Advantages Of Using Bitcoin As A Means Of Payment In Nigeria

Bitcoin is an international electronic currency. This is a new form of money created on the basis of the program code.

Bitcoin is not owned by any state, companies or individuals.

Due to this, Bitcoin has become the world’s first decentralized means of payment. Money transfers are made on the peer-to-peer principle — without intermediaries between the sender and the recipient.

Bitcoin advantages:

  1. High safety level

No one can block a Bitcoin wallet. Bitcoin does not depend on central banks, local and international laws, religion and other things.

Banks and the government do not control your bitcoins — they are only available to you. The wallet is created anonymously. Cryptocurrency cannot be faked, and payments cannot be cancelled.

  1. Cheap transactions anywhere in the world

Transfer fees do not depend on the amount or location. They make up less than US$1 (regardless of the amount). You can transfer money to anyone from anywhere in the world.

  1. Convenience

Unlike bank transactions, bitcoin transactions may be carried out on a 24/7 basis. You can decide independently when to transfer money.

  1. Instant transfers

Bank transfers take 3–5 working days on average. The speed of transfers via Bitcoin is a few seconds, or, when you are dealing with large amounts of money, — 10–60 minutes.

  1. Protection against inflation

National currencies depreciate annually by 1–20 % (sometimes more). Bitcoin is backed by a limited number of units (21 million) and protected against inflation.

Cryptocurrency is becoming more and more popular, since people do not spend money on fees and instantly exchange money. In the future, the world national currencies will be merged in a single digital Bitcoin currency! MMM and Bitcoin have a similar vision: they strive to overthrow social inequality, free people from the banks’ oppression and make the world a more just place.

 

 

Valentine
Connect @

Valentine

Founder at WeUseNaira Blog
Val is a passionate blogger, digital marketer and a pro web developer. He's a tech enthusiast, lover of craft and Freelance coach +2348066538123
Valentine
Connect @

About the author

Valentine

Val is a passionate blogger, digital marketer and a pro web developer. He's a tech enthusiast, lover of craft and Freelance coach +2348066538123

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