How To Buy and Sell US Dollars In Nigeria


The US dollar is the most important currency in the world. If you live in Nigeria, it can be difficult to get your hands on US dollars. This is because of the strict visa and immigration policy in Nigeria. Fortunately, there are ways to get your hands on US dollars. Here is a complete guide to buying US Dollars for Nigerians.

How to get US Dollars in Nigeria

There are many ways Nigerians can get US dollars. Nigerians use online exchanges, friends, family members, and other sites to get their hands on US dollars. The most common way is through online exchanges. You can also use cash converters or visit a Nigerian bank that allows international transfers to buy US$.

The first step is to sign up for an account on the exchange of your choice. For this guide, we will use Changelly because it has some advantages over other exchanges. You’ll need to provide your email address, create a password, and provide your phone number so they can verify the account. Once you’ve completed this process, click “log in.” From the log-in page, click “login” in the upper right-hand corner of the screen. You’ll then be prompted to enter your username or email address and password again before logging in successfully.

How to exchange USD for NGN

The easiest way to exchange US Dollars for Nigerian Naira is through a bank. If you have a Nigerian bank account, you can simply go to the bank and ask for a cash advance from your account or transfer money from your debit card by using Western Union.

Another way to buy US dollars is through an online service like PayPal. PayPal connects buyers with sellers around the world so if you have a seller who agrees to send you US dollars, it’s easy to make that transaction happen. The only tricky thing about this method is that you’ll need a Nigerian address in order to receive the US dollars, though it’s possible to use a fake one.

You can also find someone who has American dollars and wants Nigerian Naira. For example, if I wanted to trade my American dollars for Nigerian Naira, I would post on Facebook or Instagram that I am willing to trade at a certain rate. I’d post my offer and wait for someone who wants what I offer.

You could also try going into the black market and exchanging your US dollars at a rate other than the official exchange rate set by Central Bank of Nigeria (CBN) but this is risky as there are often high rates of fraud and scams in Nigeria because there is no regulation over the market.

What are the challenges of getting US Dollars in Nigeria?

The most common way Nigerians get US dollars is through relatives who live in the USA and visit back home often. Other Nigerians may get them from friends or family members who live in the USA and come to Nigeria for a visit. These two groups of people will need to go to a Nigerian Bureau De Change (NBD) and exchange their money with the official exchange rate. The problem with this is that you might end up getting less than what your USD is worth. And that’s not all; these options only work if you have a friend or relative who can offer some assistance, which isn’t always possible.

Conclusion

Buying US Dollars in Nigeria can be a difficult task, but it’s a necessary one. The value of the Naira has been declining for a while now, and it’s expected to continue to drop. That means that now is a good time to invest in your future by getting your hands on those valuable greenbacks.

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