Reasons why Bitcoin dey exceptional and good to use.

[Justinapeter]

I greet everybody.
I dey see some people talk say watin really they exceptional about Bitcoin and why must they use it. So I just say make I put down this one to help people no why Bitcoin dey exceptional and good to use and get.
Any body way get more ideas fit still add to this one I done write, if I make any mistake too I dey open for correction.

Decentralization.
Bitcoin no get central authority, all of us they use the same basic software and we get the same right and privilege.
No federal bank way go come inflate the currency at their will and no authority way go come put rules and regulations.
E no dey possible to shut down Bitcoin like the way CBN shut down heritage bank.
No politician or government for the world fit influence Bitcoin and nothing like race, religion, social status or gender they exist for the use of Bitcoin.

Ownership.
Bitcoin na your own, e no dey like Nigeria naira or dollar way government fit manipulate any how.
You fit use your Bitcoin as you want, no body fit froze your account.

Divisibility.
You fit divide your Bitcoin into 8th decimal and the sweet thing be say no transaction fees like they way we dey pay for bank.

Privacy.
Better privacy they for Bitcoin no body fit trace you with your Bitcoin address, en they very save to use and you fit create as many Bitcoin address way you go use do your transactions as you want.

Transparency.
Bitcoin they very transparent since all transactions they logged by the network so e they very easy to publicize them if person want, and e dey allow everybody to check them with confidence.

Security.
Bitcoin they more secured than any monetary system for the world. The kind mathematical technology way them use create Bitcoin they very good na why no body fit manipulate Bitcoin system.

Full assurance and trust.
For Bitcoin you no need to fear anything like third party involvement, like when you send money to person, bank con hold am con dey ask ask you questions bring this bring that, inside Bitcoin nothing like that they happen.

Mitigate Risk.
If them breach the security of person way u send money to you go dey save 100% because no information about you person fit use trace you they for the transaction.
Na why you see say gist lover they only accept payment for advert through Bitcoin so nobody fit trace am.

Limited quantity.
The number of Bitcoin na something way everybody no and no body fit change am or bring in more Bitcoin. So possibility no dey for further inflation or to manipulate the money supply.

[Su-asa]

I greet everybody.
I dey see some people talk say watin really they exceptional about Bitcoin and why must they use it. So I just say make I put down this one to help people no why Bitcoin dey exceptional and good to use and get.
Any body way get more ideas fit still add to this one I done write, if I make any mistake too I dey open for correction.

Decentralization.
Bitcoin no get central authority, all of us they use the same basic software and we get the same right and privilege.
No federal bank way go come inflate the currency at their will and no authority way go come put rules and regulations.
E no dey possible to shut down Bitcoin like the way CBN shut down heritage bank.
No politician or government for the world fit influence Bitcoin and nothing like race, religion, social status or gender they exist for the use of Bitcoin.

You said well on this, I like the fact that Bitcoin doesn't have any authority behind it and this is the main reason why Bitcoin is still in existence till date, with the way Bitcoin and it's decentralize nature is, the government is scared of it because they can't do anything to make it centralize. However Bitcoin is a safe heaven investment because it's decentralize.

Ownership.
Bitcoin na your own, e no dey like Nigeria naira or dollar way government fit manipulate any how.
You fit use your Bitcoin as you want, no body fit froze your account.

If you create a wallet and you found it with Bitcoin (no matter the figures) it's yours and nothing can change it unless you misplaced your seed phrase or logins to your wallet or your exchange. Although we know that the seed phrase is the very important thing one should keep safe because if it gets lost the bitcoin on the wallet which seed phrase has lost will no longer belongs to you until you are lucky to recover your seed phrase from where it was. So as long as your seed phrase is still with you or in your custody you still have access to your Bitcoin and that is the exact reasons why the Bitcoin inside the wallet you possess is yours.

Divisibility.
You fit divide your Bitcoin into 8th decimal and the sweet thing be say no transaction fees like they way we dey pay for bank.

