Digital currency comes with a host of benefits such as lower risks, and convenience in transactions. More importantly buying and selling digital currency online in Nigeria is extremely safe and secure.
Popularity of Digital Currency
In 2010, Bitcoin was launched which very quickly gained popularity as a top runner among other crypto currencies. Its dominance continues to be felt in the digital market. Ethereum uses blockchain technology and was launched by a team of developers. Well known corporations and investors prefer to use this form of crypto currency to buy and sell digital currency online in Nigeria. The introduction of digital currency has definitely made financial transactions and trade easier, faster and more secure. Since digital currency operates independently, more and more financial institutions are seeing the benefits of switching over to crypto currency. While digital currency is still not widely accepted or regulated, it does seem to be an effective stable alternative to regular currency.
Trading in Digital Currency
Exchange platforms such as www.swiftypay.net enable traders to buy and sell digital currency online in Nigeria. In order to begin, one must set up an account as well as store crypto currency in a digital wallet. Start with currencies that you have sufficient knowledge about and then gradually increase your expertise to include all the major crypto currencies. The price and value of a particular crypto currency depends on a number of factors including those related to the US dollar and government regulations. It is therefore important to understand in depth the digital currency market. Once you freeze on your trading strategy and set your goal, you will also need to exercise discipline in order to know when to exit the trade. Since trading crypto currency is an unstable impulsive exchange it can lead to risks and losses. Start small and get a feel of how the market works. Define your target and the maximum loss you are willing to risk before you decide to pull out.
Digital currency will continue to grow and thrive, making a greater impact in the financial world. With proper security measures in place, buying and selling digital currency online in Nigeria will attract more customers and investments.
Developing economies are opening up to crypto currencies. It provides millions of citizens with an opportunity to perform transactions and generate livelihoods, including buying food and other basic necessities in a country where official money is worth almost zero. It also allows them to purchase goods from overseas, overcoming ever-stricter capital controls. In Nigeria, local traders and activists believe this new money presents an opportunity to democratize the economy. The Bitcoin and e-currency trade in Nigeria facilitated by Swiftypay is easy, hassle-free and safer for the users.
Nigeria- The Next Frontier For Crypto Currency
Today, Bitcoin and e-currency trade in Nigeria is taking the financial world by storm as more people invest and buy these currencies. At the same time, there is still widespread confusion and bias. Interest in crypto currency has been growing steadily in Africa. Bitcoin transactions help to eliminate the procedural bottlenecks that plague traditional banking and financial services. That Bitcoin & e-currency trade in Nigeria allows traders to send money to just about anywhere there is an internet connection for relatively small fees and with no third-party interference is an advantage that standard government-issued currencies cannot offer.
E-currency Trade Made Simpler And Safer
Crypto currency is not bound by geography because it is internet based, its transactions are stored in a database that record transactions in a ledger in real time. Every single computer device on the surface of the planet with an internet connection can access information on the database and make transactional inputs onto it. The information cannot be distorted, deleted, modified or destroyed, and computer device has the same information as everybody. Through Swiftypay transactions of Bitcoin & e-currency trade in Nigeria remain anonymous users’ information is private and safe and there is little possibility of identity theft.
Bitcoin is proving to be one of the most favorable technology investments of all time. It is the oldest and first digital currency that was introduced. It has the highest exchange volume and rate. On the purchase of it, an investment in an open network is made, and the money is placed into a unique transformational platform, with many of its greatest applications still to come.
Buy and Sell Bitcoins in Nigeria
Many Nigerian exchanges accept paper currency and allow the purchase of the desired crypto currencies. The purchased Bitcoin can be left at the exchange or transferred to a mobile or web-based wallet. This makes opening an account at an exchange much easier for Nigerians. In addition to the exchanges native to Nigeria, many international and semi-international exchanges accept accounts from Nigeria. Users are given the choice to invest in Bitcoins, which involves registering at an exchange and acquiring a crypto wallet or just buying and selling Bitcoin. To determine whether to get an exchange and a wallet or open an account with an online crypto currency broker, focus is to be made on whether the intention in buying and selling Bitcoin in Nigeria is investing in crypto currency over a long term or simply using it as money.
Make the Smart Choice with Swiftypay
Buying and selling Bitcoins in Nigeria actually seems rather easy, but selecting a good broker or exchange is what really matters. The user should have some knowledge of how to trade digital currency before beginning to trade with Bitcoin actively to avoid common pitfalls. Swiftypay provides for registration of users from Nigeria for buying and selling Bitcoin in Nigeria. With the services it offers and user friendly interface, buying Bitcoin in Nigeria becomes an easy affair.
Ethereum, created in 2015, is proving to be one of the most favorable technology investments of all time. On the purchase of Ethereum one is investing in an open network, and placing money into a unique transformational platform, with many of its greatest applications still to come. Nigeria offers several advantages for cryptocurrency traders, thus several cryptocurrency exchanges have set up their base there, creating a hassle free environment to buy and sell Ethereum in Nigeria.
To buy and sell Ethereum in Nigeria, one must first access a cryptocurrency exchange that allow clients from Nigeria to register and that offer the ethereum cryptocurrency. Depending on the exchange or broker selected, buying ethereum in Nigeria should not be that complicated. One can choose between investing in Ethereum, which involves registering at an exchange and acquiring a crypto wallet or just buying and selling Ethereum. Many of the Nigerian exchanges accept paper currency and allow the purchase of the desired cryptocurrencies. The purchased Ethereum can be left at the exchange or transferred to a mobile or web-based wallet. This makes opening an account at an exchange much easier for Nigerians. In addition to the exchanges native to Nigeria, many international and semi-international exchanges accept accounts from Nigeria.
