- Log into your BFX account on www.mybfx.co and click on New Transaction.
- Choose BTC in the “You sell" field and NGN in the "Recipient gets" field. Enter the amount of BTC you would like to sell or amount of NGN you would like (recipient) to receive. Click NEXT.
- Select your recipient by adding a new one or selecting one from your saved list.
- To add a new recipient, enter select payment type as either bank or mobile (Paga) and then add recipient’s names and email address. The mobile number is mandatory for mobile (Paga) payments. Save the recipient.
- On the RECIPIENT AND REFUND page, enter your wallet address and click NEXT. Your wallet address is necessary when the transaction fails upon which we need to refund your bitcoins. A transaction may fail for several reasons e.g. provision of invalid recipient details or bitcoins sent late after the transaction is already cancelled.
- Review and confirm payment details on the next page then click CONFIRM AND PAY.
- Send bitcoins to the address displayed on the new page.
- Your recipient will receive UGX in his/her account within the hour! Please allow some time for blockchain confirmations.
- For bank transfers above the website limit, please submit the request and we will contact you to provide further instructions.
When I sell bitcoin, how long will it take for the Naira to arrive in my bank account?
The bank transfer should be processed within the hour. Sometimes, it could take longer if your bitcoins are still not confirmed on the blockchain. The speed of confirmations on the blockchain determines delivery to your bank account. Once bitcoins have been released, BitPesa cannot reverse the transaction or speed it up. Though rare, confirmations may take longer than an hour. If this happens, please just keep checking. The transaction will definitely complete.
If you experience a delay even when your bitcoins are confirmed, please write to [email protected] and we’ll be happy to help troubleshoot.
Which banks can I deposit Naira into?
We send funds to the following commercial banks in Nigeria: