Bitcoin was on the path to set $20K new mark as analysts predicted but dropped to $18,842 at the time of publication.
In Nigeria, bitcoin to the naira exchange rate is N8,350,210 at the time of compiling this report, Friday, November 27, 2020. A report says 1BTC could be as high as N160,270,000 by 2025
Disclaimer:This data is collated from various crypto data firms and trading platforms, meaning the price you find on this page is dynamic considering the volatility of bitcoin and altcoins.
You must also note that the exchange rate isn’t the same on crypto platforms, what you find luno might slightly be different from what you see on YellowCard. Location matters.
Before the end of the year, it’s predicted that 1BTC will go for at least N10 million, prompting short-term crypto traders in Nigeria to renew their trading portfolio.
The most valuable cryptocurrency on earth experienced the present boom last in 2017, driven largely by consumer interest.
After the price crashed, depreciating to as low as 1BTC/$6,500, interest nosedived among Nigerians and other short term traders around the World.
Bitcoin To Naira Exchange Rate on Major Exchange In Nigeria
Crypto Research Report predicted that it could break $20,000 (£15,000) – for the first time ever – by Christmas, crypto exchange in Nigeria is not left out of this as they continue to welcome new traders on board.
BTC to Naira on Luno is BTC/N8,350,210 at this time. Luno is one of the major popular platforms among Nigerians where they buy and sell different cryptocurrencies.
The luno exchange rate is one of the fairest among Nigerians.
On luno, you can start trading as low as N500 by downloading its easy to use the app on Google play store.
On another platform quidax.com, bitcoin to Naira is NGN NGN8,252,999.99 at the time of compiling this report, ethereum was NGN NGN252,854.1; litecoin is NGN34,989.99 while Ripple’s XRP is as low as NGN262.28
You can use our Crypto Calculator to convert btc to more than 50 fiat currencies.
The exchange rate of BTC against Naira isn’t static, it changes within seconds. The price you see on this post may change due to lots of factors that determine the price of the most valuable digital asset on earth.
Prediction of bitcoin to Naira ( 2020-2033)
Table of forecast for Bitcoin, Ethereum, and 3 others between 2020 to 2033 by CRR:
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What is bitcoin rising?
Ordinarily, the Nigerian Naira doesn’t have an advantage over major currencies, no thanks to its poor economic policies and fall in the price of crude oil at the international market.
The Naira against the US dollar is poor, so also the Great Pound, so isn’t worrisome that 1BTC is over N8 million naira, if the naira couldn’t make any gain against USD.
In our earlier report, eToro’s Simon Peters was quoted as saying listed some of the factors that contributed to the surge in the price of bitcoin to a “massive influx of investors from large scale institutions” they include:
- Investment trusts,
- Pension schemes
- University endowment funds
Also, some people who see a brighter future in gold are now changing the narrative, saying bitcoin could be a modern investment alternative.
Both assets are similar in terms of supply. There is a finite supply. Bitcoin is limited to 21 million coins.
Some investors may as a better alternative to preserve their investments, says Russ Mould, the investment director at AJ Bell.