I’ve been talking too much about bitcoins and other cryptocurrencies recently, blame me not. The fact that it was mentioned earlier that investing in bitcoins and other cryptocurrencies is not advisable, doesn’t actually give the online hustle a death sentence. There are people who still make money online in Nigeria using cryptocurrencies, just understand that for every internet business, and even businesses in general, there is always a bad side.
I would have kicked off by giving some detailed introduction to Bitcoins, but right now, I am moving with some Ferrari speed and avoiding unnecessary details as much as possible. If you want to know some details about bitcoins, check previous posts. I have listed below, some 5 of the most important factors of bitcoins, in Nigeria.
Quick one, here is a reference, if you want to learn cryptocurrency investments in Nigeria.
#1 BITCOIN IS RELATED TO NAIRA
First off, Bitcoin can be likened to Naira in many instances. Starting from having a bitcoin wallet which is more like a Nigerian bank account, to an easy and secure means of saving and transacting money. It should be noted that Bitcoin is a currency on its own, which can be purchased from local Bitcoin exchange platforms like Cardtonic, NairaEX and Remitano NG and can be used identically as naira, be it sending or receiving. It has a general framework that allows keeping track of transactions and at the same time increase the transparency of bitcoin transactions, knowing where, when and how much of your money went out, that is Blockchain.
#2 BITCOIN IS A BETTER INVESTMENT OPTION WHEN COMPARED TO NAIRA
Bitcoin price is genuinely steady and dependable for consumers. Holding esteem is a key element while picking whether to invest or hold Bitcoin as when you contrast it with the Naira, Bitcoin is a great deal more steady with a strong conversion standard so people who store in large quantity are probably not going to see a crash in value while Naira enthusiasts are just powerless to political developments and product value changes.
However, people who make money online trading Bitcoin are especially on the winning end as with various trades you can purchase bitcoins efficiently at a cheap rate and sell for higher prices in a matter of minutes. Also, making use of Bitcoin will likewise enable you to dig into exchanging other alternative crypto coins which are a great deal more unpredictable however reflect Bitcoin as far as the economy is concerned.
#3 GETTING A BITCOIN WALLET IS EASIER THAN OPEN A NIGERIAN BANK ACCOUNT
Web-based bitcoin wallets, for example, Blockchain.info have turned out to be famous lightweight contrasting options to downloading the entire Bitcoin application core. On opening the Blockchain.info site, the “Create Wallet” button is quite obvious. Within a couple of minutes through the guided process, you can select your own password and you are already welcomed by the dashboard which demonstrates all incoming and outgoing exchanges and in addition, your wallet balance. This is very contrary to opening a bank account in Nigeria, you need no utility bill or some ugly passport photograph in this case!
#4 YOU CAN BUY/SELL BITCOINS WITH NAIRA – WHERE TO BUY/SELL BITCOINS IN NIGERIA?
There are several places to buy bitcoins in Nigeria, ranging from peer to peer to web platforms, it all depends on choice. You might want to consider peer to peer Bitcoin exchange platforms with escrow services, maybe Remitano NG, Paxful or Localbitcoins, you are quite safe on there and they have good rates. You can also consider, best site to sell bitcoins – Cardtonic, they have been given the best attribution when it comes to bitcoin exchange.
#5 BITCOIN IS USED FOR A LOT MORE STUFF THAN YOU KNOW
Since bitcoin is accepted worldwide, one of its best purposes is to make an international payment. It can also be used for a host of other things, buying jewelry, paying bills, and complete remittances. I must also mention, you can integrate bitcoin payment option on your website to receive payment from customers. Do not forget that you can also make money online in Nigeria trading bitcoins.
So, there you have them, 5 Of The Most Important Things To Know About Bitcoins In Nigeria.
Don’t forget to share this.