How to Convert USDT to Naira (2024 Crypto Guide)

Ever since Binance, the biggest crypto exchange in the world delisted Naira, and with the various rules put in place by the federal government of Nigeria against direct trade of crypto assets to naira, there’s been a growing need for information on how to convert USDT and other crypto to naira. Crypto traders as well as, newbies in the cryptocurrency world have encountered more serious issues when it comes to swiftly swapping or withdrawing their crypto to naira bank accounts.

So for that reason, I made it a point of duty to not only curate the list of apps that can be used to convert USDT and other crypto assets to naira easily but also, to discuss personal steps i.e. the simple steps one can take to convert his or her crypto to naira without having to use p2p or selling to a third party vendor. If you have questions ranging from, how to convert USDT to naira, best apps to convert USDT to naira and so on and so forth, this article will serve as an eye opener.

Best Apps to Convert USDT to Naira

Are there applications that can be used to convert your USDT to naira? The answer is yes. The only problem is that, some of the steps need further breakdown to avoid making mistakes.

1. Cash-in Application;

This mobile app provides one of the easiest ways to convert USDT and some other crypto assets to naira. The good thing about the app is, it doesn’t take any special steps, you don’t need to compulsorily complete any KYC requirement, or have a special profile.

All that’s required of you is to send the crypto asset to the address provided to you by cash-in, add your bank account details and voila, the naira equivalent will be sent to you. In order to provide you with more details, we will delve deeper into the intricacies of using cash-in app for crypto withdrawal;

Cash-in supported Crypto Assets

• Bitcoin (BTC)
• USDT (Trc20, Bep20)
• USDC (Trc20 and Bep20)
• BUSD(deprecated, no longer supported)

How to Get Started

To get started, simply download Cash-in application from either Play store or Apple store and create an account using this referral code – 7303e2784f6d

Verify your email address and login to your account, then you will be shown the various crypto assets they support. Proceed to account section to add your payout account details i.e. link your bank account. It is this bank account that, all your withdrawals to Cash-in will be automatically sent to.

After that, the next step is to click on the crypto you wish to convert to naira.

Copy the generated address from cash-in and use it to withdraw from your crypto exchange (Binance, Bitget, Bybit). Make sure you withdraw via the right network and also, withdraw only the supported tokens on cashin, otherwise your funds may be lost.

Immediately the token reflects on cash-in, the money will be instantaneously sent to the bank account you linked on the app. This is one of the easiest ways to convert crypto to naira in Nigeria.

Limitations

The main limitation is the number of supported Crypto assets or tokens. If you have other crypto assets besides USDT, BTC or Usdc, you may have to convert them to the supported ones before you can make use of cash-in.

Regardless of this limitation, it’s a great way to withdraw your crypto to naira in 2024 without having to use p2p or risking your bank account getting flagged.

2. Valora

Valora is a multi chain crypto wallet that enabled users send, save and receive assets in the celo network. Which means you can send, receive and also save money in Celo, Cusd, USDT on Celo network using valora.

The interesting part is that, there is also an option to withdraw your money at anytime in the black market rate i.e. the best rate at the time. This is due to the partnership Valora has with Bitmama, making it very possible and seamless for users to convert their crypto to naira using the mobile app without having to send to any other exchange.

Best part is that, the withdrawals take less than 10 mins to be processed by Bitmama.

How to Get Started

The first step to withdrawing your USDT or crypto assets to naira bank account is, downloading Valora and creating a wallet. While doing so, you will be shown a keyphrase, endeavour to save it somewhere safe, but avoid saving it where third party can access it to avoid losing your assets.

After creating a wallet, you will be logged into the main dashboard where you will see Send, Receive, Swap etc. Click on Receive to see your celo address.

The celo address can be used to receive all assets under the Celo Network (Cusd, Celo, USDT on Celo, etc)

Next step to swap any crypto assets you have on other exchanges to Celo before sending to Valora.

How to Swap Crypto Assets On Bybit

Like I said, the first step is to convert any crypto token you have on your wallet to Celo. If you have USDT, then click on Spot on Bybit, on the trade page, click on the current trading pair and search for Celo/USDT

Navigate to the Buy and change from Limit to Market, then enter the amount of usdt you wish to convert to Celo and hit the Buy button. The USDT in your assets will be instantly changed to Celo and then you can proceed to withdraw the Celo to your Valora.

Copy the celo address from your Valora, open Bybit, go to assets, tap on withdraw and follow the next prompts to send out the Celo to your Valora.

However, if you don’t have USDT in your Bybit but you wish to withdraw using valora, then simply click on Spot, tap on the trading pair once again, search for the crypto asset you have in your balance.

Let’s say you have Notcoin in your balance, simply search for NOT/USDT trading pair. This time around, navigate to the Sell page, set it to market once again and sell your not for USDT before you do the Celo/USDT trade.

So the process will look like this => Sell your Asset for USDT and Then Buy CELO with the USDT. This should happen before you send out the Celo to Valora.

How to Swap On Binance

There are two options available for users on Binance, the Convert feature and the spot trade. I personally prefer to use the convert feature due to how simple and straightforward it is.

