherwise known as Tether), is a cryptocurrency founded in 2014 by a Hong Kong-based company, (Tether Limited) and built on the Bitcoin blockchain.
The company designed the Tether currency to mimic the fiat currency (US dollar) in value. This is to say that each currency is in a 1:1 ratio with conventional currencies held in deposit by Tether Limited.
HOW AND WHERE TO BUY/SELL USDT IN NIGERIA
USDT is now widely accepted in the cryptocurrency world and in Nigeria, users store Tether as a means to stay afloat in the midst of the current economic crisis.
The reason for this is just as I've explained above; the conversion rate from USDT to US dollars (USD) is one USDT to one USD. So, buying Tether can help protect the value of your NGN against future devaluation.
The currency is found on almost every cryptocurrency exchange platform in Nigeria such as Shift and, they are easy to obtain.
About SHIFT.market
SHIFT.market is a P2P (Peer-to-Peer) Cryptocurrency exchange in Nigeria that gives users direct access to buy and sell cryptocurrencies.
The platform is equipped with the required safety standards in place which allows buyers and sellers in Nigeria to come together in order to trade without issues.
If you're looking to get started in your USDT journey in Nigeria, SHIFT is the platform you need.
Below is the step-by-step process:
● Create a new Shift account at https://shift.market/
● Verify your email address
● Select your preferred security medium
● Submit your KYC and wait for verification to initiate trade
● Go to Account Settings > Payment Options >Add your bank Account or UPI
● Buy - Use the “Buy” form to buy USDT from NGN
● Sell- Use the “Sell” form to sell USDT for NGN
● Buy or sell directly from open/available orders.
● Click on any open orders to buy or sell at that price and quantity.
● If you are a buyer, when a "sell" order is matched to your "buy" order, you have 10 mins to select your payment method first and accept that you will pay for it.
● Then the time will now be extended to 60 more minutes. At that time, you must make payment.
● Check the seller details and transfer the amount to the seller's bank account
● After transferring the payment, confirm here by clicking “I have paid” and follow up by clicking “Yes, I paid”.
● Wait until the seller confirms that he/she received the payment.
● Buy order will be completed as soon as seller confirmed that he/she received the payment
● If you are a seller. When a sell order is placed, the matching will be started
● When the buyers are matched, you will need to wait till the buyer accept the order (10 mins)
● When the buyer accept the order, he/she will have 60 minutes to make payment.
● When the buyer makes payment, you need to check if you got the payment or not and click the button within 8 hours (click only if you received the payment)
● The sell order will be completed.
Well, this article is just for you.
Here, I'll dwell mostly on the "How's" and "Where's," but first, let's start with a very brief history lesson…
What is USDT?
USDT (otherwise known as Tether), is a cryptocurrency founded in 2014 by a Hong Kong-based company, (Tether Limited) and built on the Bitcoin blockchain.
The company designed the Tether currency to mimic the fiat currency (US dollar) in value. This is to say that each currency is in a 1:1 ratio with conventional currencies held in deposit by Tether Limited.
HOW AND WHERE TO BUY/SELL USDT IN NIGERIA
USDT is now widely accepted in the cryptocurrency world and in Nigeria, users store Tether as a means to stay afloat in the midst of the current economic crisis.
The reason for this is just as I've explained above; the conversion rate from USDT to US dollars (USD) is one USDT to one USD. So, buying Tether can help protect the value of your NGN against future devaluation.
The currency is found on almost every cryptocurrency exchange platform in Nigeria such as Shift and, they are easy to obtain.
About SHIFT.market
SHIFT.market is a P2P (Peer-to-Peer) Cryptocurrency exchange in Nigeria that gives users direct access to buy and sell cryptocurrencies.
The platform is equipped with the required safety standards in place which allows buyers and sellers in Nigeria to come together in order to trade without issues.
If you're looking to get started in your USDT journey in Nigeria, SHIFT is the platform you need.
Below is the step-by-step process:
● Create a new Shift account at https://shift.market/
● Verify your email address
● Select your preferred security medium
● Submit your KYC and wait for verification to initiate trade
● Go to Account Settings > Payment Options >Add your bank Account or UPI
● Buy - Use the “Buy” form to buy USDT from NGN
● Sell- Use the “Sell” form to sell USDT for NGN
● Buy or sell directly from open/available orders.
● Click on any open orders to buy or sell at that price and quantity.
● If you are a buyer, when a "sell" order is matched to your "buy" order, you have 10 mins to select your payment method first and accept that you will pay for it.
● Then the time will now be extended to 60 more minutes. At that time, you must make payment.
● Check the seller details and transfer the amount to the seller's bank account
● After transferring the payment, confirm here by clicking “I have paid” and follow up by clicking “Yes, I paid”.
● Wait until the seller confirms that he/she received the payment.
● Buy order will be completed as soon as seller confirmed that he/she received the payment
● If you are a seller. When a sell order is placed, the matching will be started
● When the buyers are matched, you will need to wait till the buyer accept the order (10 mins)
● When the buyer accept the order, he/she will have 60 minutes to make payment.
● When the buyer makes payment, you need to check if you got the payment or not and click the button within 8 hours (click only if you received the payment)
● The sell order will be completed.
