Neteller is a centralized electronic currency that can be used to make online payments for goods and services. It is mostly used by merchants and individuals all over the globe for making financial transactions. Popular companies that transact using the Neteller e-currency are Forex brokers, Sport betting bookmakers, Binary options brokers, e-commerce online stores, freelancers and many more. Neteller is run by a UK company called the Paysafe group, however the e-currency can be operated in different base currencies such as USD, GBP, EUR, AUD, CAD and even the Naira. The company was founded in 1999 but came into the lime-light in 2006.
On the other hand the Bitcoin is a crypto-currency that was created from a latest technology called Blockchain. It is the first decentralized (this means it has no control or manipulation by the central bank or government of any country) digital currency and can also be used in making payments for good and services all over the world. The Bitcoin was founded in 2009 by a Japanese programmer named Satoshi Nakamoto.
These two digital currencies are no doubt one of the most used digital currencies for making online transactions. However the irony is that sometimes you might want to make a transaction with an individual or company via Bitcoin but at the moment you might only have Neteller. In this article i will show you how to exchange your Neteller funds to Bitcoin. I believe you must have already had an active/verified Neteller account and also a Bitcoin wallet if you are considering engaging in such exchange transaction.
But in-case you do not know what a Bitcoin wallet is, Bitcoin wallets are electronic storage programs for bitcoins, just like how you store your FIAT currency(cash) in the banks. Bitcoin wallets are provided by Crypto-currency wallet providers, examples include Luno.com, Localbitcoin.com, blockchain.com, coinbase.com, coinpayments.net e.t.c. So in-case you do not have one, you can go to any of these wallet providers to obtain yours.
Basically i always perform my exchange transactions of Neteller funds to Bitcoin using one of the most trusted, reliable and fastest exchanger called sowget. You have to open a profile with them before you can proceed to engage in your exchange transaction. To do this, please read carefully to understand the process as its very simple.
HOW TO OPEN A PROFILE AT SOWGET
- Visit the website http://www.sowget.com
- Click on ‘REGISTER’ at the extreme top-right of the home page.
- Fill the registration form which includes your full names, address, date of birth, e-mail address e.t.c
- Click ‘Register’ to submit your registration form and an activation link will be sent to the e-mail address you filled in the registration form.
- An activation link will be sent to the inbox or spam of your e-mail.
- Click on the activation link to complete registration.
Now you a certified user on sowget. Log-in into your profile to proceed with your exchange of Neteller to Bitcoin. First of all you need to sell to them your available Neteller. Please follow the simple steps below.
- Log-in into your profile on https://www.sowget.com
- Click on Withdraw E-currency
- Call the number 08144333114 to obtain the Neteller email to send your Neteller funds to.
- Fill the Withdrawal notification form
You have to be aware of the exchange rate of buying and selling both digital currencies from USD to Naira and vice-versa as the equivalent will be used in calculating how much your Neteller USD exchanged to Naira will fetch you in Bitcoin. Currently their rate for buying Neteller from you is N320 and their rate for selling Bitcoin to you is N370. So for example if you sell 50USD Netelller funds to them, you will have 16,000 as your exchange in Naira. Also since you already know you need to have N370 to get each Bitcoin in USD, your N16,000 will be divided by N370. Hence your N16,000 will fetch you 43.24 worth of Bitcoin.
So to complete this transaction, you have to immediately fill their Deposit notification form on their website as well so that their admin don’t send Naira to your Nigeria bank account as their payment is always fast. To get your Bitcoin wallet funded after you have sent your Neteller funds to them, please follow the simple steps as you are still loged in inside your profile on their website.
- Click on Fund E-currency
- Scroll to the bottom of the next page you are re-directed to.
- Fill the Deposit notification form which consists of the e-currency type( click on bitcoin here), Amount paid in Naira (put your Naira equivalent of your Neteller funds, in the above example, simply put N16,000), input your phone number, input Depositor’s name, Date of payment.
- Click ‘Submit Info’
Within 15 minutes your Neteller funds will be exchanged to Bitcoin and viola you can proceed to do your online transaction via Bitcoin or just store it in your Bitcoin wallet!