Apps Converting Bitcoin to Naira.

[Yablee0]

Before you use anyone make sure you.

Ask questions about it and this is one of the reasons why I created this thread you can ask of anyone you wish or plan to use here and someone that has used it will answer you so you don’t fall victim.

I don't need to border going through the stress of asking anybody about it when I know it's actually of no use to me so while bordered. However for some times now I have being making use of bybit  and I have been doing pretty well with it even though their are also scammers there,  but it's more safe than using any online app you see in the social media.  Furthermore, in the rate in which fake and fraudulent activities is going on this days one can barely trust things that are being displayed online especially when it involves money unless you just want to risk it which offcourse you will definitely learn the hard way.

[Fiatless]

I am in total support of what Adbitco said. Apps that convert Bitcoin or crypto to Naira are not licensed or recognized by the Nigerian government, except that they are regulated exchanges, which the government knows fully well. These apps are black market readers and underground P2P vendors. Because they are not licensed, it makes it unsafe for users. It has a high risk and is full of scams. Using it is at your own risk. There is no assurance that the customer support will attend to complain to when things go wrong.

Most of the reputable exchanges, such as Bybit, Remittano, and Bidget, are not registered or licensed by the Securities and Exchange Commission (SEC). Which means they are not regulated and you might not seek redress in court if you have a problem with them.

However, just as other users have highlighted, using such an app is risky. With the use of artificial intelligence, any kind of app can be developed with fewer resources and time. So I would prefer to use reputable unlicensed exchanges rather than an unknown service provider. I might consider using such an app if the company is duly registered.

[Ashawowo(OS)]

I wouldn't even encourage anyone to use any app that they see on social Media or any other platforms to send their Bitcoin because they want to convert their Bitcoin. Then what now happened to Bybit, bitget and other exchange that keeps offering p2p services to us?
If you have fallen victim of any app that converts BTC to NGN then it will be that better to share here so that others could learn from here to know whenever they comes across such apps.

I think I'm comfortable with using exchanges. I use CEX for now since the low trading volume of DEXs are very annoying. I don't think these apps are very important actually and I would advise anyone not to patronize them because there are chances they are scam. We have reputable exchanges and you can stick to them as long as they are serving you properly. Don't use because of tempting offers from these apps, especially those advertised via Facebook and google ads to put your funds at risk. I know most of them would advertise higher rates to attract deposits, but you need to ensure those apps are legitimate, verify all their licenses and ensure they are registered with appropriate Nigerian regulation bodies and lastly download their apps from official sites if at all you want to use them.

[JoyceBTC]

Honestly to use this apps wey OP u Dey talk about no Dey advisable, because e involve high risk and I believe most of the apps Dey owned by scammers, so anything go fit happen.
You fit put your money and e loss, cos most of this scammers wan use this apps pack people money, so from the first period you start to use them, dem fit Dey deliver just for you to gain trust and believe say them Dey reliable and trustworthy but before you know it dem fit dupe people of their money at anytime when them don gather the number of people dem need. So e Dey advisable to Dey careful of this apps and continue with trusted exchanges wey we Dey aware of and trust to avoid regret.

[Wiwo]

Most of those apps can be fraudulent in particular, although we have some reputable one but as long as there are nit licensed, there is no way you should trust them, I remember the last sad experience I hard with one like that, I deposited around $80 and they held my money for almost two weeks at a point I have to threated them that I will call them out on social media that was when I hard my fund processed.

For bitcoin exchange in Nigeria, is beat you use centralized exchange and not some cryptocurrency apps online claiming to provide p2p services.

[sokani]

Which one be app wey dey convert your Bitcoin again? I guess you want talk say app wey person fit sell Bitcoin. Just as wetin di first poster talk. E no dey advisable to use such app. Aside di outrageous or hidden fees wey dem dey charge, dem fit scam you. E better to just stick with P2P trade on reputable exchanges to avoid casala.

[Dr.Bitcoin_Strange]

I used one of those apps 2 years ago and what I discover is that their rate is very low compared to the actual rate you will get if you are selling your coins via p2p orders, so I just used it for a temporary period of time before I stopped because I was not satisfied with rate and their service, I have not tried other ones because I already have the better option on CEX. Some of those apps advertised on social media are not so reputable, so I don't trust them all.

