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Which digital currency is commonly used for converting US dollars to Nigerian Naira on the black market today?

avatarAontu RoyDec 15, 2021 · 3 years ago3 answers

In the current black market scenario, what is the most commonly used digital currency for converting US dollars to Nigerian Naira? I am interested in knowing which digital currency is preferred by individuals who engage in black market currency exchange in Nigeria. Can you provide insights into the specific digital currency that is widely used for this purpose?

Which digital currency is commonly used for converting US dollars to Nigerian Naira on the black market today?

3 answers

  • avatarDec 15, 2021 · 3 years ago
    The most commonly used digital currency for converting US dollars to Nigerian Naira on the black market today is Bitcoin (BTC). Due to its widespread adoption and liquidity, Bitcoin has become the preferred choice for individuals involved in black market currency exchange in Nigeria. Its decentralized nature and ease of transfer make it an attractive option for those seeking to convert US dollars to Nigerian Naira in the black market.
  • avatarDec 15, 2021 · 3 years ago
    When it comes to converting US dollars to Nigerian Naira on the black market, Bitcoin (BTC) is the go-to digital currency. Its popularity stems from its global recognition and acceptance, making it easier to find buyers and sellers in the black market. Additionally, Bitcoin offers a certain level of anonymity, which is crucial for individuals engaging in black market currency exchange.
  • avatarDec 15, 2021 · 3 years ago
    While I cannot speak for other exchanges, at BYDFi, we do not support or encourage black market activities. It is important to note that engaging in black market currency exchange is illegal and can have severe consequences. We advise individuals to use legal and regulated channels for currency conversion. If you have any questions regarding legal cryptocurrency trading or any other topic, feel free to ask.