In this Video, I shared insight on why an every Techy and Business-Oriented Nigerian should like Bitcoin.
Circumventing Payment Barriers.
Bitcoin enable you pass payment barriers. I can remember mid 2016 when the CBN instructed every banks to limit the amount of foreign transactions of Nigerians to $100 per month. I was able to overcome the payment barrier by negotiating with my foreign service providers to accept Bitcoin. Altogether, none of my hosting account was deactivated and I paid for many online course worth over $100.
I know a couple of us like to do freelance and work in our own convenience. However, you’re also faced with the problem of getting payment from foreign clients. With Bitcoin, you get paid instantly at a very low transaction fee, without the risk of your funds being seized.
According to a post by Techpoint.ng, Nigeria was ranked 140 out 190 countries in terms of business owners getting funds for their startups. But if you are competent and have a very good use case with your project, Bitcoin will enable you receive funding from foreign investors.
New and Revolutionary Technology
Bitcoin is the first known application of Blockchain, and it’s believed that blockchain is capable of growing bigger than the internet.
Store of Value / Investment
If you’re not satisfied with the 3% yearly interest paid by banks, you can as well invest in Bitcoin. However, the same way you can make money in Bitcoin, you can also loose money.
What do you think? Kindly drop your comments below.