[Rubuchi]

Most of the reputable exchanges, such as Bybit, Remittano, and Bidget, are not registered or licensed by the Securities and Exchange Commission (SEC). Which means they are not regulated and you might not seek redress in court if you have a problem with them.

However, just as other users have highlighted, using such an app is risky. With the use of artificial intelligence, any kind of app can be developed with fewer resources and time. So I would prefer to use reputable unlicensed exchanges rather than an unknown service provider. I might consider using such an app if the company is duly registered.

eveybody who is in the industry will not give a damn about the regulated apps and would prefer the unregulated ones which are highly reputable and have integrity over along periods  rather than regulated who could be unreliable. I know the nature the country where I am already and I know they do not really have any stringent punishment to scammers in a very real sense because if they should scam you now, you will still need to go and hire a lawyer who will stand in your case. That only is a resources spending on its own so I’m imagining in a country like Naija where nearly every rich person they get access to any government office and you poor man get limitations, you fit just come hear now say the same person wey scam you them don release am and him don continue with him life whereas justice have not been served.

[Smartvirus]

I really thought you would mention some of those apps you’re making references about and maybe give a detailed expert usage. It wouldn’t really be a form of advertising but, would give forum users a direct example of where yo look and what they would hope to find should they make certain choices about these apps.

And if I got you correctly, these apps have a naira wallet of their own that doesn’t require to pair you with any user through P2P to be credited on your account the value you would be exchanging in Bitcoin… is that it?

If that be the case, I’m often against this method of cryptocurrency exchange for fiat. It’s one way accounts got tracked and restricted when the CBN were looking up accounts used in cryptocurrency activities. P2P is safe and advised.

[Tonimez]

We have a lot of apps in Nigeria right now that are converting bitcoin to naira instantly and they will credit you to your bank account directly if you want.
I believe a lot of you most have seen some of those apps advertising on Facebook and other social media platforms.
They are okay and I have tried some but they usually have hidden charges that they won’t inform you of at the beginning and again lastly is not all you should use because they are not reliable and trustworthy.

Before you use anyone make sure you.

Ask questions about it and this is one of the reasons why I created this thread you can ask of anyone you wish or plan to use here and someone that has used it will answer you so you don’t fall victim.

I can't trust any of such online app or whatsoever to trade my bitcoin directly to Naira at this point in time when many scammers are on the increase daily. I can only trust a global app that has been tested too. Again most of these apps have serious underlying charges that won't be contained fully in their terms and conditions or may be presented in a confusing manner. With exchanges you can always get a seamless transaction and conversions instead of moving bitcoins across apps which will invite more charges.

source

Some of them has a flat fee of at least $2 which does not favour low traders or beginners too. Again most of them takes a very long transaction time of up to 5 to 30 minutes or more. Personally I won't support anyone to use such app due to high chances of scams you can experience there.

[Mhizlove]

True because alot of those apps can look fast and smooth at first, but poor rates and delayed transactions is what alot of users do notice later on. And another important thing is that people are suppose to start with little amount of money before trusting any platform with huge amount and recommendations and reviews from real users do help alot, but you still need to be careful because some platforms can change anytime or with time. When it comes to crypto, security and trust is suppose to come before convenience.

[yixichloro2xx]

I rather just stick to my Gate io and bybit. We have a lot of Exchange apps in Nigeria now, and knowing the good one is very hard. Some of those apps are created by fraudsters because it's easy to build an app if you are good with programming.Zo when someone sends their crypto into that app, they won't be able to sell or sometimes they will be given poor rates. Or sometimes the app might suddenly crash overnight , that means your funds is gone and there's nobody to contact. Even if you want to use those small exchange app, you read their customers reviews and ratings and also they must have good customer service Incase something goes wrong with your transaction.

