If you’re looking to buy dollars locally with Naira currency from the black market to deposit it into your domiciliary account, you’ll find this guide helpful.
I recently published the two best ways to buy dollars or USDT with Naira, from the local black market or Binance. And, I got a bunch of requests about how to buy dollars with naira via the black market.
Therefore, this wiki freelancing guide will show you how to buy dollars as cash with Naira and create a domiciliary account to deposit your dollars safely.
[ads]Why you should buy dollars or USDT with Naira
The primary aim of buying or converting your Naira currency into dollars is to stomp out the financial detriment of Dollar increase against the Naira currency.
Of course, you probably noticed the significant spike in Dollar a couple of weeks ago, and you’ll agree with me that it’s time you take the plunge since Naira has continued to lose value, right? In fact, there’s a strong likelihood that Naira will continue to fall until maybeeee 2023 when Peter Obi becomes the president, which is very possible.
It simply means that when Dollar gains value against Naira, the total amount of Naira you have devalues. And this has prompted most Nigerians to make the smart move.
How to buy Dollar with Naira from Black Market
The first step of buying your dollars via cash is locating any black market around your vicinity.
For Nigerians, there is always a joint in every state where you can buy your dollars from the black market or Aboki. For example, Rivers state residents can check along the Rumuola axis, and Imolites can locate them at the popular Ama Awusa along Douglas Road, Owerri.
[ads]Check for counterfeit when buying dollars from black market
Let’s say you’ve got a place to buy your dollars as cash. During the transaction, you must be vigilant and check the dollars thoroughly to ensure none of them is counterfeit.
And if you don’t know how to check out for counterfeit, you’ll have to check the watermark on the dollar and the border and thread to see that they are not fake.
Then, proceed to deposit it to your domiciliary account. However, I recommend you deposit it the same day of purchase, just so you can easily take action if there’s a problem.
How to create a Nigerian domiciliary account
To create a Nigerian domiciliary account, you can go to any bank of your choice, fill out the forms, and it will be created in a couple of weeks.
[ads]5 Documents you need to create a Nigerian domiciliary account
- ID Card (Voter’s card, Driver’s license, NIN slip, or National ID Card)
- 2 Passport photographs
- Nepa Bill (dated not less than 3 months ago)
- 2 reference forms from Dom or Current users
- 100 dollars (100 USD currency)
For a greater understanding of how a Domiciliary Account works, read this article on ‘everything you need to know about domiciliary account; types, limitations, requirements, how to fund and withdraw from your domiciliary account.
» MORE: How To Link Your Domiciliary Account to Payoneer To Withdraw Dollar Funds
Develop the money-making mindset
I would like to share the story of a beautiful, dressy lady I met on the bus last week and her reactions when the dollar issue was brought up.
A few weeks ago, I was traveling from Enugu to Abuja with a public ABC sprinter, and the issue of the Naira and Dollar stuff was raised. And while most passengers were devasted and considering having their naira saved as dollar, one beautiful young lady made a comment that struck my heart.
She asked: “No be person wey get money de save or buy dollar”?
[ads]Everybody burst into laughter except me because I perfectly understand how the girl felt at that moment.
I’m sharing this story because it’s possible for some people to ask the same question. And this is why it’s important to start considering earning in dollars instead of naira from the comfort of your home through freelancing, affiliate marketing, and other side hustles.
» MORE: How To Make 6-figure Income With Amazon Publishing – Secret To Success
How to start earning in Dollars instead of Naira
Apart from buying dollars or USDT, you can also decide to start earning in dollars as a freelancer, affiliate marketer, or other side hustles, instead of earning in Naira. And this is what everybody can do, including you.
See all the basic requirements you need to start freelancing to start earning in dollars instead on Naira.
» MORE: 5 Important Things You Need To Start Freelancing
[ads]How to sell USDT to buy Dollars and save in Domiciliary account
For one of my YouTube subscribers, Emmanuel Tennyson, and others who have fervently asked how they can sell their USDT to buy dollar and save it in their domiciliary accounts, the solution is super simple.
So, if you’ve got your USDT on Binance, you can sell it via P2P at a higher rate, use the Naira to buy dollars from the black market, and then deposit it into your domiciliary account.
One of the upcoming wiki freelancing guides will show you how to buy USDT at a lower rate and sell it via P2P at a higher rate.
» MORE: 63 Fantastic Reasons To You Should Start Freelancing Today
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