Do you have issues converting your bitcoin to Naira or you are looking for a cheap and efficient method to transfer money back home in Nigeria? Keep reading to discover how to convert bitcoin to Naira using Cryptofully.
Cryptofully is a peer-to-peer digital payment platform that allows people to send and receive money to any Nigerian bank.
You can cash out your bitcoin, send and receive bitcoin payments within minutes from anywhere in the world into any Nigerian bank account. You can also use the app to pay utility bills, buy internet data, and recharge your phone.
Cryptofully uses a local peer-to-peer network that enables it to convert cryptocurrency and dollar transfers into Naira (NGN) and settle directly in the recipients’ Nigerian bank accounts.
However, the process is abstracted from users allowing them to have a smooth experience. All you have to do is sign up, complete the KYC, add a bank account and start using the platform to transact.
In addition to bitcoin, Cryptofully also supports Dash, US dollars, and payment options including Visa, Mastercard, Google Pay, and Apple Pay.
How to Convert Bitcoin to Naira Using Cryptofully
If you already own bitcoin, Cryptofully makes it easy to cash out your bitcoin to your Nigerian bank account using either the app or the web-based platform.
Using the Cryptofully App
Step 1: Setting up your account
2. Set up your account with your email address, username, password, and security code.
3. You also need to verify your email address.
4. Click on ‘Add Bank’ to complete the KYC with your BVN and add a bank account.
Step 2: Convert your bitcoin to naira
1. Input the amount you want to send and your account details and click ‘Send’.
2. Choose to send via bitcoin.
3. Copy the wallet address and send the bitcoin equivalent displayed.
4. The peer you’re matched to sends the money and you would get the money in your Naira bank account.
Using the Cryptofully Website
The website doesn’t require you to login with any details, which makes it seamless.
Step 1: Add the amount of bitcoin you want to convert.
1. Go to https://www.cryptofully.com
2. Input the amount of BTC you want to convert to NGN using either the ‘Floating Rate’ or ‘Fixed Rate’.
- Floating Rate: The floating rate will depend on current market conditions.
- Fixed-Rate: The exchange rate is fixed regardless of market volatility. It is updated every 30 seconds.
3. The amount you’ll receive in your bank account will display immediately.
4. Click on ‘Send Now’.
5. You’ll also see the wallet address to send bitcoin you want to cash out.
6. Transfer bitcoin to the bitcoin wallet address and the system will match you instantly with a peer.
7. The peer you’re matched with sends the money and you receive the funds in your naira bank account.
How to Send Money to Friends and Family Back Home
Cryptofully also makes it easy to send a money transfer from outside Nigeria directly to a Nigerian bank account within minutes.
It works whether you already have bitcoin to send or you need to purchase bitcoin on Cryptofully first — using Visa, Mastercard, Apple Pay, or Google Pay — to complete the transfer.
Using the Mobile App to Send Money
Step 1: Specify the amount and the recipient
- Log into your Cryptofully account on the app.
- Choose your currency and input the amount you want to send.
- Click on ‘Send’.
- Choose bitcoin as the preferred option.
Step 2: Fill out the transfer details
- Fill in the recipient’s details and click on ‘Send Now’.
- You’ll be provided with a bitcoin wallet address to send the BTC equivalent.
- Once you send it to the wallet, within a few minutes, the money is delivered to your friend or family member’s bank account in Nigeria.
Using the Web App to Send Money
Step 1: Specify the amount you want to remit
- Input the amount of bitcoin you want to convert to Naira using either the ‘Floating Rate’ or ‘Fixed Rate’.
- Click on ‘Send Now’.
Step 2: Fill out the transfer details
- Fill in the recipient details.
- You’ll be provided with a bitcoin wallet address to send the amount in bitcoin.
- If you don’t have bitcoin, you can buy it right there on Cryptofully with Visa, Mastercard, Apple Pay, or Google Pay.
- Once you send it to the wallet, within a few minutes, the money is delivered to your friend or family member’s bank account.
How to Receive Payments on Cryptofully
Receiving payments is just as easy as sending payments. The process is so simple, it only takes a few clicks in the Cryptofully app.
1. Log in to the Cryptofully App
2. Type the amount you want to receive and choose bitcoin.
3. Copy the bitcoin wallet address and send it to your client or customer.
4. Once the person sends the bitcoin equivalent, you would get the cash in your bank account.
How to Earn Cryptofully Rewards
In the Cryptofully app, you receive points for transacting. Each point you earn is equivalent to one naira.
- You receive 10 points at the end of a successful transaction, which includes sending and receiving money.
- As a new user, you get 1,000 points after completing your first transaction.
- When you refer someone and they complete a $50 transaction as their first transaction, both you and the person referred to get an additional 1,000 points each.
- And there are more ways to earn more points, which means more potential earnings for users.
Benefits of Using Cryptofully
The Cryptofully app enables anyone in Nigeria to seamlessly convert bitcoin to naira within minutes. What’s more, it allows Diaspora Nigerians to remit money back home to friends and family. Additionally, you can pay bills and top-up your mobile minutes directly within the app.
Further benefits include:
- A seamless onboarding process. It takes under one minute to set up an account.
- The user interface is simple to understand and navigate.
- Ability to send money from anywhere in the world to a Nigerian bank account.
- Cryptofully supports all Nigerian banks.
- Multiple payment options including Visa, Mastercard, Google Pay, and Apple Pay.
- Get paid from anywhere in the world directly to your Nigerian bank account.
Cryptofully provides multiple payment methods, favourable exchange rates, and transaction settlement within minutes, making it easy to cash out your bitcoin as well as send and receive payments from around the world.