How to Receive and Sell Cryptocurrency for Naira on Yellow Card (2024)

Since the creation of cryptocurrencies over a decade ago, crypto adoption has rapidly spread across Africa. Nigeria has fast grown into a crypto hub in Africa. Just recently, Lagos and Ibadan were listed among the biggest crypto hub in the world. With inflation, Nigerians have come to save in stablecoins and also hodl and invest their funds in other cryptocurrencies like Bitcoin, Ethereum, Solana and more.

However, while Nigerians have embraced cryptocurrencies, certain limitations prevent them from easily buying, selling, receiving or sending the crypto of their choice. For instance, not all crypto exchanges allow you to buy or sell crypto for naira; some have exorbitant fees or commissions attached. Additionally, time is of the essence and finding a crypto exchange that can process transactions instantly and securely can be a real hassle. However, only a few crypto exchanges offer competitive rates to let you sell cryptocurrency and withdraw Naira.

In this article, we outline how you can easily receive crypto and sell it for naira at the best rate in Nigeria. However, the first step is to find a trusted crypto exchange to receive your crypto before you can sell crypto and withdraw for naira. Nigerians have discovered a secure and reliable way to receive and sell cryptocurrency for naira on the Pan-African crypto exchange, Yellow Card.

Why Yellow Card Is The Best Place To Receive and Sell Crypto For naira

Pan-African Crypto exchange Yellow Card with a presence in 15+ countries across Africa, is a popular exchange where Nigerians have come to receive and sell their crypto for naira because of its competitive rates. Here’s why Yellow Card is the best place to receive and sell cryptocurrency for naira in Nigeria:
1. Sell crypto and withdraw naira: Yellow Card allows you to easily buy your favourite cryptocurrencies with naira and sell and withdraw directly to your bank account.

2. Zero trading fees: Yellow Card allows you to buy or sell crypto at the best rate and with zero fees.

3. Buy crypto without verification: You can start trading instantly on Yellow Card when you sign on to the platform. This means you can easily share your details and then receive crypto that you can either trade or sell for naira. You can verify your details later by completing your KYC to enjoy higher trading limits and more exciting features on Yellow Card.

4. Security: Yellow Card uses state-of-the-art security features and mechanisms to ensure the security of your funds. In fact, on Yellow Card, you can use Two-factor authentication as an additional layer of protection.

5. Easy to use: Yellow Card’s app is easy for crypto beginners and experts, allowing you to complete your transactions seamlessly from home.

Read Also: How We Ensure Security On Yellow Card

How To Easily Receive Crypto On Yellow Card

Yellow Card allows you to receive your crypto in your wallet at no cost easily. Here’s how to receive crypto in your wallet.

1. Sign up on Yellow Card for Free
2. On the dashboard, click on “Crypto.”
3. Select the crypto you wish to receive from the list of cryptocurrencies displayed.
4. On the dashboard, click on receive
5. A QR code with your wallet address will be displayed. You can share the QR code for the sender to scan or click on “Copy” to copy the wallet address you can share with the sender.
6. Once the sender completes the transaction, you will see your crypto reflect in your wallet instantly.

The funds in the wallet are yours alone, and you can choose to sell, hodl or trade your crypto.

How to sell cryptocurrency and withdraw naira on Yellow Card

Using Yellow Card in Nigeria simplifies selling cryptocurrency and withdrawing naira to your bank account. Here’s how to easily sell your crypto and withdraw naira to your bank account.

1. Log in to your Yellow Card account.
2. Click on “Wallet” and select the coin you wish to sell. The coins you own will be listed in your wallet.
3. Click on the sell button and indicate the amount of crypto you wish to sell
4. Confirm the transaction with your pin. The naira equivalent of the crypto you sold will instantly reflect in your naira wallet.
5. Click on Wallet on your dashboard and select “Nigerian Naira.”
6. Click on the Withdraw button displayed.
7. Click on "instant transfer" and indicate the amount you wish to withdraw.
8. Click on find a match and confirm the transaction. ‘
9. That’s all! The amount withdrawn will reflect in your bank account once the transaction is confirmed.

Yellow Card has made receiving and selling your favourite cryptocurrencies for naira on its platform easier. You can also easily buy or send crypto on the platform at no extra cost.

Conclusion

Over the last few years, Nigerians have come to rely on Yellow Card for their crypto-related needs. Therefore, if you are looking for where to receive and sell crypto at the best rate, with no fees, securely and instantly, Yellow Card is your best bet.

You can also learn more about cryptocurrencies, blockchain and other financial literacy topics on Yellow Card’s free, easy-to-understand guide, Yellow Card Academy.

Sell your crypto now at the best rates on Yellow Card.