Knowledge is key
Buying and selling Ethereum in Nigeria seems rather easy, but selecting a good broker or exchange is what really matters. The user should have some knowledge of how to trade cryptocurrency before beginning to buy and sell Ethereum actively to avoid common pitfalls. To determine whether the user get an exchange and a wallet or open an account with an online cryptocurrency broker, one must know whether he wishes to invest in the cryptocurrency over the long term or simply use it as money.
Buying and selling of digital currency online in Nigeria and worldwide is a recent economic trend that took the monetary markets by storm. Transactions involving digital currency require the help of technology and can be done between users of computers, smartphones and the internet. While digital currency can be used to purchase goods and services it is often restricted to certain online communities. What is digital currency? Digital currency, also known as digital money, electronic money/currency or cyber cash, is a payment method which exists only in electronic form and is not tangible. It can either be centralized or decentralized. The former involves a central point of control over the money supply and the latter is when the control over the money supply comes from various sources.
Types of Digital Currencies
The various forms of digital currency bought and sold online in Nigeria include Ethereum, Bitcoin, Ripple, Litecoin, Dash, Peercoin, Dogecoin, Primecoin, Chinacoin and Ven amongst others. Ethereum and Bitcoin are the more popular of the various digital currency bought and sold online in Nigeria. Ethereum is a decentralized computing platform which executes peer-to-peer contracts using a crypto currency known as ether. Bitcoin is a digital currency that can be used to buy items locally and electronically. They can be used for all types of real transactions.
Buy and Sell Digital Currency Online in Nigeria
You can buy and sell digital currency online in Nigeria. Each currency comes with its own individual wallet apps on phones or a desktop. The exchange app account number is to be linked with your phone number as well as the bank account number. Once all the necessary information is added, you can begin to buy and sell digital currency in Nigeria or any other part of the world.
Suggested Reading: Making a Smart Informed Choice on Online Digital Currency
Thinking to buy and sell BTC, XRP in Nigeria? Do you know the difference between Bitcoin and XRP tokens? With so much confusion about digital currencies, here’s some information to help you make a well-informed decision.
Utilization of BTC and XRP
Bitcoin is block-chain based digital currency that uses mining algorithm to create a new block of crypto currency. Bitcoin is used around the world to pay for goods and services. XRP tokens rose into prominence because they form a part of the Ripple system which is a payment settlement, remittance system and currency exchange solution for banks and payment networks. Ripple is not based on block-chain and uses ERP tokens as well as validating servers and distributed consensus ledger for management.
Volumes in Circulation
New Bitcoins are produced to reward participants who offer computing services to keep the block-chain network alive. The maximum supply of Bitcoin is around 21 million units which are spread all over the world. On the other hand, 100 billion XRP tokens were created inception, out of which only 38 billion are available in the market. Ripple periodically releases a small part of its XRP holdings to fund different activities. The price of Bitcoin is more than the price of Ripple.
Speed of Transactions
One of the reasons for Ripple becoming popular in recent years is that XRP transaction confirmations can be completed in seconds. Bitcoin transactions take longer, up to ten minutes, for completion. XRP is a digital currency and an increasing number of merchants are accepting XRP tokens online as a direct method of payment. This is sure to give XRP tokens further value as commodities in due time. Till then, XRP remains a vital element for transfer of other currencies and payment settlement for commodities over the Ripple Network.
Whatever your decision regarding buying and selling BTC, XRP in Nigeria, keep in mind that investing in digital currencies is highly speculative – only invest the amount you are comfortable about potentially losing!
Suggested Reading: Making a Smart Informed Choice on Online Digital Currency
Guaranteed to be safe and secure, more and more people are starting to show interest in ways to buy and sell digital currency online in Nigeria. Before you do get started on investing in cryptocurrency, here are certain facts that you need to know.
Know the Risks and Be Selective
Most cryptocurrencies cannot be easily converted into cash and are therefore far easier to manipulate. Crypto tokens also don’t pay any dividends or profits and the market itself is unregulated. Always start with smaller investment amounts and set an exposure limit based on your income, age and wealth before you buy and sell digital currency online in Nigeria. Always spread your investments in various crypto holdings. This will definitely increase your chances of gaining profit. A market correction can affect the value of both good and bad crypto tokens. On the bright side this will be a great opportunity to buy tokens at a lesser price. Invest in unique platforms that have created a large degree of competition within the market place. You can decide to own or trade cryptocurrencies. When it comes to trading you can invest only a small portion and use it to gain greater exposure. Trading also means that you don’t have to pay any capital gain on your profits. Your exchange account will depend on whether you would like to directly buy and sell digital currency online in Nigeria or if you will use the services of a broker.
Do Your Homework and Use Technical Analysis
To really profit when you buy and sell digital currency online in Nigeria you need to do some extensive research and learn to differentiate between a good and a bad start up. Pay attention to the founders, their transactions and their track record. Find out if the startups are backed by a strong blockchain application. Be aware that crypto tokens cannot be valued at a fixed fair price and rely on technical analysis data to determine whether the time is right to buy and sell digital currency online in Nigeria. Usually when market correction is combined with large volumes it means a large a part of the market is participating which will in turn increase the price. Several factors such as government resolutions, politics, media coverage and other businesses can also affect the value of crypto currencies.
While trading in cryptocurrencies can be exciting and lucrative, it is also prone to risk due to its volatile nature. Start small and you will find it a very interesting sector to explore.