[Cossyblack]

I will advise anyone that wants to use all those converting app to abort that thought because they will end up messing themselves up, a friend of mine told me about a particular one that he used and they did not send him his money till date they actually scammed him and so I will advise people not to use them we already have where we can do P2P and they are very reliable for example bybit, bitget or MEXC.
This exchange I listed are the ones I use and they are very reliable and trustworthy although there are some traders in this exchanges that will want to scam you but if you are smart they won't succeed.
Just avoid all this apps to avoid had I know.

Random apps on social media platforms can't be trusted because most of it might been operating to defraud People. Trusting any these converting apps should be based on recommendation from a trusted friend and again we should conduct thorough investigation before using any of these apps by going through their reviews as it helps to verify the authenticity of the app. I believe that while majority of this app may be fake, they are also the legit ones we can trust to convert our bitcoin to naira. There is this app who a friend of mine recommended for me,and I have been using it to convert my bitcoin to naira and it hasn't been giving me issues till date.

[Grace333]

Before you use anyone make sure you.

Ask questions about it and this is one of the reasons why I created this thread you can ask of anyone you wish or plan to use here and someone that has used it will answer you so you don’t fall victim.

I don't need to border going through the stress of asking anybody about it when I know it's actually of no use to me so while bordered. However for some times now I have being making use of bybit  and I have been doing pretty well with it even though their are also scammers there,  but it's more safe than using any online app you see in the social media.  Furthermore, in the rate in which fake and fraudulent activities is going on this days one can barely trust things that are being displayed online especially when it involves money unless you just want to risk it which offcourse you will definitely learn the hard way.

Personally I don't see the need change so many exchanges when I know I'm satisfied with the one I'm making use of. Though sometimes it's is worth trying as a new exchange could provide a more better experience but I wouldn't go around trying different exchange because I value my KYC data as well as I like satisfaction. Another reason why I dont like trying new exchange is to make sure I don't fall for a phishing scam. Scammers are becoming more creative and willing to spend enough to get what they want.

[CryptSafe]

Maybe you should share your experience with the community so we could learn from it and know better the apps you are talking about because that would help us the community to be very alert and cautious.
Many newbies here wouldn't know that such apps are likely scam apps because they would think it is an express way to convert their BTC and they would opt for it thinking they are dealing with genuine BTC conversion App bit however, it is nice you have said something about it soon that everyone who has come in contact with this thread would be knowledgeable about it and take caution.

[Big Dirams]

Personally I don't see the need change so many exchanges when I know I'm satisfied with the one I'm making use of. Though sometimes it's is worth trying as a new exchange could provide a more better experience but I wouldn't go around trying different exchange because I value my KYC data as well as I like satisfaction. Another reason why I dont like trying new exchange is to make sure I don't fall for a phishing scam. Scammers are becoming more creative and willing to spend enough to get what they want.

Right that a solid point and I do agree with you on this. What is the essence of trying out new exchange or switching to new exchange when we have total satisfaction of our recent exchange, don’t really see the need for trying out other exchanges.  Well it true that some exchanges might offer more features and quality services which might be more beneficial than our recent exchanges, but are they willing to stay for long and are they worth to be relied on?   
That the question we should ask ourselves and consider our own safety and security of our solid informations and our holdings too. But when recommended by someone we trust and believe then we could try them out but make sure we make thorough research for for total safety. However, going around and looking for exchanges with much features and other accessibilities isn’t a smart idea. 

[Samlucky O]

I wouldn't even encourage anyone to use any app that they see on social Media or any other platforms to send their Bitcoin because they want to convert their Bitcoin. Then what now happened to Bybit, bitget and other exchange that keeps offering p2p services to us?
If you have fallen victim of any app that converts BTC to NGN then it will be that better to share here so that others could learn from here to know whenever they comes across such apps.

I agree with you on this, it is better we use the crypto exchange apps that we are sure or familiar with than using some random app we are not even sure of. Although it Might be geniue and working very well. But there is no prove that it will last for long. Any crypto CEX exchange must have multiple options, one is that the centralized authority will function as a mediator Incase of any fraud attempt they can detect and freeze such persons account since it's under their control. Secondly it needs to be multipopose account which can serve many function aside from the exchange of only Bitcoin.