He/she in turn can convert the bitcoins to his/her local currency. Your local currency is converted to bitcoins while the seller receives the money converted in bitcoins. For example, you can purchase a service in another country without the excesses of the money transfer operators. Bitcoin exchanges permits users all over the world to convert any currency into and out of Bitcoin. Making Payments Abroad: The constant increase of transfer fees in Africa is a good reason to switch to bitcoins. More sites have enabled trading, making it easier and faster to use. Trading in bitcoins involves buying at a low cost and selling when the price is gone up. The rate at which bitcoins grow as the Nigerian market fluctuates gives a right choice for a good investment. Bitcoin has given an impressive increase as the year goes by. Unlike investing in foreign currencies, bitcoin is a digital currency that is not affected by central bank policies and other governmental agendas. Transacting with the bitcoins is one the fastest ways to do transactions in Nigeria. Trading Bitcoins: Bitcoins is the new money. Given methods on how to trade bitcoin in Nigeria are: A good example is the NairaEx website where you can pay as little as $10 worth of bitcoin without no extra fees.Īfter purchasing bitcoins, the next step is to find means to tap resources from this digital movement.buy bitcoin in Nigeria You can buy your first set of bitcoins from trustworthy stores or sites around you. Your bitcoin wallet will generate a bitcoin address which you can share with future buyers or sellers of bitcoin. The simple steps below show how to buy bitcoins in Nigeria:įirst, you will need to install a bitcoin wallet on your device where you receive, send, and spend bitcoin for transactions. This reveals that bitcoin is becoming a store value of multiple returns. Recent times have shown that the bitcoins are now nearly three times higher in price than an ounce of gold. The constant failure of Nigeria cards in other countries has made the bitcoins a viable substitute. Since Bitcoins have surpassed the traditional money exchange as its global acceptance keep growing all over the world discovering how to buy bitcoins in Nigeria has been a concern for potential investors. With the current shortage of dollar in the country, bitcoins have largely penetrated the Nigeria market.
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