Why Nigerians they Use Bitcoin.

[GPVibes]

All the points you mentioned are very important and they are all acting as advantage of bitcoin but the one that really concern us naija as the reason we are using it is because of our inflation rate and Naira depreciation. This is true that our naira keeps depreciating because the government is not doing much of capital investment which will help industries to be established and manufacturing will help in exportation of products and exchange rate on naira will improve. This is not happening and the naira can't improve. So part of the option left for Nigerians is to embrace the digital currency that can measure up with foreign fiat currency so that when you put your money in it, at appreciation you can exchange it at the rate of those foreign currency and by then you have cut off inflation on that your invested money.

[Zigabel]

Inflation and Naira depreciation: Naira value just dey fall every day, so Bitcoin na better way to store value.
So if you invest for Bitcoin, like if you won con save your money for Bitcoin for some years when you won collect am e go give you more than the value way you been but am, so na one of the reasons people for Nigeria here dey invest inside Bitcoin.

Cross-border payments: Bitcoin dey more faster and cheaper when you won send money give person for another country with Bitcoin than when you go use bank or Western Union.
Bitcoin con even make salary payment for those Nigerian people way dey the country dey work for foreign companies for online dey very easy.

Limited banking freedom: E get some restrictions way government done put en place way be say e no dey give us freedom for our own money and again government restrictions way dey for foreign currency don make Bitcoin a flexible alternative.

Privacy and control: Bitcoin dey allow users or investors control their own money without relying on banks, for Bitcoin you no need second or third party for you to control your money.

All this things dem wey you don list na true, na some of the major reasons so many Nigerians dey put body for the Bitcoin mata, dem know and understand say e dey multi functional and e fit help them do many things with am d same time and not like wetin we dey experience with our own currency most times. the aspect of that cross border payment na one challenge wey be say many Nigerians been don suffer b4 we begin see way to dey use Bitcoin instead. now with Bitcoin, volume or amount of the money wey you wan send no go really dey affected and e go maintain value wey be say you no go need fear if e go do droop bad except time wey be say volatility dey hug and e dey very cheep to use that method send money pas when you dey use the other normal known Channels dem.

Another one na dat privacy wey Bitcoin dey give person with their money, e pass wetin bank fit give you, and you go dey sure say as far as you no share your password or your secret phrase, no body go get access for any reason.

[Borbb]

Yeah for sure everything you said what's right even na only naira person go only just dey deal with everything go just blur money wey no even get value, Ghana cedis better pass am sef how person no go use Bitcoin wey go help me grow my money I just thank God say things like Bitcoin and other crypto currency dey this country if not the street for no even funny at all, and  this has all the qualities is very fast and reliable even when making transactions I swr Bitcoin na money booster ooo.

[VivaMan]

Bitcoin is generally acceptable worldwide not just Nigerian but many countries as well make use of Bitcoin due to it reliable transaction and save and fast transaction.
Due to the good and reliable transaction of Bitcoin it has become a source of investment and savings for Nigerians and other people seeking for were to save their assets.
The rate of naria can not be compare to Bitcoin Bitcoin value is valued and has a good rate always to be compared to naria.
No body want delay in transaction Bitcoin is very fast oo in all transactions from one others to another accepted to pay for flights, hotels, and others so with all this benefits it is highly accepted and used.

[JimaGod]

Inflation and Naira depreciation: Naira value just dey fall every day, so Bitcoin na better way to store value.
So if you invest for Bitcoin, like if you won con save your money for Bitcoin for some years when you won collect am e go give you more than the value way you been but am, so na one of the reasons people for Nigeria here dey invest inside Bitcoin.

Cross-border payments: Bitcoin dey more faster and cheaper when you won send money give person for another country with Bitcoin than when you go use bank or Western Union.
Bitcoin con even make salary payment for those Nigerian people way dey the country dey work for foreign companies for online dey very easy.

Limited banking freedom: E get some restrictions way government done put en place way be say e no dey give us freedom for our own money and again government restrictions way dey for foreign currency don make Bitcoin a flexible alternative.

Privacy and control: Bitcoin dey allow users or investors control their own money without relying on banks, for Bitcoin you no need second or third party for you to control your money.

For the inflation matter, make you no also forget say, bitcoin Dey volatile which means say e Dey fall and rise and I Dey also correct your first statement say if you put money for bitcoin, when you need am, e go don rise and that na ponzi mindset because nothing Dey assured for the market and you fit still confirm from people wey buy bitcoin when the price been Dey the all time high and know if their port folio still remain the same till now?
Crypto matter no be for the weak.


