EXPLORING THE RISE OF BITCOIN IN NIGERIA

Over the recent years Bitcoin has become more popular in Nigeria. It’s good to see that the CBN is exploring options for its use in Nigeria. A study group has been created to weigh the advantages of adopting the coin.

Bitcoin offers a new financial freedom for people in Nigeria. for instance , Nigeria can enjoy access to a global  market, ecommerce and low cost remittance when they tap into Bitcoin.

Cryptocurrency has risen in popularity around the world because it offers an open access, decentralized economy. Bitcoin value reached a new all-time high of $6,200 last week, pushing its market cap to $102.8 billion and giving the booming cryptocurrency market edge over traditional investment.

“If you bought $100 of Bitcoin 7 years ago,you would be worth $140million today”

With this in mind, platforms such as Satowallet have taken advantage of this amazing benefit. Users can exchange Naira and Bitcoin, Enjoy same day funding and withdrawals, and more. Since the service is designed to be quick, users can enjoy quick turnarounds on transactions. This means that users can use Bitcoin confidently despite market fluctuations. Satowallet ensures that exchange rates are set at the time of the transaction.

The emergence of Crypto currencies like Bitcoin, Abjcoin and others in Nigeria will forever change the economy by opening new doors for people everywhere.

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