FAQs

What is Bitcoin and how does it work?

Bitcoin was invented in 2008 as a peer-to-peer payment system for online transactions. Unlike any prior payment system, Bitcoin is revolutionary, it is not controlled by any central authority, government or financial entity that issues new money or tracks transactions. Instead of a central authority, the Bitcoin transaction network consists of computers around the world running the Bitcoin software, which operates the protocol for confirming the Bitcoin transactions. That software can be downloaded and run by anyone, and any computer running the software can join the network. Each computer on the network also maintains a copy of the universal public ledger known as the "blockchain".

What is SenexPay?

Senexpay provides secure and reliable Bitcoin exchange services for users to buy and sell Bitcoin using Naira, Rands and Dirhams.

Is SenexPay safe to use ?

The platform is built with the latest industry security standards incorporated. SenexPay doesn't store customers funds for safekeeping, instead we transfer it to the destination the customer provided when placing the order as soon as the trade has been completed. Since we don't store your funds, we advise you to undertake some of the below-mentioned measures to keep your wallet safe: use the official wallet to store your currency - always use certified antivirus software double check your Bitcoin address (when placing an order or making a transaction) make sure that NO ONE except you can access the computer where your wallets and passwords are stored. Remember that the safety of your funds after withdrawing them from our platform is dependent solely on you.

How can I start trading with SenexPay?

It is not necessary to have any special skills or experience to start trading with SenexPay. We have made the trading process as functional and as simple as possible so that anyone can master it. The first step is to create a new user account, then place an order and make payment.

What are the exchange rates?

Live exchange rates for buying and selling are based on the value of 1 Bitcoin in Naira. The estimated exchange rate of $1 to Naira is also displayed on the front page.

How does SenexPay determine the Bitcoin price?

SenexPay uses average market rates from several different exchanges to calculate the price of Bitcoin in USD which is then multiplied by the Naira/USD exchange rate. This trading guide will walk you through the process of buying and selling Bitcoins at SenexPay - the best Bitcoin exchange in Nigeria.