Economy
How to Invest in Bitcoin and Convert to Naira: A Comprehensive Guide
Bitcoin has become a popular investment and trading option for the youths in Nigeria. This is because the entry barrier is lower than traditional investments, and the returns also tend to be higher. This is what makes Bitcoin attractive to many investors. However, its volatility should also be taken into account; this is why understanding how to invest in Bitcoin and convert to Naira is crucial if you’re looking to follow this path.
In this guide, you’ll learn an overview of Bitcoin investment and how to make informed decisions and confident money decisions in the crypto market.
Understanding Bitcoin
Bitcoin is a decentralized digital currency whose primary attraction is its lack of a central authority. BTC’s growing acceptance and adoption are due to its transparent yet secure system that can be used on a global scale. However, it is not without its own risks, such as price volatility and regulatory uncertainties. Understanding these aspects is essential before investing in Bitcoin.
Investing in Bitcoin
To invest in Bitcoin, you’ll need to choose a reliable crypto exchange that operates in Nigeria, create a secure wallet, and decide on an investment method. There are various ways you can earn with Bitcoin; some are:
- Buying and Holding
This is one of the most popular, less risky, and passive ways to grow your Bitcoin investment. It is also a long-term investment type, so you need to be patient while waiting for your investment capital to accumulate profit.
2. Trading
Trading is more risky than investing, and to succeed, you need technical know-how. You also need to keep a close eye on your price charts, as the profitability of this investment type depends on short-term price movements in the market.
3. Mining
This is when you use specialized hardware to become a network validator and secure the network while mining new coins. Mining is on the more expensive side as its hardware and electricity costs don’t come cheap.
4. Staking
Staking is when you invest some amount of BTC, hold it in a wallet, and use it to validate transactions on the network and earn rewards. Aside from the initial investment capital, you don’t need so much as it is a more passive investment.
5. Bitcoin-Based Funds
These include exchange-traded funds (ETFs) and mutual funds. They give you the opportunity to gain from price movements without owning Bitcoin yourself. These Bitcoin-based funds are managed by professionals and are diversified to spread the risk.
Selling Bitcoin for Naira
The crypto terrain is rockier than it is in the rest of the world. However, with so much enthusiasm and resilience, Nigerian traders continue to push forward. To make it easy to sell Bitcoin for Naira, the best option to do this with is the Breet app.
Breet is a crypto-selling platform that is available in Nigeria and traders and is the best alternative to all other ways to sell Bitcoin. It is an over-the-counter (OTC) solution that processes transactions at the speed of light, is extremely secure, and offers some of the best rates in the crypto market.
Because it is dedicated to crypto-to-cash and crypto-to-crypto transactions without the option of storing crypto, it directly deposits the converted Bitcoin to local bank accounts, so that process is seamless.
Here’s how to sell your Bitcoin for Naira on Breet:
After downloading the Breet app on your Android device or iOS device, follow the prompts to sign up. Alternatively, you can just use the web app to register. After registration, it’s time to complete your KYC registration. Also select your default currency (Naira or Cedi), then input your bank account. Now, let’s sell some BTC:
- Navigate to the “Crypto-to-Cash” section and select “Bitcoin.” You’ll then see your unique wallet address, generated during sign-up. Simply copy it or scan the QR code to send your ETH.
- Breet automatically detects the incoming BTC and displays the conversion amount in NGN. Just sit back and let Breet take care of the rest.
- Once the transaction is confirmed, your NGN balance will be updated. You can then withdraw your funds directly to your bank account.
Pro-Tip: For a smoother experience next time, consider enabling “Automatic Settlement” to have your funds deposited directly into your bank account without any extra steps.
Conclusion
Investing in Bitcoin and converting it to Naira can be a rewarding venture if done correctly. By understanding the basics of Bitcoin, choosing the right investment method, and using Breet to sell for the most profitable and seamless experience, you can navigate the crypto world like a boss. Remember to stay informed, exercise caution, and only invest what you can afford to lose.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange made a 0.26 per cent rise on Friday, May 2, after the share prices of two companies on the platform pointed northwards at the close of business.
During the trading session, the NASD Unlisted Security Index (NSI) was up by 8.59 points to 3,289.66 points from the previous session’s 3,281.07 points and the market capitalisation increased by N5.03 billion to close at N1.926 trillion compared with the N1.921 trillion it ended in the preceding session.
Yesterday, FrieslandCampina Wamco Nigeria Plc gained N1.90 to close at N40.00 per share compared with the previous closing value of N38.10 per share, and Afriland Properties Plc added N1.38 to trade at N16.00 per unit, in contrast to Wednesday’s value of N14.62 per unit after the bourse closed on Thursday due to the Workers’ Day holiday.
