Bitcoin, also know as “Digital Gold”, was introduced to the world in 2009. The term “Digital Gold” was attributed to it because it has all the properties of gold, except the weight. Bitcoin is present in the entire African continent, having a very strong presence in Nigeria lately, so much so that it is the African country with the most Bitcoin-related searches in Google.
Buying Bitcoin in Nigeria
The constant demand for Bitcoin in Nigeria is a true fact, for this reason the Nigerian population keep looking for easier ways to get them. The increase in the demand for Bitcoins is given mostly to the economic conditions in that country, situation that forces many people to use the Internet in hopes of finding a way to make quick and easy money.
The faith in this cryptocurrency has gotten to the point that Nigerians’ trust factor in it has reached a historical 59%, while only 17% of the population is against it and the remaining is simply neutral. Many people rather purchasing Bitcoin than gold, since they hope that the value of the first increases much faster than the value of the precious metal.
Nigerians are continuously joining several online programs to help them make money, programs which require for them to handle Bitcoins if they want to join. Some of the methods Nigerians are using to get Bitcoins are:
Buying bitcoin from friends. They can also buy them from members of the same websites they are registered in, since those members will also get paid with bitcoin, so it is natural to assume that they will also be searching for ways to get naira in return for their bitcoin. The fastest way to do it is simply offering the exchange to another member in need and starting a cycle which will maintain as long as you keep needing the Bitcoins.
Getting them in a bitcoin exchange site. These sites help customers to exchange their naira for bitcoins and also to change their bitcoin back for naira. A detail is that these Nigerian exchange sites rates and fees are usually high; however, they offer a valuable service for people who need bitcoins urgently.
Buying them from online forums like Nairaland. It is very important to investigate and research before doing an exchange in these websites because some of the sellers on these forums might be planning to scam other people and run away with their money.
The last way get bitcoins in Nigeria is by using a peer-to-peer bitcoin site, which offer you the advantage of dong a very fast process when both parties involved in the transaction are ready.
Bitcoin is gaining more popularity not only in Nigeria but in the whole world, since people rather sending money to their families and/or friends using this unique form of currency. People who work online choose to receive their payments in Bitcoins because it represents true advantage over the dropping value of naira.
