Current Paypal Exchange Rate in Nigeria up to 515/$

Paypal is one of the most widely used mobile wallets in the world, with millions of users relying on it for their financial transactions. According to a recent report by emarketer, the number of PayPal users is expected to reach 209.3 million in 2022, surpassing 200 million for the first time. This represents a 7.2% annual increase from the previous year, showing the growing popularity of PayPal as a payment method.

For freelancers, web designers, and digital marketers working in Nigeria, PayPal is often the preferred method of receiving payments. Many affiliate programs also opt to pay their affiliates in dollars via PayPal, making it a crucial tool for online business. Moreover, if you have friends or family members abroad who wish to send you funds, PayPal is often the most convenient and secure option for them.

Paypal also offers a number of interesting features that set it apart from other mobile wallets. For example, it has a robust security system in place, with multiple layers of protection to keep your funds and personal information safe. Additionally, PayPal offers a seamless and straightforward way to exchange currencies, making it easy for you to receive and spend funds in your preferred currency.

Another interesting aspect of PayPal is its integration with a range of online platforms and services. You can use PayPal to make purchases on e-commerce websites, book travel arrangements, and even send money to friends and family with just a few clicks. Additionally, PayPal has a mobile app that allows you to manage your account and make transactions on the go, making it even more convenient and accessible.

PayPal is a versatile and user-friendly mobile wallet that has revolutionized the way people send and receive money. With millions of users worldwide, it's not hard to see why PayPal is one of the most popular and trusted financial tools on the market today.

Get a Paypal account you can use to send & receive over $10,000 in Nigeria Now!

Before we go ahead, let’s check out the frequently asked questions about PayPal transactions in Nigeria.

What is the most preferable Nigerian bank card?

Based on experience, the best two bank cards are the UBA Afri Dollar-Dominated and UBA Afri Naira-Dominated. The First Bank Dollar Card is also a viable option, but UBA Dollar Card is more preferable. I Prefer the UBA Dollar Dominated card as it offers the best exchange rate for Naira.

PayPal Exchange Rate Nigeria: Dollar to Naira

The current PayPal exchange rate from Dollar to Naira using the local bank is ₦420/$. The rate goes up to ₦450 with local exchangers, and the best rate is upto ₦515/$ when you Exchange with Joshua Ken. 

Note: Trust is really important when exchanging with Vendors, especially those with a ridiculously high rate.

Exchanging and Sending Money from PayPal to Naira Bank Account

To send and Exchange PayPal to Naira, you have three options: using the local bank rate, using online exchangers, or Exchanging with Joshua Ken at a higher exchange rate.

Option 1: Sending PayPal Money to Local Bank

The first option is to transfer funds from your PayPal account balance to your linked Nigerian bank card, then to your local bank account. This option is time-consuming, as the exchange rate is low, and you will have to set up all the transaction processes.

Pros:

• Deals directly with the local bank
• Gets paid in Naira

Cons:

• Not all banks process PayPal card funds
• Time-consuming to set up transactions
• Low exchange rate
• Payments can take 2 to 7 days or more
• Not all local bank cards can process PayPal to Naira payment

Option 2: Sending PayPal Money to Local Exchangers

The second option is to transfer funds from your PayPal balance to a local Nigerian Exchanger. This option is also subject to a low exchange rate and can take 1 to 7 days or more for payment.

Pros:

• Gets paid in Naira
• Customer support available
• Payments can be fast

Cons:

• Scammers are prevalent
• Not all local exchangers can process PayPal to Naira payments
• Low PayPal Dollar to Naira exchange rate
• Time-consuming to identify a good and trusted exchanger

Option 3. Exchange PayPal Funds to Naira with Joshua Ken

This is considered the best and fastest method for transferring money from PayPal to Naira. To use this option, you send a message to Joshua ken on WhatsApp using this link HERE, you get an address where you will send funds and receive the equivalent in Naira. This method will give you access to the highest exchange rate, which is up to ₦515/$.

Pros of Using Joshua Ken to Exchange PayPal Funds for Naira:

• The exchange rate is high and favorable compared to other options.
• The process takes less than 2hr to be credited.
• You can exchange with Joshua ken from anywhere in the world, making it a great option for those outside Nigeria.
• The process is secure, and Joshua ken has a track record of reliability and trustworthiness.

Cons of Using Joshua ken to Exchange PayPal Funds for Naira:

• Joshua Ken only exchanges for the Gig economy i.e For freelancers, web designers, and digital marketers
• You will need to verify proof of funds on the first 3 transactions to confirm you are a freelancer, web designer, or digital marketer

In conclusion, the best and fastest method for transferring money from PayPal to Naira is exchanging with Joshua Ken. It provides a high exchange rate and is fast, secure, and reliable. However, if this option is not feasible, users can opt for either sending funds to their local bank or to local exchangers, but these options come with lower exchange rates and longer processing times.