Cryptocurrency trading is becoming popular as people continue to seek ways to make money online in Nigeria. With Dogecoin being one of the top crypto assets to buy and sell, you may want to know how much naira you will get for selling $100 Dogecoin in Nigeria.
It is common knowledge that this digital age has ushered in innovations, with digital transactions at the core of the applications.
As such, digital assets like cryptocurrencies, gift cards, and non-fungible tokens (NFTs) have piqued the interest of many people, especially the young population. People now use these digital assets for different transactions across the digital spectrum.
Nigeria is home to many crypto traders buying and selling different crypto assets daily via different trading platforms. This harps the potential of decentralized finance (DeFi) – which houses all cryptocurrencies as the visionary and revolutionary of the global financial outlook.
Therefore, Dogecoin is one of the top cryptocurrencies enjoying positive market sentiment as people continue to trade the coin. If you have not started trading Dogecoin, now is the time.
This article will also guide you on how much naira you will get for selling $100 Dogecoin in Nigeria.
Overview Of Dogecoin
Dogecoin is a crypto asset that started as a “joke” of cryptocurrency in 2013. Its design takes a semblance of a dog, which most people refer to as a “dog coin.”
But this meme coin has gathered a huge momentum since its foray into digital trading, as it is not only the oldest meme coin but also the most expensive meme coin.
This is due to the increasing number of people buying and selling Dogecoin, which aids its price and market cap.
At the time of writing this article, the price of Dogecoin (DOGE) is about $0.0755, with a market cap of over $10.6 billion. This makes Dogecoin the seventh-largest cryptocurrency in the market.
Given this, Dogecoin is in a better market condition despite its highs and lows and its price running bearish and bullish over the years.
Therefore, Dogecoin has shown a significant relative strength index (RSI) that positions it for a positive market sentiment run.
This alludes to the prediction that Dogecoin will hit a $1 price mark by 2023. But while this may not be possible because of its market fluctuation, people remain optimistic about the future of Dogecoin.
How Much Naira Is Selling $100 Dogecoin In Nigeria?
One major feature that undercuts almost every cryptocurrency is the volatility factor. This fluctuating power makes the prices of cryptocurrencies rise and fall.
There is no exclusion for Dogecoin in this instance – meaning that the price of DOGE changes temporally.
When writing this article, the price of Dogecoin is N57.79 – meaning that $1 DOGE sells for N57.79. In view of this, $100 Dogecoin in Nigeria is N5,778.91.
However, let’s reiterate that this value is not fixed, as the only constant parameter is the total supply of Dogecoin in the crypto market, which is slightly over 140 billion.
Meanwhile, selling your $100 Dogecoin in Nigeria requires some steps.
These are creating a Dogecoin wallet to store and send your DOGE and finally selling your Dogecoin at the best crypto trading platform Prestmit.
How To Create A Dogecoin Wallet On Prestmit In Nigeria
The following are the few steps to have a Dogecoin wallet on Prestmit:
- Download the Prestmit app on Google Play Store or Apple Store
- Create a Prestmit account and log in
- Click on “Wallet’
- Click on “DOGE Wallet”
- Copy the DOGE address or download the wallet QR code
- Your DOGE wallet is ready for use
In addition, you can check the Dogecoin rates on the page to sell your $100 Dogecoin as fast as possible.
How To Sell $100 Dogecoin For Naira In Nigeria On Prestmit
After you have created your Dogecoin wallet on Prestmit, the following are the steps to sell your DOGE quickly:
- Log into your Prestmit account
- Click on “Buy & sell cryptocurrency”
- Click on “Sell DOGE”
- You have automatically created a DOGE wallet that you can copy its address or download the QR code
- Choose “DOGE” as your preferred cryptocurrency
- Enter “100” in the USD amount box
- You will see the rate for your Dogecoin
- Click on “Sell Crypto”
- You will get a Dogecoin wallet into which you will send your DOGE
You will immediately receive your naira equivalent of the $100 Dogecoin in your Prestmit wallet. You can withdraw it into your local bank account.
Alternatively, you can leave the fund in your Prestmit wallet to buy Dogecoin or other crypto assets on Prestmit.
Also, you can choose to use the funds to buy gift cards, buy airtime, buy data, pay for your cable TV subscription, or fund your betting account.
There is an endless possibility that you can use your naira-denominated funds to do on Prestmit after selling your $100 Dogecoin on the platform.
Frequently Asked Questions (FAQs)
How Much Is $100 Dogecoin Worth In Naira?
Currently, a $100 Dogecoin sells for about N5,778 in Nigeria. But this is subject to change concerning the global Dogecoin and overall crypto markets. This is because a significant event can ripple effect on every crypto asset.
We have seen this influence of the large crypto market affecting the prices of cryptocurrencies like Dogecoin.
For instance, the recent clampdown of the Securities and Exchange Commission (SEC) on Binance and Coinbase impacted the price of Dogecoin in June 2023. It could also be recalled the Terra crash of 2022 affected the price of Dogecoin.
Therefore, major crypto market events can affect Dogecoin’s value. This is why selling your $100 Dogecoin for naira now in Nigeria is important.
What Is The Best App To Sell Dogecoin In Nigeria?
The high demand for cryptocurrencies like Dogecoin has given rise to different crypto trading apps coming to play for the teeming crypto traders.
However, the leading crypto trading app in Nigeria is Prestmit. This is owed to its best rates, sophisticated security features, and responsive customer support.
Therefore, consider using Prestmit anytime you want to sell your Dogecoin or other cryptocurrencies like Bitcoin and Litecoin.
Conclusion
The buzz around crypto trading can not be undermined, even as opinions about this practice remain ambivalent. On its right, Dogecoin is gaining huge traction with a large user base in places like Nigeria.
Therefore, you can be sure of selling your Dogecoin at the best rate when you sell on a reputable and reliable platform such as Prestmit.
However, you must stay afloat with Dogecoin news and its market trends to understand when to sell your $100 Dogecoin for naira in Nigeria.
