Send BTC on the Bitcoin network to your Snapiro BTC address, sell it in the app, and withdraw the naira to any Nigerian bank. Those three steps are all it takes to turn Bitcoin into naira.
The whole thing usually takes as long as the Bitcoin network needs to confirm your transfer, plus a few minutes of tapping. Bitcoin behaves differently from USDT in two ways that matter when you cash out.
Its dollar price moves all day, and it only travels on one network. This guide covers both of those first, then the selling steps and the costs from your wallet to your bank account.
How the Bitcoin to naira rate is worked out
Your payout on the Bitcoin sell page is two numbers multiplied together: Bitcoin’s price in US dollars, and Snapiro’s naira-per-dollar rate. Both change through the day.
Here’s an example with made-up figures. If Bitcoin is $100,000 and the rate is ₦1,450/$, then 0.01 BTC is worth $1,000, which gives you ₦1,450,000. Check the real numbers any time on the crypto to naira calculator; you don’t need to log in.
Snapiro’s margin sits inside that rate, so there’s no selling fee added afterwards. The naira figure you see on the confirm screen is what lands in your naira wallet, and the rate is locked the moment you enter your PIN. That lock is the part that matters with Bitcoin: if the price drops a minute after you confirm, your sale is already done at the old figure. How the sell rate is calculated explains the formula in more detail.
The flip side is that the price can also move while your BTC is still on its way. Nothing is locked until you confirm the sale, so the naira value when your deposit arrives may be higher or lower than when you hit send.
Bitcoin network only: what that means for you
Snapiro accepts BTC on the Bitcoin network and nothing else. Many exchanges list other ways to withdraw “BTC”, and those are where people lose money:
| Option you may see | Can you send it to Snapiro? |
|---|---|
| Bitcoin / BTC network | Yes |
| Lightning Network | No |
| BNB Smart Chain (BEP20), which sends BTCB | No |
| Ethereum (ERC20), which sends WBTC | No |
Wrapped tokens like BTCB and WBTC are separate tokens on other blockchains that track Bitcoin’s price. They aren’t real BTC on the Bitcoin network, so they won’t be credited. If your exchange only shows a wrapped option, sell or convert on that platform first, or send another coin Snapiro supports. The full list lives in which coins and networks Snapiro supports.
A quick sanity check: genuine Bitcoin addresses start with 1, 3 or bc1. An address that starts with 0x belongs to an Ethereum-style chain, not Bitcoin.
How to sell Bitcoin for naira on Snapiro
1. Create your BTC deposit address
Open Home › All wallets › BTC, tap Deposit and choose Bitcoin under Network. If there’s no address yet, tap Create address. It usually takes under a minute, so pull down to refresh, and your address and QR code appear on the Deposit screen. You only do this once. The deposit address guide has screenshots.
2. Send the BTC
Copy the address or scan the QR code, then go to Withdraw or Send in your exchange or wallet. Paste the address, pick the Bitcoin network and enter the amount. Compare the first and last few characters of what you pasted with the address in Snapiro before you confirm.
Save the transaction ID (TxID). You can paste it into a public block explorer such as mempool.space to watch the confirmations come in, and support will ask for it if anything goes wrong.
3. Wait for confirmations
Bitcoin adds a new block roughly every 10 minutes on average, and your deposit shows in Snapiro after the network has confirmed it. That makes BTC slower to arrive than USDT on TRC20, so allow more time. There’s no minimum deposit.
When the network is busy, transfers with a low fee wait in line behind higher-paying ones. Exchanges set the fee for you; personal wallets let you choose it, and a very low choice can leave your BTC waiting for hours. If it’s dragging, read why a deposit hasn’t been credited.
4. Sell
Tap BTC under Sell a coin on the home screen (or open All wallets › BTC), then tap Sell. Enter an amount or tap Max. Check the rate and naira figure, tap Sell BTC and enter your PIN.
The naira is credited to your naira wallet straight away. You’ll see Completed under Activity and get a push notification and an email.
You don’t have to sell it all at once. Some people sell part now and hold the rest, using the percentage buttons to split it.
5. Withdraw to your bank
You need a verified BVN or NIN to add a bank account, and the account name has to match your verified name. Any bank or wallet on NIBSS works, including OPay, Kuda, Moniepoint and PalmPay. The minimum withdrawal is ₦1,000 and each one costs ₦200.
Withdrawals are sent within 60 seconds of your request, though a slow bank or busy interbank network (month-end and public holidays are the usual culprits) can delay the credit. What to do if a withdrawal is taking long.
If the money is meant for bills, skip the withdrawal. Your naira balance pays airtime, data, electricity and DStv or GOtv directly, with 1% cashback.
What it costs
- Bitcoin network fee: paid to miners by whoever sends the BTC. On an exchange it’s usually a fixed withdrawal fee taken from your amount. It goes to the network and the exchange, not to Snapiro, and it changes with how busy Bitcoin is.
- Selling: no separate fee. The margin is in the rate.
- Naira withdrawal: ₦200 each time.
Bitcoin fees are flat per transfer rather than a percentage, so they hurt small amounts most. Sending ₦20,000 worth of BTC can lose a noticeable share to the fee, while on a large amount it barely shows. Every Snapiro charge is on the fees page.
Mistakes to avoid
Choosing Lightning or a BEP20 option on the exchange. It’s often the cheapest-looking choice on the withdraw screen, and it’s the wrong one for Snapiro.
Assuming the price stays put. If you need a fixed naira amount, sell as soon as the deposit lands rather than waiting to see what happens.
Selling to strangers on P2P. Fake bank alerts and “release first” pressure are common. With Snapiro there’s no buyer to trust; the naira is credited when you confirm.
Giving out your PIN. Snapiro staff never ask for it. Here’s how to spot people pretending to be support.
If you hold more than one coin, the stablecoin process is set out in selling USDT for naira. For sales of $20,000 or more per sale, the high volume desk confirms your rate before you send and pays the same hour.
Common questions
Can I sell a small amount of Bitcoin, like a few thousand naira?
Yes, there’s no minimum deposit. Just check the sending fee first, because on a tiny amount it can eat a big slice.
Do I need to verify before selling BTC?
Yes. You can deposit without verifying, but selling needs a verified BVN or NIN, and so do adding a bank account and withdrawing. See what each verification tier unlocks.
Why is my BTC deposit taking longer than USDT?
Bitcoin blocks come roughly every 10 minutes, and a low fee or busy network adds waiting time. Use your TxID on a block explorer to see where it is.
Can I send BTC from Binance?
Yes, as long as you pick the Bitcoin network on the withdraw screen and not BNB Smart Chain or Lightning.
The BTC page shows today’s figure. When you’re happy with it, get the Snapiro app and make your first sale.
