How to Buy, Sell and Trade Bitcoin (BTC) on Obiex

What is Bitcoin?

Bitcoin is a cryptocurrency launched in 2008 by an anonymous creator called Satoshi Nakamoto. Since its launch, Bitcoin has grown to become the number one cryptocurrency in the world.

According to the Bitcoin whitepaper, it was created to allow  “online payments to be sent directly from one party to another without going through a financial institution.”

You can buy Bitcoin on cryptocurrency exchanges like Obiex and use it to trade or store it in your wallet as a future investment.

Bitcoin Market Cap and Price

Bitcoin has a current market capitalisation of $515B and a circulating supply of 19,396,943 BTC. Its software design limits Bitcoin’s total supply and will never exceed 21,000,000 coins. The current price of BTC is $26,539.

How to Deposit NGNX on Obiex from your local Bank. | Obiex Finance Help Center

On Obiex, you can deposit Naira from your local bank account and exchange it for other coins. Follow these steps to do this.

Obiex Finance Help Center

How to Buy Bitcoin on Obiex Using Naira

1. Log in to your Obiex account using your registered email address and password. If you don’t have an obiex account, click here to create one in less than 2 minutes.
2. Select the “Buy/Sell” button in the top middle of your screen (for mobile app) or the top right corner of your screen (for Web).
3. Tap and select NGNX from the "from" coin list.
4. Select BTC  from the "select coin" list.
5. Enter the amount of naira you want to buy Bitcoin with.
6. Tap “Get Quote” to see the exchange rate and amount of BTC you’re buying.
7. Tap “swap” to confirm the transaction.
8. You now have Bitcoin in your Obiex Wallet.
   
   

How to Swap Bitcoin to Naira on Obiex

1. Log in to your Obiex account using your registered email address and password.
2. Select “Wallet” and tap Bitcoin, then select Swap.
3. Select NGNX from the "select coin" list.
4. Enter the amount of naira you want to swap Bitcoin to.
5. Tap “Get Quote” to see the exchange rate and amount of Naira you’re swapping.
6. Tap “swap” to confirm the transaction.
7. You now have Naira in your Obiex Wallet.
   

How to withdraw NGNX from Obiex to your local bank account. | Obiex Finance Help Center

NGNX is tied to the value of the Nigerian currency; Naira, and it can be sent directly from your Obiex Wallet to any Nigerian bank account.

Obiex Finance Help Center

How to Deposit Bitcoin on Obiex

1. Log in to your Obiex account using your registered email address and password.
2. Select the “Deposit” button on the top left of your screen (for mobile app) or the Top right corner of your screen (for Web).
3. Select Bitcoin from the list of crypto assets.
4. Select a network deposit address. Obiex supports Bitcoin and BSC(BEP20) deposit networks.
5. You will receive a notification once the Bitcoin is successfully deposited in your wallet.
   
   

How to Withdraw Bitcoin on Obiex

1. Log in to your Obiex account using your registered email address and password.
2. Select the “Withdraw” button on the top second left of your screen (for mobile app) or the Top right corner of your screen (for Web).
3. Select Bitcoin from the list of crypto assets.
4. Choose from the three withdrawal methods: Send to Obiex user, Send to multiple users or Withdraw to an external wallet.
5. If you choose to send to an Obiex user, type in their username, BTC amount, and the reason for transfer (this is optional) and tap send to the user.
6. If you choose to send to multiple Obiex users, type in their usernames and the BTC amount for each user and tap send.
7. If you select withdraw to an external wallet, paste the wallet address or select a wallet address from your saved address list.
8. Choose the network (Bitcoin or BEP20) you want to use, type the amount of BTC you want to send, and the reason for the transfer (this is optional).
9. Tap withdraw, and your transaction is now complete.
   

How To Swap From BTC to Other Cryptocurrencies on Obiex

1. Log in to your Obiex account using your registered email address and password.
2. Tap the swap button at the bottom middle of your screen.
3. Select BTC from the "from" coin list.
4. Select ETH, USDT, ETH, USD, USDC, or BUSD from the "select coin" list.
5. Select and confirm the coin amount you want to exchange.
6. The swapped amount of the selected coin is now in your wallet.
   

How To Swap From Other Cryptocurrencies To BTC on Obiex

1. Log in to your Obiex account using your registered email address and password. If you don’t have an obiex account, click here to create one in less than 2 minutes.
2. Tap the swap button at the bottom middle of your screen.
3. Select ETH, USDT, BNB, BCH, LTC, SOL or any other crypto from the "from" coin list.
4. Select BTC from the "select coin" list.
5. Select and confirm the coin amount you want to exchange.
6. The swapped amount of the BTC is now in your Bitcoin wallet.
   

Bitcoin Vs Bitcoin Cash: What’s the Difference?

Bitcoin Cash emerged as a result of a hard fork in the Bitcoin blockchain in August 2017. A hard fork in crypto is when significant changes are made to a cryptocurrency’s code.

Obiex's BlogJosephine Inika