Yeah it's true, since 1 Bitcoin is at the price it is now you can convert it to naira and you could know the exact figures it is when you convert it to naira. So as 1 Bitcoin is above a 100 million in naira and you know how the economy of Nigeria is now, you can chose to invest only the amount you can afford for now and each amount you can afford has its own figured, which means the amount you buy determines the figures you get in BTC. Since Bitcoin and wallets has to do with privacy, it's better for an invest to keep his/her Bitcoin on one wallet then protect the wallet with everything possible.

Privacy.
Better privacy they for Bitcoin no body fit trace you with your Bitcoin address, en they very save to use and you fit create as many Bitcoin address way you go use do your transactions as you want.

Privacy is what really matters mate. One can easy be tracked through his or her bank account name and identities and the transaction he or she did because everything thing that's concerns fiat is known by CBN because every fiat bank is connected with CBN and their governments.
The only thing one can do is go teach a transaction through mempool and can also check balance in the wallet and few other things. That is why it's very important for a bitcoiner to use a wallet that doesn't requires any KYC so that they can not be tracked if anything happens.

Transparency.
Bitcoin they very transparent since all transactions they logged by the network so e they very easy to publicize them if person want, and e dey allow everybody to check them with confidence.

Yeah it's true, it's transparency nature help anyone to see any transaction that's done.

Security.
Bitcoin they more secured than any monetary system for the world. The kind mathematical technology way them use create Bitcoin they very good na why no body fit manipulate Bitcoin system.

Security is very important when it has something to do with money, investment or asset.

Full assurance and trust.
For Bitcoin you no need to fear anything like third party involvement, like when you send money to person, bank con hold am con dey ask ask you questions bring this bring that, inside Bitcoin nothing like that they happen.

If you know what exactly you are doing there's is no need for you to have double thoughts on your transaction or give afraid of any cautions. There was a time I did a transaction with fiat from my account to my other account, and the transaction was pending for weeks then I have to go to the bank to rectify the issue, but it was funny how I spent a lot of time at the bank with resolving the issue that day, then the next day I woke up early just to go to the bank again.

Mitigate Risk.
If them breach the security of person way u send money to you go dey save 100% because no information about you person fit use trace you they for the transaction.
Na why you see say gist lover they only accept payment for advert through Bitcoin so nobody fit trace am.

Perfectly said.

Limited quantity.
The number of Bitcoin na something way everybody no and no body fit change am or bring in more Bitcoin. So possibility no dey for further inflation or to manipulate the money supply.

Absolutely.

[Churchillvv]

Generally, you've done well although their might be some kind of minor mistakes or misconception but you're absolutely correct in most of your accessions about bitcoin.

You can also increase you basic knowledge about bitcoin here one -- learn-me-a-bitcoin

Ownership.
Bitcoin na your own, e no dey like Nigeria naira or dollar way government fit manipulate any how.
You fit use your Bitcoin as you want, no body fit froze your account.

You dey correct say for bitcoin, na you get your money nobody dey in charge to make any kind of decision for you. Na their wey this popular phrase "Not your keys, Not your coins" comes in. Asong as say na you get your private key na you get your bitcoin nobody gets am for you except say you loss hold of your private key.

Governments do try to manipulate bitcoin to their favour several times but e dey fail. but the way wey dem dey try manipulate bitcoin now na to put regulations about the use of bitcoin but bitcoin itself dem no fit control am.

Divisibility.
and the sweet thing be say no transaction fees like they way we dey pay for bank.

For here, you dey misunderstand bitcoin because all transactions carried out in bitcoin dey use transaction fees, even lightening network self dey require transaction fees even though say e dey less than normal transactions.

So no bitcoin dey use transaction fees, the abbreviation of transactions fees na TX fee wey dey require to carry out all transactions. once dem mine all the bitcoins finish miners go dey only use the TX fees wey people go dey pay so no tx fee no bitcoin transaction, although e no dey like the wey banks dey charge you but TX fee dey.

