Convert Cryptocurrency To Cash: In this article, you will be shown how you can seamlessly convert your cryptocurrency for cash if you are in Nigeria or Ghana, but first, let’s talk about various concepts of cryptocurrency.
The Evolution Of Cryptocurrency
Cryptocurrency is a digital or virtual currency that uses cryptography for security. It is decentralised, meaning any government or institution does not control it. The first decentralized cryptocurrency, Bitcoin, was created in 2009 by an unknown individual or group of people using the pseudonym Satoshi Nakamoto.
Since then, numerous other cryptocurrencies have been created, such as Ethereum, Ripple, and Litecoin. These currencies operate on blockchain technology, a decentralized and distributed digital ledger that records transactions across a network of computers.
The use of cryptocurrency has evolved over the years, from primarily being used as a means of exchange to being used for a variety of purposes such as online shopping, remittances, and even charitable donations. In recent years, there has been an increase in the number of businesses that accept cryptocurrency as a form of payment, and some countries have even started to explore the use of a national cryptocurrency.
Convert Cryptocurrency To Cash
However, the use of cryptocurrency is not without its challenges. The lack of regulation and the anonymity of transactions have raised concerns about its use in illegal activities. Additionally, the value of cryptocurrencies can be highly volatile, leading to potential risks for investors.
Overall, the evolution of cryptocurrency has been rapid and continues to evolve as technology and societal needs advance. It has the potential to revolutionize how we conduct financial transactions and has already begun to change how we think about money and value.
Popular cryptocurrency inventions
- Bitcoin: the first decentralized cryptocurrency, was invented by Satoshi Nakamoto in 2009.
- Blockchain, the technology underlying most cryptocurrencies, allows for secure and transparent transactions.
- Ethereum, a cryptocurrency that also serves as a platform for decentralized apps (dapps).
- Litecoin, a cryptocurrency designed to be faster and cheaper to use than Bitcoin.
- Ripple, a cryptocurrency and payment protocol designed for financial institutions.
- Tether, a stablecoin pegged to the value of the US dollar.
- EOS, a cryptocurrency and blockchain platform for decentralized apps and smart contracts.
- Stellar, a cryptocurrency and blockchain platform for cross-border payments and micropayments.
- Monero, a cryptocurrency focused on privacy and anonymity.
- Dash, a cryptocurrency focused on fast and cheap transactions
How To Convert Cryptocurrency To Cash
There are various ways to convert your cryptocurrency to cash in Africa, you can use a P2P platform like Binance or a local exchange platform like Dart Africa. With Dart Africa, there is no technicality required to convert your cryptocurrency. However, Dart Africa only supports a few cryptocurrencies, unlike popular P2P platforms like Binance.
Cryptocurrencies on Dart Africa
Also read: How To Sell Bitcoin In Nigeria 2023
Why Choose Dart Africa
The platform’s exchange rate is typically the first factor users take into account when selecting a platform to sell their cryptocurrencies. When you trade your cryptocurrency on Dart Africa, you will receive the greatest market value for it because the exchange rate that is provided is intended to benefit the clients.
We at Dart Africa have also made sure that users can easily access and use the platform to sell any of their cryptocurrencies. You can sell your cryptocurrencies on our platform with ease if you are familiar with sending and receiving digital currency.
How To Convert Cryptocurrency To Cash On Dart Africa
- Go to Dart Africa’s website or download the mobile app.
- Log in to your account with your credentials or create an account if you don’t have one.
- Navigate to the sell coin interface on your account dashboard.
- Click on Sell Coins.
- Select the cryptocurrency you want to sell in the coin column.
- Enter the volume of the cryptocurrency you want to sell, and the corresponding USD, Naira and Cedi amount will be displayed in columns. Note: the minimum dollar price of the cryptocurrency you can sell is $20.
- Click on sell coins now.
- A wallet address will be provided coupled with a QR code. You can send the crypto amount you selected from the step above by manually inputting the address or by scanning the QR code. Your Dart Africa wallet will be credited immediately after confirming the crypto transaction.