Pro, semi-newbie, or a newbie, regardless of your category, brace yourself as the best USDT trading experience is about to be unveiled to you. Aside from Bitcoin and Ethereum being some of the very known cryptocurrencies, USDT is also one of the most mentioned and used coins on the decentralized blockchain.
In the crypto community, people are mostly attracted to cryptos with high-level liquidity; the ease to buy or sell a coin. Liquidity is mostly spurred by traders’ trust; nobody wants to buy a coin when they’re unsure whether or not they can be able to sell or make gains from it.
And because USDT is a stablecoin whose value is pegged to the dollar, it seldom experiences a high volatility level. Hence, it enjoys a relatively better acceptance compared to other cryptocurrencies with which it was introduced to the crypto market at the same time.
Narrowing it down to naira, the question goes thus; how can I buy USDT with, or sell for Naira? This is pretty simple.
Buying And Selling 50 USDT For Naira; What To Consider
While an average crypto trader can assume that buying and selling USDT is basic knowledge, it is still pretty novel to a lot of people. So this article gives insight into how to buy and sell 50 USDT for Naira; and if understood, creates a clear picture on trading other cryptos.
Understandably, trading crypto is banned in Nigeria, so If you’re worried about getting your local bank account facing a penalty upon being found to have traces of crypto dealings, then be sure there are better ways out.
How to buy 50 USDT with naira
To buy 50 USDT with naira, you have two options; buy from a local crypto vendor from P2P on a trading platform.
With the first option, all there is to do is, send an agreed sum to a vendor’s local bank account, then they send the equivalent USDT to your USDT wallet address. However, this method is not very secure as it puts you at high scam susceptibility. Except for a vendor with a good business reputation, which can be difficult to find in Nigeria.
The second option means buying 50 USDT from a trading facility via P2P. Binance is a good one. To begin, sign up and access the P2P section, then initiate a transaction. Here, there are many people to buy from, each with their custom terms. This now affords you the luxury of enjoying different payment options and a few other transaction preferences.
P2P’s security stems from the measures in place to curb many trading ills; an example is the escrow service that functions as a scam-eradicating mechanism. Upon initiating a transaction, the buyer doesn’t directly send the USDT to your wallet, instead, he sends it to an escrow made available by the trading platform. The USDT only gets across to your wallet upon the seller’s confirmation of your payment.
How to sell 50 USDT for naira
Selling 50 USDT for Naira also means leveraging one of the two available options; selling to a local crypto vendor, or selling on a trading facility via P2P.
Leveraging the first option means sending 50 USDT to a vendor’s crypto wallet and receiving payment in naira via a local bank account thereafter. With the second option, two platform types work just fine.
One is through automated crypto conversion facilities whose sole purpose is for converting crypto to cash; Dart Africa is one such facility. It’s made for Nigerian and Ghanaian crypto traders to help have their cryptos in fiat form sitting confidently in their local bank account. Surprisingly, it has had thousands of sign ups in a very short while. Many reviews paint it in a good light.
The second is via P2P on trading facilities. This is done by initiating a trade on a trading platform’s P2P section and striking a deal with a buyer. Here, you send the agreed amount of USDT to an escrow on the platform, the buyer then sends the equivalent sum to your local Nigerian bank account, and only upon your confirmation of their payment is the USDT released to their wallet. It’s this simple.
To buy or sell USDT for naira is possible via different trading strategies and trading options. It all depends on your evaluation of the available options, analyzing how best they would serve you, then making a choice based on that credible evaluation to give you a strong dose of reality.