Why you should buy bitcoin in Nigeria
Bitcoin VS NairaThe age old debate of whether you should hold your assets in US dollars or the Naira, but the bitcoin could benefit you compared to both. The volatility of the Naira being connected closely to the value of oil and the restriction in foreign exchange placed by the CNB may make these volatile long term holds of value. Bitcoin has had a reputation for long term stability particularly over the past year where it has rarely dipped below the $300 mark and currently sits at a handsome $600 price range. Not only can you cash in on bitcoins price swings but can also stay assured the value will remain above certain levels as with no government affiliation and complete decentralization the market is free to go wherever it wants !
From its very humble beginnings Bitcoin has propelled in value over a thousand times. Starting of at a fraction of a cent the currency was initially mined by computers but after the advent of ASIC technology home mining has pretty much ceased to be a profitable activity when factoring costs in. This has in turn increased the number of people using exchanges such as NairaEX for their bitcoin needs, as creating bitcoin not only takes weeks and weeks at current mining conditions, it also has a reputation for stretching computers to their maximum potential (in some cases lowering life expectancy).