And your last talk about privacy no be wetin Dey happen now because as it stands now, bitcoin don Dey loose it’s decentralized value as more government get involved and give more regulations and as matter Dey be so, na only self custody we get now no be privacy again.

[Yeesha]

To be honest all the things way you talk na the reason why many Nigeria dey invest in Bitcoin, Bitcoin na very good investment and na that one you no mention people dey also invest in Bitcoin because na very good investment, if you dey invest inside Bitcoin like dey buy Bitcoin dey hold am for 10 to 20 years consistently your life go change because you go make better gain from that investment, Bitcoin go still dey better for future the price of Bitcoin go continue to dey grow, I no say some people go dey doubt but nothing to doubt there because of if you look how Bitcoin growth history dey you go see am say Bitcoin still get plenty possibilities.
One of the reasons why i enter Bitcoin investment na the money way I fit get from am, watin you talk na truth if you dey save for Bitcoin e dey more better than say you dey save for bank.

The thing is that, bitcoin is actually a great cryptocurrency that you can trust without any doubt or issues, but this is actually for those who understand and know how cryptocurrency work, some people may disagree with you due to their lack of understanding bitcoin. Naira as being losing its value day by day making the economy more hard for people to grow and develop, I strongly believe that if many Nigerians get to know about Bitcoin I strongly believe that the Nigerians would keep their money in form of money and ignoring the fiat currency for their own safety and proper management.

[Yorubek]

It is true that holding Bitcoin in the long term protects against inflation. The value of the Naira is decreasing over time, so we can protect ourselves from the decrease in the value of our Naira by consistently purchasing small amounts of Bitcoin with the money left over after paying all our necessary expenses and holding it for the future. Bitcoin is a digital decentralized asset with a limited supply, which can be controlled by no specific country or government, and there is personal freedom in using Bitcoin. Ordinary people and traders are buying Bitcoin as a future asset and patiently holding it for the long term because holding it for the long term with the right rules can protect against inflation and expect profits in the long term.

[Pathsofglory38]

Omo u don talk am finish cus all this thing we you talk are on point.
You see that aspect of sending money you person outside country that one it self Na wetin them don use beat every payment method you fit think of. Bitcoin be like na you get your own bank no body fit come dey regulate wetin you go do no charges or make I say lesser charges Omoh bitcoin go burst your head if you want talk about the advantage and why people gaz dey use am.

[Mighty97]

Your points shows the reason a lot of Nigerians see Bitcoin as an option that is useful. As a result of steady drop and inflation in the naira, Bitcoin may act as a more solid store of worth for those that understand the risks. It equally enables cross-border payments and makes it easier and less expensive, mostly for freelancers who get paid by foreign firms.

Government limitations on banking and access to foreign currency forces users to seek alternatives, so Bitcoin provides  more individual authority over funds.

To add, it is essential to remember that Bitcoin is volatile, therefore those using it has to be informed and cautious.

[Jubilee58]

The use of bitcoin is helping us Nigerians so much because when you look at the way our naira currency is loosing value day by day, bitcoin has really helped us in sustaining the value of our currency and has stopped our currency from depreciation.

Bitcoin is an investment asset and a store of value. As we put our money in bitcoin, our portfolio increases in value as the price of bitcoin increases over time. Imagine buying Bitcoin of $10 as at 2009 when bitcoin initially came onboard and you live it till today, that little investment would have changed your life today. So is a store of value.

Bitcoin has helped in reducing the high fees during transaction and help keep us anonymous during transaction. Unlike the traditional banking where the name of the sender will appear on the transaction record and we no longer struggle with other customers while making transaction.

[Fiasem20]

Many reasons dey wey make Nigerians dey use bitcoin,I fit talk say the major reason na because say na good investment option.Make we commot the investment matter first,Bitcoin con still be hedge against inflation, bitcoin dey serve many better purposes.Now many retired people dey regret why them no know Bitcoin since,all their years dem dey save their hard earned money for Fiat wey no dey profitable for the long run.In terms of financial freedom and decentralization Bitcoin dey,then the Koko na say e dey return profits yanfu yanfu.Naija no dey carry last in terms of adopting to new technologies na why Nigeria dey always dey on the list of countries wey dey promote Bitcoin adoption.

