How is the hotel going to adopt bitcoin if banks there aren't allowed to deal with crypto currency? Even the hotel holding 50% of their reserves in btc, they will need to convert bitcoin somehow sooner or later, and when the time comes they will need an exchange and will have to use a bank account as well. Or Nigeria government's position towards bitcoin is changing very fast or this hotel is going to have issues with the law.
Topic: George Residence becomes first hotel to accept Bitcoin in Nigeria - page 3. (Read 430 times)
April 26, 2021, 03:05:28 PM
April 26, 2021, 02:48:40 PM
This is a good step forward, and if this is a chain of hotels then the acceptance will easily reach the common people. Already Nigeria is a country where people are much into cryptocurrency, but many get into the hands of scams. First of all good awareness is a must for the people to differentiate the legit ones and the scam.
However with the increased transaction fee initially the hotel won't receive more payments settled with bitcoin. However the initial step laid will make a change.
Any news of adoption and integration is always good even though the fees at the moment is very high but at least they have considered on adding or accepting bitcoin into their business However with the increased transaction fee initially the hotel won't receive more payments settled with bitcoin. However the initial step laid will make a change.
which is a good thing and as mentioned that any acceptance news or events is always been considered to be a good stuff. Adoption is on the move and it wouldnt be a surprising thing
if things like these on other countries would happen as well but that would always vary if crypto is really on the positive side on that particular country but if not then expect
on what would be next.
April 26, 2021, 02:33:08 PM
This is a good step forward, and if this is a chain of hotels then the acceptance will easily reach the common people. Already Nigeria is a country where people are much into cryptocurrency, but many get into the hands of scams. First of all good awareness is a must for the people to differentiate the legit ones and the scam.
However with the increased transaction fee initially the hotel won't receive more payments settled with bitcoin. However the initial step laid will make a change.
However with the increased transaction fee initially the hotel won't receive more payments settled with bitcoin. However the initial step laid will make a change.
April 26, 2021, 02:31:48 PM
This is a welcomed development in the history of Nigeria and for the Nigerian people and bitcoin community. It might as well be the center of a new world for the Nigerian crypto enthusiast. This tells how backward the government of Nigeria in its CBN ban had decided to place the nation a while ago. Bitcoin is the future and in order for Nigeria and Nigerians not to be left out in this development, they ought to encourage and promote developments such as these through fair and just policies.
Products and services in that hotel are going to be sort out for and paid for in full using the most convenient means and in that means, the citizen has bought Nigeria and in turn, adds to the Nigerian economy as these goods are readily taxable and so is the hotel. This is a good one.
Products and services in that hotel are going to be sort out for and paid for in full using the most convenient means and in that means, the citizen has bought Nigeria and in turn, adds to the Nigerian economy as these goods are readily taxable and so is the hotel. This is a good one.
April 26, 2021, 02:16:32 PM
I can not say companies in Nigeria are dawning to know about Bitcoin, but that this initiation can be the beginning of hotels and many other companies in Nigeria starting to get involved in bitcoins usage as reserves and as a form of payment methods. This hotel located in Lekki, in Lagos State will be the first of its kind to make a decision of moving towards accepting bitcoin as a form of payment and as the hotel's major reserve.
I am thinking this is just the beginning of hotels in Nigeria to beggining to accept Bitcoin as a form of payment, and as a reserved asset.
George Residence, a frontline player in the hospitality sector, has announced its decision to adopt Bitcoin as its primary reserve as well as a form of payment.
George Residence is a luxury shortlet which came to the forefront of the Nigerian hospitality industry in 2020. Chief Executive Officer CEO, ‘Yanju George, made the announcement in a statement released to the media. Further, he disclosed that the decision to make Bitcoin their primary reserve asset is to hedge against fiat inflation.
‘‘We have allocated around 50% of our cash reserves to Bitcoin…We hope to increase that as time goes on,’’ he revealed. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.
“Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer. Our residents desire simplicity, and we are excited to be able to offer that to them,” the CEO had stated.
George Residence is a luxury shortlet which came to the forefront of the Nigerian hospitality industry in 2020. Chief Executive Officer CEO, ‘Yanju George, made the announcement in a statement released to the media. Further, he disclosed that the decision to make Bitcoin their primary reserve asset is to hedge against fiat inflation.
‘‘We have allocated around 50% of our cash reserves to Bitcoin…We hope to increase that as time goes on,’’ he revealed. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.
“Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer. Our residents desire simplicity, and we are excited to be able to offer that to them,” the CEO had stated.
I am thinking this is just the beginning of hotels in Nigeria to beggining to accept Bitcoin as a form of payment, and as a reserved asset.
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