Fiat-to-crypto currency conversion on Palremit
To convert fiat currency to cryptocurrency on Palremit, follow these steps:
- Create a Palremit account and complete the KYC verification process by providing your selfie photo and Bank Verification Number (BVN).
- Fund your Palremit account by depositing local fiat currency like the Nigerian Naira (NGN). You can do this by making a bank transfer to the account number provided in the app.
- Once you have NGN in your Palremit wallet, you can convert it to cryptocurrency. Go to the Swap section in the app and select the fiat-to-crypto pair you want to exchange, such as NGN to USDT, BTC or ETH.
- You can convert between crypto to crypto like BTC to ETH; crypto to fiat like USDT/BTC/ETH to NGN or USD; fiat to fiat like NGN to USD; fiat to crypto like NGN to BTC or ETH.
- Palremit will show you the current exchange rate and any applicable fees before you confirm the transaction.
- After the swap is complete, the converted cryptocurrency will be deposited into your Palremit wallet, which you can then use for other transactions on the platform or withdraw to an external crypto wallet.
Palremit makes it easy to convert your crypto assets to local currency by allowing you to securely swap between supported cryptocurrencies and fiat money all within your multi-currency digital wallet.