Things you need to Know about Bitcoin Wallet in Nigeria

In some cases, some questions that come to your mind has already been solved, can lead you deciding if the digital currency can meet up your demands. In many ways, Bitcoin can be compared to the naira on many levels. Bitcoin wallet also stands as a bank account loaded with naira, allows for comfortable but very secure access to your money on demand, Aforementioned, bitcoin currency stand on it own which you can fund your account from a local exchange such as NairaEx. It has incorporated the Blockchain which is a framework giving you access to keep track your transactions and increasing the overall transparency as you know exactly where your money went and also the amount.

5 things you need to Know about Bitcoin Wallet in Nigeria

The Bitcoin Price?

You can still invest in Bitcoin, is relatively stable and very reliable. When choosing a to invest in any cryptocurrency, Holding value is a key factor compare to naira. Bitcoin is much more stable with a dependable exchange rate, so long-term holders are unlikely to see a crash in value while Naira users are particularly susceptible to political movements and commodity price changes.

Related: 3commas: The Smart Cryptocurrency Trading Bot

However for investors shorting Bitcoin is particularly beneficial as with some exchanges you can buy cheaply and sell at a high price(to make more profit) within a matter of minutes as exchanges such as NairaEX, they offer some of the most competitive rates on Bitcoin. Buying Bitcoin will also let you delve into trading alternative cryptocoins which are much more volatile but mirror Bitcoin regarding the economy.

5 things you need to Know about Bitcoin Wallet in Nigeria

How to get a Bitcoin wallet?

Aforementioned above, registering for Bitcoin wallet is very easy and straightforward when doing that on the web. Web wallets such as is now a popular lightweight alternative to downloading the whole Bitcoin application core.

While on website, locate “create a new wallet” at the top of the site, in some minutes through this guided prices you can choose your password and eventually greeted by the dashboard which displayed all incoming and outgoing transactions including your balance.

Related: 5 Ways To Make Money with Bitcoin In Nigeria

Where to buy Bitcoin in Nigeria?

You can buy Bitcoin from any user bitcoin users( peer to peer) around Nigeria, But, for security purpose and a premium rate for you in naira, NairaEx is recommended as the best exchange in Nigeria currently offering unbeatable rates on your Naira when converting. Their service is great in Nigeria.

What to use Bitcoin for.

Seriously, bitcoin has gone far; it can be used for purchasing jewelry, paying bills online and most importantly to complete remittances. Remittances through Bitcoin have become a talking point as due to their fast and cheap nature Bitcoin transactions can safely transfer your money abroad at under 200 Naira. The NairaEx exchange allows for integrated remittance competition, which you can directly send Naira as Bitcoin abroad and also receive Bitcoin as Naira within a matter of days to your bank account through the NairaEx service.

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