Topic: BITCOIN THE NEW CURRENCY EVERYONE SHOULD ADOPT IN NIGERIA (Read 69 times)
Please don't misquote me out of context and call my post a low quality post , the point I was trying to make in my post is the fact that Bitcoin has penetrated the Nigerian audience and it use has fast gain acceptance. I don't mean that Bitcoin is a physical currency that Nigerian should use in their daily business but I was only making a point that Bitcoin should be used often.
Bitcoin as a crypto currency has fast gain acceptance in the Nigerian market as it's hardly a place you go to that people don't talk about it, as it's use is ever increasing and awareness level is very high that today people now buy sell their business in Bitcoin. This make me to think that Bitcoin should be officially accepted as a currency in Nigeria, here are some important benefits that Bitcoin can offer our Economy
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
I do not understand why anyone would respond to such a low-quality post, there is already more posts on it than i expected and on the second note, Bitcoin is not a NEW currency and neither is Bitcoin a Currency and lastly Bitcoin like other tradeable assets are determined by market movement, trends and events. we appreaciate new topics and discussion on the board, but if you must create one put a little efforts into it. the better your topics, the faster you grow in rank here.
BITCOIN THE NEW CURRENCY EVERYONE SHOULD ADOPT IN NIGERIA
Bitcoin was introduced in late 2008 and created in early 2009. It is not what can be called new anymore. It is now more than a decade ago when it was created.Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
Dollar kept depreciating for years. If the price of dollar remain constant, bitcoin will still be around $60000 or less but as the dollar also depreciate in value, it make the price of bitcoin to increase. 
Bitcoin as a crypto currency has fast gain acceptance in the Nigerian market as it's hardly a place you go to that people don't talk about it, as it's use is ever increasing and awareness level is very high that today people now buy sell their business in Bitcoin. This make me to think that Bitcoin should be officially accepted as a currency in Nigeria, here are some important benefits that Bitcoin can offer our Economy
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
No need of dragging Bitcoin towards where it's yet to be, i know for sure that many people are beginning to talk about it, with numbers of involvement but there hasn't been a solid participation focused on the local markets, even some super market and stores are even yet to take Bitcoin as a prefered means of payment less of local business that are majorly operated by old age people who do not have any short insight about Bitcoin. ____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
When it comes to international transactions, i totally recommend it for most business people who trade on large sums of money. Going to the bank and through different process can just be managed at home and privately without any external interference. Business people are lately targets in the process of taking money to the bank, staying indoors while carrying out such transactions is far better and stressful compared, one thing is to also maintain privacy and not say much out to people concerning all transactions made.
I no sure say Nigeria government go gree accept bitcoin legal tender as legal. Central Republic of Africa been don make bitcoin legal tender for their country but as you know Nigeria government never shake body. Instead na wahala them dey won give people way dey use crypto. I no go call Nigeria say na crypto friendly country even though our people dey use am well well, our government policies no dey favor bitcoin. The government way accuse forex traders and p2p traders say na them dey make naira fall, na the same government you think say go make bitcoin legal tender?
Bitcoin as a crypto currency has fast gain acceptance in the Nigerian market as it's hardly a place you go to that people don't talk about it, as it's use is ever increasing and awareness level is very high that today people now buy sell their business in Bitcoin. This make me to think that Bitcoin should be officially accepted as a currency in Nigeria,
No disrespect, but i totally disagree that bitcoin has fast gained acceptance into the Nigerian market. What are the data's to back this claim. In a country where the government creates restriction on absolutely everything related to cryptocurrency transactions and use how can same gain fast acceptance in same environment. However, this doesn't disregard that fact that many persons in Nigeria are nicodemusly making use of crypto especially bitcoin. Perhaps when the government revises their stand on cryptocurrency in the country then that fast track acceptance in all ramifications would be achieved just as it is in El Salvador where bitcoin is officially a legal tender.____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
E no dey work like that, you can only use a currency as a tool for international trade if the other nations you trade with are willing to accept it, i don't think any country will be willing to accept bitcoin as currency for international trade, except countries that are heavily sanctioned. USD is the official currency for international trade and the world's reserve currency, most of the world trade in the USD and they also build up their dollar reserves that way.Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
Bitcoin as a crypto currency has fast gain acceptance in the Nigerian market as it's hardly a place you go to that people don't talk about it, as it's use is ever increasing and awareness level is very high that today people now buy sell their business in Bitcoin. This make me to think that Bitcoin should be officially accepted as a currency in Nigeria, here are some important benefits that Bitcoin can offer our Economy
you're talking about making local transaction with Bitcoin as a norm in Nigeria? Has the level of acceptance gotten to this Extent? We all know that a lot of people are familiar with Bitcoin and that the number of active users is much but to say that businesses have started accepting Bitcoin locally seems to be far from the truth.For me, as long as regulations doesn't hamper it use globally, thier is no need for it to be accepted locally iether as a replacement to the fiat or anything close to that.
Note that Bitcoin is backed up by the dollar and that it can't become a replacement to the naira so what that means is that if we're considering the acceptance you're talking of, we would be still faced with the exchange rate issue because for you to buy Bitcoin, you first need to buy the USDT which is already too expensive relative to the Naira.
The current state of the market where you have Naira, USDT and Bitcoin all in isolation in some way is actually good and if not that our government are trying to over interfair. these all makes provision for our finacial landscape such that you're not confined to using just a single methord but can make use of iether naira, USDT or Bitcoin depending on the kind of transaction you intend doing.
I no know if you know oh, but na only for El Salvador wey bitcoin be legal tender/official currency, that is enough to tell you that most governments around the world have no interest in making bitcoin a legal tender, and the Nigerian government is inclusive.
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
E no dey work like that, you can only use a currency as a tool for international trade if the other nations you trade with are willing to accept it, i don't think any country will be willing to accept bitcoin as currency for international trade, except countries that are heavily sanctioned. USD is the official currency for international trade and the world's reserve currency, most of the world trade in the USD and they also build up their dollar reserves that way. Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
Bitcoin as a crypto currency has fast gain acceptance in the Nigerian market as it's hardly a place you go to that people don't talk about it, as it's use is ever increasing and awareness level is very high that today people now buy sell their business in Bitcoin. This make me to think that Bitcoin should be officially accepted as a currency in Nigeria, here are some important benefits that Bitcoin can offer our Economy
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
____Bitcoin help ease international transactions
Bitcoin will help bridge the gap when it comes to sending and receiving money between two country as it does not need a meddle man such as banks to send and receive money
____ High value
Bitcoin is not our naira that is always devalued and controlled by market forces in the international market as it's value is not even affected by the united state dollar
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