How Nigerians can use Cashout to convert Bitcoin to Cash amid freezing triggered by crypto downturn

Home / Africa / Nigeria / How Nigerians can use Cashout to convert Bitcoin to Cash ...

Published: 2022-06-17

As a result of the global financial market being forced into a more precarious position, people of all ages and nationalities around the world are reporting feelings of pressure and worry. There is currently a downward trend in the pricing of key cryptocurrencies and tech equities.

The present rate of inflation, in conjunction with Russia's proposal to outlaw the use of Bitcoin and other cryptocurrencies as a method of payment, is, without a shadow of a doubt, driving the crypto industry completely bonkers. As a result of these changes and uncertainty, the largest cryptocurrency exchange in the United States, Coinbase, has terminated the employment of 18 percent of its workers and withdrawn job offers. While Gemini has let go of 10 percent of its workforce, BlockFi is planning to free 170 of their responsibilities as employees.

Even more important is the fact that Celsius, a lending and swapping system, has taken the step to prohibit Bitcoin withdrawals as a result of what it refers to as "severe market conditions."

Whether we've seen the worst of it or there are still more downward trends for crypto, holders of virtual currency, and Nigerians in particular, shouldn't have to battle to acquire access to their assets anytime they want to. This is true regardless of whether we've seen the worst of it or not.

As architects in the cryptocurrency industry, we have a commitment to ensure that Nigerians enjoy the ease of being able to change their Bitcoin into cash whenever they choose to do so. Because of this, we decided to develop a streamlined platform that we call Cashout.

CASHOUT is a premium Bitcoin for Naira exchange that is backed by Nairaex and provides the ability for Nigerians to convert their Bitcoin to cash. Cashout is a completely automated peer-to-peer platform that offers immediate payouts on all transactions in addition to standardised exchange rates.

As a Cashout user, all you need to do to get started is sign up for an account, set up a kiosk, convert your Bitcoin to the Nigerian Naira, and withdraw the funds from your local bank account. Cashout provides a multitude of advantages, some of which are improved conversion rates, decreased transaction fees, and a shortened processing time for transactions.

Cashout provides a number of different use cases, in addition to offering a new way to convert Bitcoin to cash and make straightforward payments on a day-to-day basis. These are the following:

  • Cashout is what you should use to convert your personal bitcoin.
  • putting it to use in order to get bitcoin as a form of payment for a good or service.
  • An opportunity to earn revenue without actively doing anything.
  • How to Get Started with the Cashout System

    Using Cashout to exchange Bitcoin for fiat currency shouldn't be that challenging of a chore. All that is required of you at this point is to follow the instructions that are explained below.

    First, go to and register for an account there. In order to proceed with this step, you must have a working email address.

    The second step is to finish the verification and set up a kiosk connection. For the purposes of verification, you should be able to produce a current identifying document, such as your National Insurance Number (NIN), driver's license, or international passport.

    Insert the total amount that has to be paid in Step 3. After inputting the value of Bitcoin they intend to sell, the amount of Naira that corresponds to that Bitcoin value will be created.

    In the fourth step, enter the receiver's bank account information. The necessary bank information consists of the following: the bank name, the account number, and the account name.

    Sending bitcoins is the fifth step. Cashout will supply you with an address, and you will be asked to send Bitcoin from your wallets to that address.

    Why should you utilize Cashout?

    The Cashout platform provides users with a number of benefits, including the following:

  • Cashout is supported by Nairaex, a premium exchange that is run by Nigerians for Nigerians and has built a trustworthy reputation over the course of its existence.
  • Cashout guarantees users the highest possible level of both speed and security during the transaction process.
  • Support for clients is available around the clock via email, a website help page, and phone calls. Agents deal with any questions and complaints raised by customers.
  • An intuitive user interface that allows you to compute your rate and commission so that you may estimate the amount of profit that you will make over a given time period.
  • Cashout is the form of currency that will dominate the market in the future for Nigerians. Sign up Right Away!