Use bitcoin for in Nigeria: Bitcoin is a digital asset that operates on the crypto market. Essentially, Bitcoin is a cryptocurrency, and it is the biggest of the over 12000 cryptocurrencies on the crypto market. Unlike other digital assets, the functions of Bitcoin trump that of regular fiat currencies. Are you wondering what you can do with your Bitcoin? Follow through as we show you the five major benefits of owning a Bitcoin wallet.
use bitcoin for in Nigeria
If you have been looking for a way out of the excessive economical degradation that comes with traditional currency, cryptocurrency might be your way out. You might know what Bitcoin is and how to get it, but still, be left confused as to why you should care about getting some. The Unique features that Bitcoin offers might bring you to your resting place from all the economical ups and downs in Nigeria.
Things You Can Use Bitcoin for in Nigeria?
- Private Spending: One of the best advantages of using Bitcoin is that you can spend money anonymously. Spending Bitcoin cannot be traced to a user’s real-world identity, as members are only Identified by Public keys. If you have been looking for a way to free yourself from the burden of Identity publication, Bitcoin offers you a good level of privacy that traditional payment systems fail to do. This attribute comes in handy when you do not want a link back to your real-world identity. What happens in the crypto world stays in the crypto market. Although this feature exposes Bitcoin to potential criminal and unethical usage. It could also provide criminals with an avenue to launder money without getting caught. Hence, the catch here is to get your trading straight with the right guys. Trade with reliable individuals and crypto exchange platforms to avoid crypto fraud and loss of funds.
- Bitcoin Investment: Many crypto lords have their largest investment portfolios in Bitcoin. Although there are irregularities in the market, a good understanding of the crypto market trends and indicators can guarantee overall wealth multiplication and long-term wealth sustenance. Regardless of what you do, Bitcoin is a digital currency capable of making you rich when you understand its workings. The norm is to buy the “deep” or buy when the price of Bitcoin falls and hold on to it till the market experiences a BULL run. This strategy is only one of the many techniques traders explore to profit from trading cryptocurrency.
- Fast and reliable payment: The Bitcoin protocol offers a faster and more reliable payment system. It is about 99.99% sure that funds transferred on the Bitcoin network will deliver. The speed and security on the Bitcoin network promise a 100% uptime and have not failed to deliver for years now. Unlike the reports we have from traditional Internet banking, Bitcoin transactions do not have downtimes and follow a very secure protocol that makes it impossible to have delayed payments. So, if you are looking for a way out of the slow movement of funds, get a Bitcoin wallet.
- Next to Zero Cost on Money Transfer: We all know how Nigerian commercial banks plague bank accounts with a series of charges. From transfer fees to stamp duties, ATM maintenance fees, account maintenance fees, and more. With Bitcoin trading, one can easily evade all of these charges. Although different exchanges and wallet apps charge a little “gas fee” for moving coins from one wallet to another. Other payment channels like PayPal, Payoneer, and more are often big on the charges for their service.
- Store of value: If you are looking for somewhere to store some extra cash in Nigeria, investing in crypto could be your pathway to quality savings. Not only can storing funds in Bitcoin maintain the value of your money but also potentially increase funds. However, the process must be properly managed to get the best outcome possible. Additionally, most financial service solutions require a lot of IDs to create an account before transacting. Whereas, creating a Bitcoin wallet and starting transactions could happen in a minute.
Sell crypto for cash in Nigeria
Considering the restrictions placed on trading crypto in Nigeria, it is almost impossible not to need a platform that helps get crypto funds to local bank accounts. Dart Africa is the best crypto exchange platform that provides fast and easy crypto-to-naira exchange. If you would like to learn more about how Dart Africa works, contact our 24/7 customer support or read the FAQs and blog posts on Dartafrica.io. To check rates for trading coins per time, follow the steps below:
- Visit dartafrica.io and click on “check rates” or enter dartafrica.io/coincalculator directly.
- Select the coin type and proceed to enter the amount in USD or quantity.
- The exchange rate in Nigerian naira (NGN) and Ghanaian cedis (GHS) will display immediately.
Happy Bitcoin Trading!