Dogecoin continues to gain traction as the foremost meme coin, which many people like me have in the past years doubted its long-term utility for trade. But there is no doubt that Dogecoin has proven many people in the crypto community wrong as I’ve found myself trading the coin, as well as companies accepting DOGE as a payment method. So if you’re new to the crypto space or about foraying into trading Dogecoin, I’ve got you covered. This is because I will be showing you the easy steps to sell Dogecoin in Nigeria.
Why Sell Dogecoin In Nigeria?
Broadly speaking, crypto trading is one of the top ways to make money online in Nigeria. This is owed to the viability of the crypto market, with Dogecoin notable as one of the major crypto assets – in terms of adoption rate and market cap. Therefore, the rationale behind selling DOGE would be in the ability to make money, especially when Dogecoin is having a bullish run.
For instance, I could recall selling my DOGE for profits during the bullish crypto market in October 2024. I bought Dogecoin at about $0.1596 per coin in May 2024, and I sold it at $0.1730 by October.
Furthermore, you can sell Dogecoin, especially for cash, if you need money to offset some bills. It should be noted that many businesses in Nigeria are yet to adopt crypto payment. Hence, why you may need to convert your coin to cash to enable you to pay your bills in fiat currency, which is the Nigerian naira.
Where To Sell Dogecoin In Nigeria
1. Over-the-Counter (OTC) Platforms
You can sell your Dogecoin on an over-the-counter (OTC) trading platform in Nigeria, which Prestmit is a notable example. This platform enables you to sell your crypto for cash or a gift card – which is another digital asset.
Many features support your trade on Prestmit. These are an automated Dogecoin rate calculator, low trading fees, sophisticated security, instant payment, a sleek interface for quick navigation, and responsive customer support.
How To Sell Dogecoin On Prestmit
Here are the quick steps to sell your DOGE:
- Download the Prestmit app on the Google Play Store or Apple Store.
- Create a Prestmit account and log in.
- Click “Crypto” and choose “Sell Dogecoin.”
- Generate a unique Prestmit DOGE wallet to send your coin.
- Follow the prompts to complete your transaction.
- You will receive payment immediately upon the confirmation of the transactions.
2. Peer-to-Peer (P2P) Platforms
There is a large market for P2P trading in Nigeria as the country ranked first globally for P2P exchange trade volumes, according to Chainalysis’ 2023 Global Crypto Adoption Index. As such, there are many P2P exchange platforms in Nigeria where you can sell your Dogecoin.
You just need to sign up, look for a prospective DOGE buyer, and negotiate for the best price between the two parties.
3. Crypto Exchanges
You can also sell your DOGE on various crypto exchanges operating in Nigeria. These are platforms that require you to complete a KYC (Know Your Customer) procedure and are considerably safe to use. Here, the exchange has many payment options you can use to cash out on your Dogecoin. It is fast to sell your crypto on this platform, but it is characterized by high trading fees compared to OTC and P2P platforms.
Security Tips In Selling Dogecoin In Nigeria
1. Choose A Reliable Platform
Credibility and reliability come first when trading your crypto asset, which is what I used to look out for before adopting Prestmit as my go-to digital trading platform. Therefore, you need to conduct thorough research about your preferred platform to reinforce confidence in trading there.
It is imperative to look out for security features, ease of use, customer support, and whatnot on any platform you want to use to trade.
2. Enable Two-Factor Authentication On The Platform
The two-factor authentication (2FA) security feature helps to keep your account and even wallet from unauthorized access. So, you must enable this feature to keep your account/wallet safe always.
It should be noted that the crypto space has become a beehive of scammers deploying various crypto scams to steal from unsuspecting users. As such, enabling a 2FA on your trading platform helps to minimize your risk of any impending attack.
3. Double-Check Wallet Address
You must be extra careful when sending your Dogecoin to a wallet address given to you. This is because it is almost impossible to recover a lost fund. Therefore, it may be best to copy and paste the destination DOGE wallet address to prevent making mistakes that could cause loss of funds.
4. Keep Transaction Records
It is a good idea to keep transaction records for future purposes. There could be an event when there is a failed transaction between you and the platform or buyer. These records would suffice as evidence to save you from loss of funds or a stressful back and forth during transactions.
Frequently Asked Questions (FAQs) About Selling Dogecoin In Nigeria
What Is The Minimum Amount Of Dogecoin I Can Sell?
The minimum amount of Dogecoin you can sell depends on the trading platform that you’re using. However, you can sell any amount of Dogecoin on P2P as you are directly trading with buyers with varying needs.
What Is The Best Platform To Sell My Dogecoin In Nigeria?
Prestmit is the best place to sell your DOGE in Nigeria. The platform provides innovative tools and features to make your trade easy, safe, and profitable.
When Can I Sell My Dogecoin?
There is no better time to sell your DOGE than now. This is because the crypto market is volatile, and any swing can either make the price increase or tank. So, you may need to consider now as the best time to sell your Dogecoin in Nigeria.
Conclusion
It is easy to sell Dogecoin in Nigeria if you know the right way to initiate the trade. You can use over-the-counter (OTC) trading platforms, peer-to-peer (P2P) platforms, or crypto exchanges to sell your coin. However, it is essential to do the due diligence of ensuring that you are trading on a credible and reliable.
Thinking of where to sell your Dogecoin, consider trading on Prestmit today for your fast, safe, and profitable transactions.
