When a user has the need to convert 1 million Shiba to Naira, then the question arises – where did he get so much Shiba Inu? The answer is usually simpler than it seems, since the Shiba Inu cryptocurrency is one of the most accessible and popular coins on the market. The exchange rates of currency are so low, because it is becoming a dominant force on cryptocurrency space after the rise of the corresponding meme and its sway over social networks. Users all over the internet are praising the coin for its versatility, but few remember how it actually rose to the current position it holds in August 2023.
Not many of the newcomers into the cryptocurrency space remember how Shiba Inu emerged. In fact, the currency became possible thanks to its ongoing competition with another major cryptocurrency – Dogecoin. Much like its spiritual influencer, Shiba Inu is inspired by a dog, both of which are the absolute favorites of their real-world patron – Elon Musk. There is a likelihood that both of these accessible and simple-to-use cryptocurrencies will become the native internal payment assets for the emerging social network that the digital guru is promising to launch in the near future. But regardless of the future, we must think of the now and look at how much is Shiba Inu at the moment to determine its profitability.
1 Million Shiba to Naira – The Steps
The Nigerian Naira NGN currency is not one of the best currencies in the world, because it has been troubled by national inflation and a slew of financial crises over the past few years. The pandemic also did a lot to erode the people’s confidence in Naira, pushing them to resort to USD and cryptocurrencies. That is why such heavyweights as Ethereum and BTC are gaining popularity in Nigeria. However, few Nigerians can afford to buy BTC to cover their needs for everyday operations or for investments. This is where the popularity of other, token-based investments comes into play.
But if you find yourself in a position when you need money and if you are planning to convert Shib to NGN, then the first step will be to sign up to a cryptocurrency exchange. Users should be careful about which cryptocurrency exchange to resort to, since most have their own conversion rates.
The next step will be to determine how much Shib you wish to convert and set the amount in the selection bar in the interface of the exchange. Once that is done, all you need to do is connect your gateway method and convert the assets to have them transferred to your bank account.
Key Takeaways
If you are converting 1 million Shiba to Naira, then always pay attention to the exchange rate of the asset and make sure that you pick the best moment to do it for the best profit.