On the flip side, Geo-Fluids Plc went down by 13 Kobo to N2.00 per share from N2.13 per share, and IPWA Plc lost 5 Kobo to end at 50 Kobo per unit versus 55 Kobo per unit.
The volume of securities traded in the session was up by 175.4 per cent to 8.5 million units from the 3.1 million units transacted in the previous trading day, the value of securities slumped by 45.7 per cent to N15.7 million from N29.0 million, and the number of deals declined by 64.4 per cent to 31 deals from 38 deals.
At the close of business, Impresit Bakolori Plc remained the most active stock by volume (year-to-date) with 533.9 million units worth N520.9 million, followed by Okitipupa Plc with 153.6 million units sold for N4.9 billion, and Industrial and General Insurance (IGI) Plc with 71.2 million units valued at N24.2 million.
Okitipupa Plc was the most active stock by value (year-to-date) with 153.6 million units worth N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 14.7 million units valued at N566.9 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
In celebration of Women’s Month, AXA Mansard Investments Limited, a leading asset management firm has expressed its commitment to continue empower women financially in the country.
The company said this at its third edition of its flagship webinar series, Achieve Much More, held virtually.
This special Women’s Day edition, themed Women’s Wealth: How to Start from Where You Are, was designed to equip Nigerian women with practical knowledge and tools for achieving financial security regardless of their life stage or income level.
The virtual session featured seasoned financial advisor and Chief Executive Officer of MoneyStart, Mrs Ibi Ibru, as the guest speaker.
A respected content creator and influencer in the personal finance space, shared actionable strategies for saving, diversifying income, and getting started with investing—even with minimal capital.
Throughout the session, participants learned how to plan and adjust their finances across different life phases – singlehood, relationships, marriage, and parenting.
The session demystified a range of investment vehicles, from traditional savings to beginner-friendly options in the Nigerian financial landscape, helping women identify how to take control of their journeys towards financial freedom.
Speaking about the initiative, Mrs Adebola Surakat, Chief Marketing Officer of AXA Mansard Investments, emphasized the company’s dedication to fostering a financially literate population.
She stated that, “At AXA Mansard Investments, we strongly believe that financial education is not a luxury, it’s a necessity. Empowering women with financial knowledge not only transforms individual lives, but strengthens families, communities, and the broader economy.
“This webinar reflects our ongoing commitment to ensuring all Nigerians—regardless of gender, income, or background, have access to the tools they need to make informed financial decisions.”
The ‘Achieve Much More’ webinar series is part of AXA Mansard Investments’ broader efforts to provide accessible financial education through interactive sessions, expert-led discussions, and simplified investment tools tailored to everyday Nigerians.
“As 2025 progresses, AXA Mansard Investments remains dedicated to its mission of advancing financial literacy and supporting Nigerians on their journey to financial independence. By placing even greater emphasis on educating the public about smart money habits, we aim to empower more Nigerians to take charge of their financial future,” concluded Mrs Surakat.
For more information on financial literacy resources or to sign up for an upcoming webinar, please visit www.axamansard.com/investments or contact us via email clientservices@axamansard.com or call 0700AXAMANSARD (07002926267273).
By Adedapo Adesanya
The Naira fell to N1,602.69/$1 in the American currency in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, May 2.
Data showed that the Nigerian currency weakened against the US Dollar during the session by 0.02 per cent or N3.20 after it traded at N1,599.49/$1 in the previous trading session, which was on Wednesday, as the market closed on Thursday for Workers’ Day.
In the same vein, the domestic currency depreciated against the Pound Sterling in the same market segment by N3.64 to trade at N2,133.30/£1 compared with Wednesday’s value of N2,129.66/£1 and lost N5.92 on the Euro to sell for N1,820.24/€1, in contrast to the previous trading day’s N1,814.32/€1.
However, in the parallel market, the Nigerian currency appreciated against the greenback yesterday by N5 to quote at N1,605/$1 versus the preceding session’s N1,610/$1.
In the cryptocurrency market, news that the US and China are working on a trade deal swayed investors as it appears that the market is also skeptical that a deal will be reached this month.
According to a China state media post on social media, the US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.
The speed and intensity of the tariffs the White House announced earlier this year panicked the market, leading to a significant drop in assets including cryptocurrencies.
So far, it is not clear what the eventual outcome will be but Litecoin (LTC) went down by 1.4 per cent to $86.81, Cardano (ADA) slumped by 0.7 per cent to $0.6981, Solana (SOL) declined by 0.5 per cent to $147.91, Dogecoin (DOGE) slid by 0.4 per cent to $0.1778, and Bitcoin (BTC) shed 0.1 per cent to sell at $96,336.57.
But Ethereum (ETH) rose by 0.6 per cent to $1,826.96, Ripple (XRP) grew by 0.4 per cent to $2.20, and Binance Coin (BNB) expanded by 0.3 per cent to $597.94, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded at $1.00 each.
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