In the past decade, Bitcoin became a huge sensation that caught the attention of many across America and Europe. In fact, in 2017, it was the second most searched global news term, as reported by Google. Bitcoin is a digital currency tipped by various cryptocurrency enthusiasts to revolutionise finance globally. A worldwide survey on Google Trends showed that Nigeria is top among countries with Bitcoin-related search queries. Therefore, in this article, we discuss seven things that every Nigerian needs to know about Bitcoin.
- Bitcoin is a Cryptocurrency
- Bitcoin is Decentralized
- Bitcoin is Borderless
- Bitcoin is Mineable
- Bitcoin is an Investment Opportunity
- Bitcoin is used for payments.
- Bitcoin can be converted to fiat currencies
Betting is now prevalent in our society, with many people seeing it as an option out of their current financial difficulties. Human beings are naturally inclined to processes that bring in a lot of money with little or no effort. A 2019 report shows that about 730 billion Naira (~ $2 billion)...