Most often when i talk about Bitcoin as a form of digital currency among some youths in Nigeria they seems to be confuse while some will say they have not heard of it with lot of questions ranging from what Bitcoin is, it acceptance as medium of exchange to it inventors.
While some still find it difficult to believe when i said, Bitcoin can be used for a whole host of things electronically, such as buying lot of goods from different online shops, paying bills and most especially for investments and trading.
What is Bitcoin
Bitcoin is simply a form of digital currency, created and held electronically using Web wallets such as Blockchain.info. Bitcoins can not be printed, like other currencies such as naira, dollars, yen and euros. Bitcoins are produced or mine by people.
According to Wikipedia, Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009.
Bitcoin And Other Normal Currencies
Bitcoin like other normal conventional currencies such as dollars, naira, yen and euros are also traded digitally. Thus, Bitcoin most important advantage to other normal currencies
While some still find it difficult to believe when i said, Bitcoin can be used for a whole host of things electronically, such as buying lot of goods from different online shops, paying bills and most especially for investments and trading.
What is Bitcoin
Bitcoin is simply a form of digital currency, created and held electronically using Web wallets such as Blockchain.info. Bitcoins can not be printed, like other currencies such as naira, dollars, yen and euros. Bitcoins are produced or mine by people.
According to Wikipedia, Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009.
Bitcoin And Other Normal Currencies
Bitcoin like other normal conventional currencies such as dollars, naira, yen and euros are also traded digitally. Thus, Bitcoin most important advantage to other normal currencies
Another important advantage Bitcoin has is it independent of any central authority, transferable electronically around the World with low transaction fees and instantly.
The Price and Value of Bitcoin
The price of a Bitcoin is simply its monetary cost. The cost of Bitcoin has been varying reasonably upward from huge fluctuations since its beginning in 2011, when it was sold for few cents, and sice then the price has been on the increased each year until its highest at $1200 per Bitcoin in 2013.
The Bitcoin value consists of its network, innovation and its features which made it usefulness and can not be reduced to a single element or feature. The value of Bitcoin's sole purpose is being a payment, storage and accounting network which is clear from the fact that users are willing to buy Bitcoins, transact in Bitcoins as well as use its networked ledger. The following concepts makes Bitcoin valuable; Technological value, Social value, secured value, Scientific value, Network value e.t.c.
Getting a Bitcoin wallet
Bitcoin as a form of digital currency can be saved or kept in a wallet. Getting a Bitcoin wallet can be done on the web. A web wallet such as Blockchain.info, have become popular and acceptable in Nigeria.
To get a wallet simply navigate to the Blockchain.info website, check the top to select, create a new wallet. Provide the necessary details and a strong password for security reasons and you are greeted by the dashboard which shows all incoming and outgoing transactions around the World and your current balance.
Blockchain is a framework that allows you to keep track of transactions as well as increasing the overall transparency on the movement and exact amount of your money. It equally provide provision for Send and Receive, where Blockchain Address is used to make transaction.
Buying Bitcoin in Nigeria
Buying of Bitcoin in Nigeria, can be brought peer-to-peer from well known users around Nigeria for safe transaction. Other sites includes
NairaEx and Africashinter. I recommend this two for there unbeatable rates on your Naira when converting. Boasting delivery times within a matter of hours.
(www.latestandtrending.com)
This comment has been removed by the author.
ReplyDeleteBitcoin rate is fairly solid and dependable for clients. preserving price is a key element when choosing whether to make investments or keep Bitcoin as when you evaluate it to the Naira, Bitcoin is plenty more solid with a stable change charge so long time holders are not going to look a crash in cost while Naira customers are particularly at risk of political movements and commodity charge changes. but for buyers shorting Bitcoin is especially useful as with some of exchanges you may buy cheaply and sell at income inside a remember of minutes as exchanges consisting of NairaEX offer some of the maximum competitive fees on Bitcoin. buying Bitcoin can even assist you to delve into buying and selling opportunity cryptocoins which might be lots extra unstable but mirror Bitcoin in terms of economy. bitcoin hft
ReplyDeleteThere are a few ways to get hold of bitcoins. One can buy bitcoins against cash. For that one simply has to go to the bitcoin ATM and them against cash. how to buy bitcoins with cash
ReplyDeleteThe Winklevosses would make Bitcoin contributing simpler by enabling littler scale speculators to benefit, or lose, all things considered, without the bother of really purchasing and putting away the electronic coins.Waves
ReplyDeleteSugar, zest and everything pleasant! That is what really matters to the blog.
ReplyDeleteChangelly review
Great!
DeleteIn this time of false love, the creator has formed each word with everything that is in him filled it.
ReplyDeleteLending ICO
As a matter of first importance, you will require a wallet. You can do this by enlisting yourself with any trade that has a wallet. Ricona ICO
ReplyDeleteBoth bitcoin casinos and bitcoin poker sites are coming to life and offering their players to make deposits, play with bitcoin at the tables and withdraw directly to their bitcoin wallet. eroiycoin
ReplyDeleteOutside of the criminal component, Bitcoin's principle lovers are examiners, who have no goal of utilizing bitcoins to purchase anything.ico investment
ReplyDeleteThere is one substance called Bitcoin Investment trust which is a speculation subsidize that is intended to track the market stream of Bitcoin. To know more about bitcoin visit look at here now
ReplyDeletehere are a considerable measure of trades where exchanging Bitcoin is protected and anchored and furthermore the clients are encouraged with numerous expanded administrations.what is binance
ReplyDeleteI've seen that people who know about the VR are the only thing that are going blind on the date of https://icopulse.com/ico-list/virtual-reality and IcoPulse needs to tell everyone about it. In the longrun, it can be dangerous and we don't need to face anything like this so please.
ReplyDelete