How to sell Bitcoin for naira by bank transfer
Selling Bitcoin for naira means a buyer pays you directly and Koinzaar holds your Bitcoin until you release it. Release only after the naira is in your own account and you have checked that account yourself.
Two ways to sell
- Take an existing offer on “Sell Bitcoin in Nigeria” from a buyer whose rate and limits suit you.
- List your own offer. Set a margin on the market price or a fixed naira rate, and name the methods you accept: bank transfer, OPay, PalmPay.
What happens in a trade
- Create an account and verify your email.
- Hold Bitcoin in your Koinzaar wallet. The wallet page shows which networks are currently accepting deposits.
- Open or accept a trade. Your Bitcoin for that trade moves into escrow immediately.
- The buyer sends naira to the account you named, from an account in their own name, and marks the trade paid.
- You check your own banking or wallet app. When the naira is there, you release, and the Bitcoin goes to the buyer.
Fees
The seller pays a fee when the crypto is released: 0.5% for bank transfer and mobile money, 0.75% for e-wallets, 1% for cash and 3% for gift cards. Buyers pay no Koinzaar fee.
Bank transfer, OPay and PalmPay are charged at 0.5%, paid by you as the seller when you release. The buyer pays no Koinzaar fee. Your bank’s own transfer charges are separate.
Checks before you release
- Release only after the money is in your own account, checked in your own banking or wallet app. A screenshot, a forwarded SMS or a “debit alert” sent by the buyer is not a payment.
- Accept payment only from an account in the same name as the buyer’s Koinzaar profile. A payment from someone else is how stolen funds and later reversals reach you.
- Keep every message in the trade chat. If something goes wrong, the chat and your evidence are what the moderator reads.
- If anything does not match, open a dispute instead of releasing. The crypto stays in escrow, and a moderator decides every dispute.
A trade that runs out of time is cancelled and the Bitcoin returns to you. Koinzaar never releases it because a timer ran out.
Questions
Does Koinzaar hold the naira?
No. The buyer pays you directly into your own bank, OPay or PalmPay account. Koinzaar holds the Bitcoin side of the trade only.
What if the buyer says they paid and the money is not there?
Do not release. Open a dispute. The Bitcoin stays in escrow while a moderator reads the chat and whatever evidence each of you attaches.
What does it cost to sell Bitcoin for naira?
You pay 0.5% of the trade when the Bitcoin is released, for bank transfer and mobile money. The buyer pays no Koinzaar fee.
Last checked 2026-10-27.
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