How to Convert Fiat Currency to Crypto, Using Bybit Platform

How to Convert Fiat Currency to Crypto, Using Bybit Platform

  • Nigerians and other crypto traders from around the world can convert their local currencies into cryptocurrencies
  • ByBit, a relatively new P2P crypto platform said traders can now use its newly introduced tools to trade crypto using their local currencies
  • It uses USDT, stablecoin, a type of cryptocurrency which aims to keep cryptocurrency valuations stable.

A new platform, Bybit says Nigerians and traders from around the world can trade in crypto by converting their local currencies to crypto.

According to Nairametrics, it is described as the eBay of Crypto. It facilitates the trading of two users’ holding at an optimal agreed price between two parties or more.

New platform allows crypto traders covert fiat currency to crypto
New platform allows crypto traders covert fiat currency to crypto Credit:Tim Robberts
Source: Getty Images

Bybit is a Peer-to-Peer (P2) decentralised system without middlemen. Payments take place instantly between the buyer’s bank account or wallets to the sellers’ account.

Multiple payment methods enabled on the platforms

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At the moment, the platform supports the trading of USDT, a stablecoin and type of cryptocurrency which aims to keep cryptocurrency valuations stable, with more than 80 payment methods, including debit and credit card and in-person payments.

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Traders can link up instantly from anywhere in the world. They also enjoy zero trading required deposits with no hidden charges.

Direct buying and selling between traders

P2P on the Bybit platform is secure and simple to use. The platform matches buyers and sellers for mutually trading. Bybit says its customer service is top-notch and available around the clock.

It was founded in 2018 and is one of the world’s fastest-growing crypto platforms.

Nigerian crypto investors show billions of dollars credited to their accounts in error

Legit.ng has reported that several Nigerian cryptocurrency investors have shown massive amounts of money running into billions of dollars credited into their wallets in a global glitch that made many momentary billionaires overnight.

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After Legit.ng reported a story of Chinedu MacGordon who woke up to a bloated cryptocurrency account, many took to the comment section Legit.ng’s Facebook pages to share screenshots of what they found on their Coinbase wallets.

Many reported a snag in withdrawing the money found in their accounts. Some users saw billions of dollars in their accounts.

Source: Legit.ng

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