Support bitcoin as payment for goods and services in Nigeria 100 thousand businesses
Although bitcoin prices in the past 48 hours on the free fall of the scene, but the money is still very popular encryption. In Nigeria, bitcoin is supported by the majority of consumers and businesses. Although most people will bitcoin as an investment tool, but bitcoin is also a valuable tool for bypassing costly traditional remittance solutions. Bitcoin in Nigeria’s future looks bright.
And most African countries like Nigeria, there is a strong dependence on affordable money transfer service. Bitcoin provides a perfect solution in this aspect. Because of its global availability, bitcoin is often used for cross-border payments, and without paying outrageous fees. In addition, this encryption currency also is being used in online transactions.
Coins are on Nigeria’s appetite
Nigeria is currently suffering from economic problems contributed to the bitcoin demand in the country. According to previous reports, Nigeria bitcoin demand continued to rise, the price topped $1250 coins. The country’s currency naira (Naira) in the first half of 2016 devaluation of more than 40%, things look very bad. At the same time, for the mainstream consumer and the majority of enterprises, the use of other foreign exchange naira is basically impossible. This country has experienced the worst recession in decades, prompting people to alternative financial solutions.
Interestingly, bitcoin obtained in the country’s popularity is mainly due to the MMM Pyramid scam. Although the scheme itself is evil, but a lot of people in Nigeria benefit from this project. At the same time, 3M promoted the use of bitcoins in the country. However, now the enterprise investment bitcoin have legitimate reasons, things look very promising.
Consumers are also investing in bitcoins as a way to hedge against future devaluation of the naira. At present, are tax-free bitcoin transactions and investment in Nigeria, compared with the bank account or cash in capital, holding the crypto currency will be more secure, but the advantage is that bitcoin really lower transaction costs. At present, more than 100 thousand Nigeria merchants to accept bitcoins as payment to buy goods and services.
Although this is a very positive trend, but we still remember that bitcoin market volatility is still relatively large. The incidents of the past few weeks have shown that bitcoin market is still changing. Risk investment bitcoin is still high, but still high but other investment opportunities. See bitcoin in Nigeria this appeal is indeed very good, especially in the recent collapse of bitcoin prices against the market situation.
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