[Cryptocurrency In Nigeria] How You Cash Out Of Cryptocurrency Trading And Collect Your Money

Trading in cryptocurrency is now difficult and hard for Nigerians as Central Bank of Nigeria on Friday order all financial institutions to shut down the account of individuals transacting and dealing with cryptocurrency.

CBN said until they regulate crypto trading, is highly prohibited for institutions to deal in digital currency.

The new order has caused serious panic for the digital money market in Nigeria as people are no longer sure and comfortable of what will happen next to their investment.

For those thinking of how to convert their Bitcoin, Dogecoin and other digital currencies to cash, you will need some Apps that will be compatible for your phone or check online.

 

Below are some debit card Apps that you can use with cryptocurrency:

Bitstamp

This is another virtual wallet option that you can use as plastic prepaid debit card and you can fund it with bitcoin.

 

Steps By Steps On How To Go About It:

1. Tap on “Wallet” on the bottom bar.
2. Select choose a currency and select “Withdraw”.
3. Put the amount you want to withdraw and your bank account number and tap “Next”.
4. Check the information and confirm.

 

Shift Card

These Visa card  allow you connect to your Coinbase account to spend cryptocurrency online and offline.

 

CoinsBank

These crypto currency exchange offer four different cards, all of them have different features and prices. The cards automatically convert Bitcoin into several different currencies, including US dollars and Great Britain pounds.

 

Xapo

These card will let you connect your Xapo account to one card, which will let you pay in stores or online or get cash.

You can log into your Xapo account on your mobile device (Android or iPhone) using Xapo app or a web browser on your computer.

 

Steps By steps On How to Go About It:

1. Open the Xapo App.
2. Select your Country of residence.
3. Log in to your account.
4. Select the Account tab.
5. Tap Withdraw at the top of your screen.
6. Enter the BTC address. Scan a QR code.
7. Select the account you would like to send your bitcoins from. Enter the amount you want to send.
8. Review your transaction details.

 

Wirex

These will let you store your bitcoin in one digital wallet and then use the card to spend it as dollars.

You can also send funds from your Wirex account to another Wirex user or to an external bank account.

Steps By Steps On How To Go About It:

1. On the Dashboard, select the account from which you want to make a transfer.
2. On the Account panel on the  middle, click Send.

 

Cryptopay.me: This is a prepaid card with low commission fees. It comes with both plastic (physical) and a virtual version, so you can choose which one that  work best for your current needs. Also note that this card only work wit GBP, USD, and EUR.

 

Coinizy: This is a virtual Visa card you can only use with PayPal or to pay directly online. You go buy the card, and then use Bitcoins to load it.

 

SpectroCoin: This is a prepaid card that let you cash in Bitcoins on any ATM worldwide. You can also use it like a debit card. You can use the cards in USD, EUR, or GBP.

 

Bitpay: This is a Visa-brand card that let’s you load your bitcoins from your virtual wallet. You can then withdraw cash or use the card for retailer stores.

 

TenX: This is another virtual wallet that allows you to spend Bitcoin in real life, as well.

 

SatoshiTango: This card will let you buy bitcoins and then transfer them into one debit card.