Bitcoin and cryptocurrencies in general have brought a huge disruption in the global financial industry, with individuals now having enormous control over their finances. But the price volatility and unpredictability in the value of the crypto market has also brought unexpected challenges among crypto holders.
The arrival of stable coins has been a big relief among crypto holders who have been looking for a way to store their crypto without it losing value. Stable coins allow us to lock the value of our cryptos, by pegging them to the US Dollar.
Apart from preventing your crypto assets losing value, many Nigerians now save their money in stable coin. Due to persistent inflation and bad government policies, the Naira has depreciated consistently against the Dollar in the last couple of years. Stable coins presented a perfect opportunity for citizens to exchange their Naira to USD stable coins.
We have some popular stable coins such as USDC, USDT, Binance USD, True USD, DAI, etc.
Tether USDT is the most popular stable coin worldwide; having the largest market cap and trading volume.
How to Buy USDT in Nigeria using Naira Bank Transfer or ATM Card
There are a number of platforms that you can buy USDT in Nigeria. But the recommended and cheapest platform for USDT Naira exchange is Sowget.com.
Sowget is one of the best digital currency exchange website in Nigeria that allows you buy or sell various cryptocurrencies using your Naira ATM card or bank transfer. The platform is safe, secure and simple to use for crypto traders that wish to exchange USDT or other cryptocurrencies.
Please follow the steps below in order to quickly purchase your USDT.
Visit https://sowget.com and login to your account dashboard (https://www.sowget.com/login).The login button is located at the top right hand side of the website. If you are a new member to Sowget website, you have to first register by clicking the Register button, (https://www.sowget.com/register). After registration and account activation, you can then proceed to login to your account dashboard.
Inside your Sowget account dashboard, click on the Buy menu and select USDT, as can be seen below
In the USDT funding order page, fill in your transactions details such as your correct USDT receiving address, the blockchain network (e.g. TRC20, ERC20, BEP20) and the amount in USD you are buying.
The USD to Naira equivalent is automatically calculated for you to see the Naira amount you would be sending to sowget bank account. Once you are satisfied with the information provided, click on the Proceed button.
In the funding preview page, cross-check your transaction details for accuracy. If everything is correct, then click on the Make Payment button.
At this stage, you would be required to make Naira payment using your ATM card, USSD or bank transfer to Sowget bank account. After your successful payment, a transaction success message is displayed on the page and your USDT wallet is credited instantly.
Because of the network fees, please note that the minimum funding amount for USDT is 40 USD.