Na maintenance fee wey U no go pay for BTC tx not tx fee.

Privacy.
Better privacy they for Bitcoin no body fit trace you with your Bitcoin address, en they very save to use and you fit create as many Bitcoin address way you go use do your transactions as you want.

Correct but some times them fit still track you with your bitcoin transaction especially when you pass KYC for exchange, them fit requests your details from the exchange but and only high authority fit do that one but if you use DEX e dey limited.

Na coin like Monero wey nobody fit track you.

[Frankolala]

I greet everybody.
I dey see some people talk say watin really they exceptional about Bitcoin and why must they use it. So I just say make I put down this one to help people no why Bitcoin dey exceptional and good to use and get.
Any body way get more ideas fit still add to this one I done write, if I make any mistake too I dey open for correction.

Decentralization.
Bitcoin no get central authority, all of us they use the same basic software and we get the same right and privilege.
No federal bank way go come inflate the currency at their will and no authority way go come put rules and regulations.
E no dey possible to shut down Bitcoin like the way CBN shut down heritage bank.
No politician or government for the world fit influence Bitcoin and nothing like race, religion, social status or gender they exist for the use of Bitcoin.

Ownership.
Bitcoin na your own, e no dey like Nigeria naira or dollar way government fit manipulate any how.
You fit use your Bitcoin as you want, no body fit froze your account.

Divisibility.
You fit divide your Bitcoin into 8th decimal and the sweet thing be say no transaction fees like they way we dey pay for bank.

Privacy.
Better privacy they for Bitcoin no body fit trace you with your Bitcoin address, en they very save to use and you fit create as many Bitcoin address way you go use do your transactions as you want.

Transparency.
Bitcoin they very transparent since all transactions they logged by the network so e they very easy to publicize them if person want, and e dey allow everybody to check them with confidence.

Security.
Bitcoin they more secured than any monetary system for the world. The kind mathematical technology way them use create Bitcoin they very good na why no body fit manipulate Bitcoin system.

Full assurance and trust.
For Bitcoin you no need to fear anything like third party involvement, like when you send money to person, bank con hold am con dey ask ask you questions bring this bring that, inside Bitcoin nothing like that they happen.

Mitigate Risk.
If them breach the security of person way u send money to you go dey save 100% because no information about you person fit use trace you they for the transaction.
Na why you see say gist lover they only accept payment for advert through Bitcoin so nobody fit trace am.

Limited quantity.
The number of Bitcoin na something way everybody no and no body fit change am or bring in more Bitcoin. So possibility no dey for further inflation or to manipulate the money supply.

To add to the list, bitcoin is censorship resistance and the government cannot control it. You don't need to third party permissions to carry ou any transaction. Government cannot confiscate your bitcoin if it is store in your self custody wallet, and this is what the government don't like.

Secondly, bitcoin is used as a store of value and a hedge against inflation. If you save your money in bitcoin, it increases in value over time while fiat depreciates overtime. The best part of it is that it is more profitable when you use it as an investment and hodli for long, than any other assest currently.

[AVE5]

Let it be agreed that there had been lot of digital financial technologies that has tried to be developed but couldn't gain a ground but bitcoin came, and dominated as the first digital currency, which since its 2009 it was introduced till date it has keep to advancing in scalabilties, evaluations and both in security terms on a rh decentralized factors.
The lucracious and decentralized technology was being tempted by other developers which comes the AltCoins and has been imitating the qualities of bitcoin but still can't get to its equality.

So, bitcoin is an exceptional and good to be used because;
1) It's the first, most tested and trusted digital currency which makes it reliable and reputable.
2) it has secured potential momentum of global recognitions so, it becomes most dominance.
3)  Its limited supply with the wide range of adoption is an ambitious to accomplish its usability and lucrative potentials.
4) Bitcoins securities is outlined on its unique blockchain that can't be manipulated unlike other cryptocurrencies on a unified blockchains. So, comparing to their security system, bitcoin is built on the greatest solidity blockchain which can't be compromised

[iBaba]

Secondly, bitcoin is used as a store of value and a hedge against inflation. If you save your money in bitcoin, it increases in value over time while fiat depreciates overtime. The best part of it is that it is more profitable when you use it as an investment and hodli for long, than any other assest currently.

