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WINFRED KWAO

2 months ago

HOW TO RECEIVE MONEY FROM THE US IN NIGERIA - CHEAP AND EASY

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Finance

2 months ago

In today's globalised world, receiving money from the US in Nigeria has become a common necessity. Whether you're a family member receiving support, a remote worker receiving payments, or a business engaging in international transactions, the need for a reliable, efficient, and cost-effective money transfer method is paramount.

In this article, we’ll provide a detailed guide on how to receive money from the US in Nigeria at a faster and cheaper rate while ensuring the security of your money.


Understanding Your Options

When it comes to receiving money from the US in Nigeria, several options are available, each with its own advantages and drawbacks. Understanding these differences is crucial to choosing the method that best suits your needs. Let's explore the three primary methods: traditional banking systems, online money transfer services, and digital currencies and platforms.

  1. Traditional Banking Systems
    Pros: Familiar and widely used.
    Cons: Often involve high fees and longer processing times.
  2. Online Money Transfer Services
    Pros: Faster than traditional banks, moderately easy to use.
    Cons: Characterised by high fees and unfavourable exchange rates
  3. Digital Currencies or Stable coins
    Pros: Low fees, fast transactions, accessible through smartphones or computers.
    Cons: Need for a secure and trusted platform to conduct transactions and a basic understanding of digital currencies. 

Why PYUSD is Your Best Alternative To Receive Money In The US

PYUSD stands for "Paypal USD," a stablecoin pegged to the US Dollar; that is, $1 equals 1 PYUSD. It was launched by the global payment service provider Paypal. PYUSD offers a unique opportunity to receive money from the US in Nigeria. 

Why Choose PYUSD?

PYUSD is a revolutionary approach to digital transactions, offering a blend of efficiency, security, and user-friendliness. You can receive money effortlessly from friends and family in the US by sharing your PYUSD wallet. As a freelancer or a business owner, you can also invoice your US clients in PYUSD for faster and more cost-effective transactions.

Low Fees: PYUSD minimises transaction costs significantly, ensuring that the value of your funds reaches its destination without being diminished by high fees.

Speed: PYUSD is engineered for rapid transaction processing, enabling almost instantaneous transfers. This transaction speed is a critical advantage in today's fast-paced world, where time is often of the essence.

Security: PYUSD employs state-of-the-art encryption and leverages blockchain technology, providing a secure transaction environment. 

Convenience: With its internet-based accessibility, PYUSD offers unparalleled convenience, allowing users to manage their transactions from anywhere in the world. 


How To Receive Money In The US With PYUSD On Yellow Card

With PYUSD, receiving money from the US in Nigeria is a breeze. This is because all the sender has to do is deposit funds into their Venmo via PayPal, purchase PYUSD, and transfer it to your PYUSD wallet -  Quick, easy, and secure.

However, you need a trusted exchange to help process the transaction. Yellow Card is the largest and only licensed on- and off-ramp for stable coins in Africa, providing a platform for sending and receiving PYUSD. In fact, Yellow Card is the first fintech on the African continent to launch PayPal USD (PYUSD).

Receiving PYUSD in Nigeria is easy and quick with Yellow Card, allowing you to easily complete transactions without needing any crypto experience. All you have to do is:

  • Sign up to open a free Yellow Card wallet
  • Share the details of their PYUSD wallet with the recipient in the US
  • Sell the PYUSD for naira
  • Withdraw naira into their bank account instantly. 

Yellow Card not only ensures the process is seamless but also ensures you get the best rates for selling your PYUSD for naira at no extra cost.


Conclusion

Receiving money from the US in Nigeria no longer needs to be expensive or stressful. With PYUSD, you can now receive money from the US as easily as it is completing local transactions. Yellow Card makes it even easier with its user-friendly platform and 24/7 customer service to guide you through the process.

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WINFRED KWAO

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