[Boiboi20]

The best advantage Bitcoin has over fiat for me is the control over assets unlike the bank that restricts some activities and monitors transactions as well. Bitcoin's decentralized network structure is what makes it more preferable and protected to use than regular fiat currency.

Inflation can be controlled by the government which makes it even more risky to save up one's money in fiat currency as the government can for their selfish desire decide to inflate the economy.

Bitcoin would always remain a good store of value and a better investment for the future.

However what I really like about bitcoin is that it give you actual control over your own money no bank telling you what you can or can’t do no restriction no one watching every transaction the decentralized part is not just a buzz word it’s the reason it feels safer and more transparent than fiat with regular currency the government can change things overnight inflation policies printing more money all of that affect your saving and you have zero say in it that is what make holding fiat feel risk long term bitcoin on the other hand has proven to be a solid store of value and something you can count on for the future that is why it still stand out for me.

[Different patterns]

Inflation and Naira depreciation: Naira value just dey fall every day, so Bitcoin na better way to store value.
So if you invest for Bitcoin, like if you won con save your money for Bitcoin for some years when you won collect am e go give you more than the value way you been but am, so na one of the reasons people for Nigeria here dey invest inside Bitcoin.

To be honest, bitcoin don seriously turn big option to many Nigerians because of waiting day normally happens for economy, naira dey lose value everyday, for example now if you save like 300k today in ur bank, if e reach next year e fit no reach the same amount wey you saved again. But with the help of bitcoin, bitcoin dey act  like a store of value, if you Patiently keep am for long term, e fit multiply instead of ur money to losing value, that's why many people dey use am as a savings, because they know that something will turn up good,

b]Limited banking freedom:[/b] E get some restrictions way government done put en place way be say e no dey give us freedom for our own money and again government restrictions way dey for foreign currency don make Bitcoin a flexible alternative.

All this governments policies and banking wahala don make it difficult to move or access money freely, most especially foreign currency, but bitcoin give it to people as a freedom  so that everyone can have control over their money without waiting for anyone approval, so whatever person dey use am for whether they dey use am for business, saving or just for financial freedom, bitcoin dey solve many problems for Nigerians, no be say I dey hype am.

[Sonia_123]

Inflation and Naira depreciation: Naira value just dey fall every day, so Bitcoin na better way to store value.
So if you invest for Bitcoin, like if you won con save your money for Bitcoin for some years when you won collect am e go give you more than the value way you been but am, so na one of the reasons people for Nigeria here dey invest inside Bitcoin.

Cross-border payments: Bitcoin dey more faster and cheaper when you won send money give person for another country with Bitcoin than when you go use bank or Western Union.
Bitcoin con even make salary payment for those Nigerian people way dey the country dey work for foreign companies for online dey very easy.

Limited banking freedom: E get some restrictions way government done put en place way be say e no dey give us freedom for our own money and again government restrictions way dey for foreign currency don make Bitcoin a flexible alternative.

Privacy and control: Bitcoin dey allow users or investors control their own money without relying on banks, for Bitcoin you no need second or third party for you to control your money.

You don't talk everything finish, na who like all the things wey dey happen for naija in the aspect of finance, imagine the high rake of taxation for banks from all your transaction and even if you just keep your money there dem go still dey cut am any how, the country nor just dey help people grow at all instead the politicians only dey reason how dem go dey grow, upon sey dem no dey do anything to improve the economy or livelihood of the citizens, dem just dey add tax for everything imagine the one wey go start for January, I really like bitcoin because e don help us wey dey inside bitcoin well well to help us reduce the stress of their excess charges, because now sef dem dey eye cryptocurrency to dey charge from their transactions, wetin dem no gree accept for the country .

[Borbb]

To be honest naira is not enough without any assistant we thank God for Bitcoin today how this country for take be sef this one wey our money no dey fit afford anything but in Bitcoin money dey try get value na why many of us they use am trade even if they pay you through Bitcoin you go still happy

The way Bitcoin just dey drop this time around ehh I don dey fear ooo my money from 500USD. Now to 350USD I just tire but make the money just dey my wallet sha na only save place I get to invest.

[MD0706]

Cross-border payments: Bitcoin dey more faster and cheaper when you won send money give person for another country with Bitcoin than when you go use bank or Western Union.


[/quote]

Yes bitcoin has more advantage in times of sending liquidity for some one outside your country is more flexible, faster, less work and bitcoin is all over the place all over the world even the exchange to your own currency and it take any currency for exchange