Also Read: Cleva App Review: Safe? Receive Dollar Payments Without Stress 

It’s same process on Binance, bear in mind that the goal is to convert whatever asset you have to USDT then finally to Celo before sending to Valora. For Binance users, simply click on Trades > proceed to select the trading pair. If you have USDT in your assets, simply click on Celo/USDT, change it to Market and then enter the amount you wish to convert to Celo.

After trading your USDT to Celo, you can now proceed to withdraw to your Valora.

Alternatively, you can just use the Convert feature on Binance. Click on Trades > Convert and select the crypto asset you have, then enter amount and swap to Celo as shown in the screenshot below.

Once you are done swapping, go back to assets and withdraw the Celo to Valora Celo address.

How to Swap Crypto Tokens on Bitget

Click on Trades > on the spot trading page, click on the trading pair and search for Celo/USDT.

Tap on the trading pair if you have USDT and then buy Celo with whatever amount of usdt in your assets. After which, you proceed to Assets to withdraw the Celo to your Valora account.

Or you can just click on Convert on the trades page and change your USDT or any other assets directly to Celo. The convert feature comes in handy when you have less than 1 usdt worth of crypto and you wish to convert.

Converting Crypto to Naira Using Valora

Once you have received the Celo from your crypto exchange(s), the next step is to withdraw from Valora directly to your local bank account.

To do this, simply open Valora and tap on wallet, click on your Celo wallet showing the amount received, then you will see, Send, Swap and More”. Click on more to explore additional features.

There you will see the option to withdraw funds. Tap on it and proceed to fill in the amount of Celo you wish to withdraw. The next page will prompt you to either opt to withdraw using Bitmama; a payment system integrated into the wallet.

Click on it, add your bank account and submit. The payment will be instantly processed and sent to your bank account using the best rate.

Pros

• Instant processing of payments
• Best dollar to naira rate.
• No p2p, so no risk of bank account being flagged or blocked by CNN

Limitations

• Might be stressful for a newbie who doesn’t know how to swap or trade crypto assets to Celo. You need a level of experience and understanding to complete the process without mistakes
• Valora application lags sometimes. The app sometimes takes time to load, which makes user experience subpar.

3. Opera MiniPay

This is not an application per say but it is a payment system integrated into the Opera Mini browser and it’s another great way to withdraw your USDT or any crypto currency to a naira bank account.

Minipay enables you save, spend and receive money in cUSD. Fortunately, it can be used to withdraw money directly to local bank account, so all you have to do is send cUSD to Minipay and make your withdrawals using the best rate.

If it’s your first time, then bear in mind that, you would have to make the swap from Celo to cUSD on Valora. So Valora comes to play again in this case.

Swap any crypto assets you have to Celo and then send it to Valora. Once received, click on Swap on Valora app and change the Celo received to Celo Dollar (cUSD). After doing that, open Opera Mini app, navigate to Minipay.

Tap on Add Cash, you will be shown four options, Deposit using Bank, Debit card, Valora or Third party exchanges.

Clicking on Third party exchanges will make them reveal your cusd address. But if you are sending the cUSD from Valora, simply click on Valora from the option and you will be taken directly to the app to input amount you want to send out.

Enter the cUSD amount and submit. Immediately the money will be added to your Minipay and then you can safely withdraw to your bank account using one of their payment processors. I prefer cash ramp but you can go with the one with the best rate.

Pros

• Payment is near-instant and also seamless
• Best rate possible because you are given the opportunity to choose payment processor with the highest rate.
• No p2p, so no risk of account getting flagged.

Limitations

• Stress of swapping from Celo to cUSD, certainly a longer process.
• Sometimes payment can be delayed for hours. Though it’s rare.
• Need to manually confirm receipt of money after you’ve been paid by the agent.

Other Mobile Apps That Can Be Used to Convert USDT to Naira

1. Yellow Card (create an account, complete KYC requirement and, send USDT to your yellow card address) Sell the USDT for naira and place withdrawal.

2. Cenoa (create an account, swap your crypto assets on the one of the exchanges to USDC and send to your Cenoa Usdc address, then you place withdrawal)

Frequently Asked Questions

1. How to Sell USDT to Naira On Binance

It’s no longer possible to sell or convert your USDT or any crypto to naira on Binance. Following the gross USD to Naira volatility, the FG intervened, moved to clamp down on p2p trading on Binance, which made the Management of the exchange delist Naira from its platform.

2. Best App to Convert USDT to Naira

I think the word, “Best” is relative. There are myriad of options but for me, I would say Cash-in and Valora are the best based on my personal experience. Cash-in is first because, you can send USDT (Trc20 & Bep20) directly to Cash-in and get naira equivalent instantly. On the other hand, Valora requires you to swap your USDT to Celo before withdrawing.

3. How Can I Convert my Crypto to Cash In Nigeria?

You can get this done using Valora, Cash-in Application, Cenoa, Yellow card, Minipay etc. refer to the above guidelines to avoid making mistakes.

4. Which Crypto Wallet Can Withdraw to a Naira Bank Account?

Valora, Yellowcard, Cenoa, Minipay etc. 

Conclusion

Incase you have been searching for ways to convert USDT to naira or any other crypto to naira, this article must have answered your questions. If you enjoyed it, do well to share and join our telegram channel for more interesting reviews and updates.

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