PayPal is one of the world’s most widely used online payment platforms, and Nigeria is no exception. While PayPal has made it easy to receive funds from around the world, it can be challenging to withdraw or sell your PayPal balance in Nigeria. This guide will explain how to sell PayPal funds in Nigeria and convert them into cash.
Find a Reliable PayPal Exchanger
The first step in selling your PayPal funds is to find a reliable PayPal exchanger. PayPal exchanges are companies or individuals who buy and sell PayPal funds. There are many PayPal exchangers in Nigeria, but not all of them are reliable. Before choosing a PayPal exchanger, do your research and read reviews to ensure that they are legitimate and have a good reputation.
Contact the PayPal Exchanger
Once you have found a reliable PayPal exchanger, you need to contact them to initiate the sale process. Most PayPal exchangers have a website where you can place an order, but some require you to contact them directly via email, WhatsApp, or phone call. When contacting the PayPal exchanger, provide them with the following information:
- The amount of PayPal funds you want to sell
- Your PayPal email address
- Your Nigerian bank account details
The PayPal exchanger will provide you with their exchange rate, which is usually slightly lower than the official exchange rate. Be sure to compare exchange rates from different PayPal exchangers to get the best deal.
Transfer Your PayPal Funds
After agreeing on the exchange rate, the PayPal exchanger will request that you transfer your PayPal funds to their PayPal account. To do this, follow these steps:
- Log in to your PayPal account
- Click on “Send & Request”
- Enter the PayPal email address of the PayPal exchanger
- Enter the amount you want to send in US dollars
- Click “Continue”
- Review the details and click “Send Money”
Once the PayPal exchanger receives your PayPal funds, they will transfer the Nigerian naira equivalent to your bank account.
Receive Your Payment
After the PayPal exchanger has received your PayPal funds and confirmed the transfer, they will transfer the Nigerian naira equivalent to your bank account. This process usually takes a few hours to a few days, depending on the PayPal exchanger and your bank.
Verify the Payment
Once you receive the payment in your bank account, verify that the amount matches the agreed exchange rate. If there are any discrepancies, contact the PayPal exchanger immediately to resolve the issue.
PayPal funds can be used for a variety of purposes, including making online purchases, sending money to friends and family, paying bills, and receiving payments from clients or customers. In general, PayPal funds are a convenient and secure way to move money worldwide, and they are accepted by many merchants and service providers.
For individuals, PayPal funds can be used to make purchases on online marketplaces like Amazon, eBay, or Etsy, as well as for paying bills or making donations to charities. PayPal also offers a range of financial services, such as credit cards, loans, and money management tools, that can be accessed through a user’s account.
For businesses, PayPal funds can be used to accept payments from customers, pay suppliers and vendors, manage payroll, and track expenses. PayPal offers a suite of business tools and services, such as invoicing, shipping and fulfillment, and customer management, that can help businesses grow and streamline their operations. Overall, PayPal funds are a versatile and widely-used financial tool that can be used for a variety of purposes.
PayPal currently does not allow users to directly receive cryptocurrencies into their accounts. However, PayPal has announced that it will soon allow users to buy, hold, and sell cryptocurrencies on its platform. Once this feature is available, users will be able to use their PayPal account to transact with cryptocurrencies. However, it’s worth noting that PayPal’s cryptocurrency service may have certain limitations and restrictions in different regions, and users should always ensure they are complying with local laws and regulations regarding cryptocurrency transactions.
How To Exchange Cryptocurrency For Fiat on DartAfrica
You can also choose to accept your payment in cryptocurrency and convert it for fiat at a higher rate on DartAfrica. You may ask “Why DartAfrica?” OR “What is DartAfrica?”. The simple answer is more of a question, “Why Not?”. DartAfrica is a relatively new and fast-growing cryptocurrency trading site called DartAfrica wants to make it simple and convenient for users in Ghana and Nigeria (for now) to sell cryptocurrencies for fiat.
The platform also provides simple navigation, quick and secure transactions, and a user-friendly design. To efficiently use DartAfrica:
- Head over to their website to register in very few quick and easy steps.
- Next, log in to your account and click “Security” to create a transaction pin for authorizing withdrawals.
- Click on “Account Details” to set up your local bank account.
- Click on “Sell Coins”, and select the coin you wish to deposit. Enter the USD amount (min $20).
- Click “Sell Now” and a barcode (and wallet address) is provided for you to deposit the equivalent amount you wish to sell. Once the deposit is complete, you can monitor your transaction in the “Trades” section and after 2 block confirmations, the equivalent fiat is deposited in your account. This can be viewed on your “Dashboard”.
- Click “Withdraw funds” and enter the amount you wish to withdraw to the already set up account in step 3. Your local bank is credited instantly with no hidden charges.
DartAfrica wants to serve a wide spectrum of users with different tastes, which is why it offers support for well-known cryptocurrencies including USDT, USDC, ETH, and BTC, with plans to expand this catalog. The fact that DartAfrica charges no transaction fees in contrast to other exchange platforms or conventional financial institutions is just one of the numerous possible advantages of using it. So, proceeding to tell your exchanger you want to get paid in cryptocurrency (should they accept) would be a more viable option for you.
Selling PayPal funds in Nigeria can be challenging, but following these simple steps can safely and easily convert your PayPal balance into cash. Remember to always research the PayPal exchanger before making a transaction and compare exchange rates to get the best deal. With these tips, you can confidently sell your PayPal funds and enjoy the convenience of PayPal while living in Nigeria.