As a decentralized banking system it is meant to have an edge over the centralized system since the decentralized technology is not controlled by the government but managed by each and everyone of the users around the world. The independence of Bitcoin and the entire cryptocurrency is strong and have the longevity to withstand the harsh economic conditions and changes in the world because I think most time when people are tested by the economic instability, they usually switch to the more independent platforms like the digital currencies.

[Lida93]

Op I just like the way you just arrange everything with pure explanation wey no carry plenty gramma cos in that way newbies for the Naija board go easily grab knowledge of the difference wey bitcoin possess when we compare am to fiat. Among all those exceptionality me nah the privacy through decentralization, and unto say you be in charge of your money  without the middle man getting involved na those features among other things na make me just like bitcoin.

 Man no fit just get privacy and financial freedom with fiat, government no fit alow you get am at all. Just imagine the way them use hoard the naira last year wey people come the experience unnecessary scarcity of the naira. Na the problem of fiat be that wey bitcoin come as alternative.

[Hewlet]

These are all good reasons why Bitcoin is an exceptional digital asset that's not just standing to serve as a medium of exchange but has the quality of an asset that can be invested into. The full ownership of Bitcoin that all users enjoy and the transparency that enables all transaction that's going in and out of the block chain to be visible to the parties makes things even much simpler and transparent between most parties involved but we should be careful not to assume that it doesn't have a major disadvantage which is that once you've sent a portion of it to the wrong address, it becomes impossible to recover the already sent coin.

Let's always note that while Bitcoin is good and useful in many context,  it's never an indication that it's a substitute to the fiat. Bitcoin makes transactions in the financial sector much easier through the block chain technology but us best used side by side with the fiat such that in areas where the fiat has limitations, Bitcoin becomes the direct alternative while in areas where it's not easier to use Bitcoin, fiat would just work perfectly fine.

[Ever-young]

For me, I see am say bitcoin na the only valuable asset that can't never fade, for decades now wey Bitcoin come into existence, e just dey get even better and better and e don give millions and billions to people wey invest in  am.

Another reason Bitcoin dey exceptional to other forms of investment nah how profitable e dey, as long as you hodl am for long, you go see your profit korokoro, no matter how much the price drop, as long as you no panic, you just hodl dey even still dey buy dey go small small, person go just still dey in profit because the price go still bounce up, come still exceed where e been dey self.

Also Bitcoin na investment wey people sabi globally and every part of the world dey do am at the same time and eas long as you apply the principles and better technique, e go just give you the same n, regardless where you dey.

[Zanab247]

BTC is a decentralized currency that is not control by government, and it will never be control by d government, u can hodl BTC without d permission of d government which is another good side of BTC and is making people to have interest on BTC daily because is good for use.

There is no 3rd party in BTC transactions, which is another way that is good for use and it has made many countries to make it legal tender to their people so that dey can buy goods and services and pay with BTC and it has developed many countries.  

If u can keep your details very well, nothing will happen to your BTC in your wallet because your seeds phrase and password are your major details u need to write down and keep them very well for future purpose.

[Fiasem20]

Bitcoin really dey exceptional and good to use compared to our traditional currency.One thing I admire most about the Bitcoin Blockchain network na the decentralized nature, Bitcoin na digital currency wey central entities like banks and government no get control over am,and e don make it's users prioritize their financial freedom.The Bitcoin network dey unique and one thing wey dey sweet me pass na the limited supply of Bitcoin, the limited supply dey make the coin scarce and when the coin scarce the demand dey increase,the limited supply dey also make Bitcoin a hedge against inflation.