At iDeyPay, sell trade ad is an advertisement that lets other users know you are willing to sell bitcoin. Trading in iDeyPay marketplace is secure and instant. This means that your Naira Wallet is credited instantly after peer-to-peer trades.
Coins are escrowed – During a trade, the coins are held in escrow and only released when payment has been confirmed.
You need to have bitcoin in your Bitcoin Wallet to create a sell trade ad.
You can learn how to deposit bitcoin to your iDeyPay Bitcoin Wallet here.
To be able to trade peer-to-peer on iDeyPay, you need to have an iDeyPay account, you can learn how to create one here.
Click “Login” if you have an account already, or “Sign up” if you don’t have an iDeyPay account.
Once you’re signed in, click on the menu icon then select the option that says “Create an Ad“.
Choose the “Sell Bitcoin” option.
Select how you want to be paid. A list of your added bank accounts will be in the list with other options like Bank Transfer, Naira Wallet etc.
Each payment option serves it purpose:
Click ‘Dynamic‘ or ‘Static‘ to select the price type.
Dynamic price type is a feature that enables users to create trade ads at rates that change based on a drop or spike in the general price of bitcoin.With dynamic price type, we pull the bitcoin price from Blockchain API in USD and multiply it with the Naira exchange rate you set.
Static price type is a feature that enables users to create trade ads at a fixed Naira exchange rate per BTC which will never change.
Provide your Price Exchange Rate in Naira (selling price) based on dynamic price type OR Price per BTC based on the static price. For example: A dynamic price will be like 380 Naira/USD while a static price will be 2,500,623 Naira/BTC.
Your Price: Is the current price per BTC that appears. If dynamic, it will change based on the Blockchain’s API multiplied by USD Price Exchange Rate which you provided in the text field. If static, it will remain the same as the Price per BTC you inputted.
Set your minimum transaction limit and maximum transaction limit.
If you select Dynamic price type, you get the option to set your minimum price limit. This is optional, if you set this rate, no matter the bitcoin price drops, it will never go below the min. price limit you set.
After filling the form, Click “Submit”. If successful, you will be redirected to the trade ad page.