The Nigerian Naira (NGN) to Bitcoin (BTC) exchange rate represents a critical financial metric for individuals and businesses operating within Nigeria's rapidly evolving digital economy. As interest in cryptocurrencies grows, understanding how to convert local currency into Bitcoin becomes essential for participation in global digital markets.
This guide provides a comprehensive overview of the NGN to BTC conversion process, current exchange rates, historical trends, and practical considerations for those looking to navigate this financial pathway effectively.
Current NGN to BTC Exchange Rate
As of July 4, 2025, at 08:20 UTC, the live exchange rate stands at:
1 Nigerian Naira (NGN) = 0.000000006040 Bitcoin (BTC)
This means that for every Nigerian Naira you exchange, you receive approximately 0.000000006040 Bitcoins. Conversely, 1 Bitcoin (BTC) = 165,566,733 Nigerian Naira (NGN).
Exchange rates fluctuate constantly due to market forces, so verifying real-time rates before any transaction is crucial.
Historical Performance and Trends
One-Year Overview (July 2024 - July 2025)
Over the past year, the NGN/BTC pair has demonstrated significant volatility. The average exchange rate during this period was approximately 0.000000007831 BTC per NGN.
Key Historical Points
- Highest Rate (Last Year): The NGN/BTC exchange rate peaked at 0.00000001164 BTC per NGN on Friday, July 5, 2024.
- Lowest Rate (Last Year): The rate hit its lowest point at 0.000000005602 BTC per NGN on Thursday, May 22, 2025.
- Overall Trend: The NGN/BTC rate has decreased by approximately -46.87% over the past year, indicating that the Naira has depreciated in value relative to Bitcoin.
Recent Volatility Analysis
- Last 30 Days: The exchange rate reached a high of 0.000000006299 and a low of 0.000000005807, with an average rate of 0.000000006071. The total change observed was -0.66%.
- Last 90 Days: The rate showed higher volatility, with a maximum of 0.000000008320 and a minimum of 0.000000005602. The average rate was 0.000000006400, with a total change of -22.44%.
Comprehensive Conversion Table
Below is a practical conversion table showing how much Bitcoin you would receive for various amounts of Nigerian Naira.
| Nigerian Naira (NGN) | Bitcoin (BTC) |
|---|---|
| 1,000 NGN | 0.000006040 BTC |
| 5,000 NGN | 0.00003020 BTC |
| 10,000 NGN | 0.00006040 BTC |
| 50,000 NGN | 0.0003020 BTC |
| 100,000 NGN | 0.0006040 BTC |
| 500,000 NGN | 0.003020 BTC |
| 1,000,000 NGN | 0.006040 BTC |
| 5,000,000 NGN | 0.03020 BTC |
| 10,000,000 NGN | 0.06040 BTC |
How to Convert NGN to Bitcoin
Converting Nigerian Naira to Bitcoin is a straightforward process typically facilitated through cryptocurrency exchanges or peer-to-peer (P2P) platforms. The general steps involve:
- Select a Platform: Choose a reputable cryptocurrency exchange that supports NGN deposits and BTC trading.
- Create an Account: Register and complete any necessary identity verification (KYC) procedures.
- Deposit Naira: Fund your account using a bank transfer, card payment, or other supported methods.
- Execute the Trade: Navigate to the trading section, select the NGN/BTC pair, and place your buy order.
- Secure Your Bitcoin: Once purchased, transfer your BTC to a personal hardware or software wallet for safekeeping, rather than leaving it on the exchange.
For a streamlined experience, many users utilize online currency converters to check real-time rates before executing a trade on their chosen platform. 👉 Check real-time conversion tools
Frequently Asked Questions (FAQs)
What factors influence the NGN to BTC exchange rate?
The exchange rate is primarily driven by the supply and demand dynamics of both Bitcoin and the Nigerian Naira. Key factors include Bitcoin's market sentiment, global adoption news, regulatory developments in Nigeria, local economic conditions, inflation rates, and foreign exchange policies set by the Central Bank of Nigeria.
Is it better to convert NGN to BTC at a specific time of day?
Foreign exchange and cryptocurrency markets operate 24 hours a day during the week. Liquidity and trading volume tend to be highest during overlapping hours of major global markets (e.g., between 3-4 PM GMT). Converting early in the week is often advised if you need the Bitcoin quickly, as transactions initiated late on Friday may not settle until the following Monday.
How can I ensure I get the best possible rate when converting?
To get the best rate, compare the offered rates across multiple reputable exchanges and P2P platforms. Be aware of hidden fees and spreads that might affect the final amount of BTC you receive. Using limit orders on exchanges can also help you target a specific exchange rate rather than accepting the current market price.
What has been the long-term trend for NGN against BTC?
Over a multi-year period, the Nigerian Naira has significantly depreciated against Bitcoin. Historical data shows a decrease of over -99% in the last nine years, highlighting Bitcoin's substantial appreciation relative to the Naira and the erosion of the local currency's purchasing power in the digital asset space.
Are there legal restrictions on converting NGN to BTC in Nigeria?
The regulatory landscape for cryptocurrencies in Nigeria continues to evolve. While citizens are free to trade and hold crypto assets, the Central Bank of Nigeria (CBN) has previously issued directives restricting regulated financial institutions from facilitating crypto transactions. It is crucial to stay informed about the latest regulations from the Securities and Exchange Commission (SEC) and CBN.
What are the risks involved in converting NGN to Bitcoin?
The primary risks include Bitcoin's high price volatility, which could lead to rapid gains or losses. There are also security risks associated with hacking and scams on unvetted platforms, potential regulatory changes that could affect market access, and the technical risk of sending funds to an incorrect wallet address, which is irreversible.