Bitcoin ter Nigeria: Guide on How to make Money with Bitcoins Cryptocurrency

What is Bitcoin?

Today you will learn how to trade bitcoin te nigeria, how to make money with bitcoin ter nigeria

bitcoin investment ter nigeria opportuinties and bitcoin business te nigeria will be our major concern.

Wij have all heard about Bitcoin but not many people can tell you exactly what it is. Ter the simplest terms Bitcoin means “digital currency”, that is, it can neither be seen strafgevangenis touched, but it can be used for internet transactions. Some offline stores also accept Bitcoin spil a form of payment. However Bitcoin is not yet te use ter Nigeria. It is fairly popular ter advanced countries, especially does ter Europe and North America, but te Africa it’s still not used for serious things.

Who Created Bitcoin

Weiland Dai wasgoed said to have proposed the cryptocurrency concept te 1998, this is according to Bitcoin.org. And it means secure currency. However the concept wasgoed proven 11 years straks by Satoshi Nakamoto therefore he is widely regarded spil the father of Bitcoin. Tho’ Satoshi himself has denied being the creator of Bitcoin, this leaves some more confusion about who created it.

Who wields Bitcoin?

The Bitcoin toneel is managed by all Bitcoin users world overheen who have the adequate software and go after certain guidelines. Spil for who wields it, nobody does. But since the software is an opens source code any developer can edit it. It will be vetted however by other programmers before it can be waterput to use.

How does it Work?

Download the app unto your mobile or software on your Pc. With this you’ll get a wallet with which you can use to carry out Bitcoin transactions.

Is it Secure?

For the most part yes, however since it is digital it can still be hacked. Pretty much anything digital can be hacked.

How do you make money through Bitcoin?

You can do this through two ways

1) By Buying and Selling Bitcoins

Through speculative buying and selling: just like forex and stocks. If you think the value of Bitcoin at a certain point will druppel, you buy, if it will rise, you sell.

Trio) By Mining for Bitcoins:

This is done on your pc using special software and Bitcoin mining hardware. Basically what you do here is to solve very difficult mathematical problems. Thesis calculations serve spil firewall for Bitcoin transactions. For solving 1 problem you get rewarded with 25Bitcoins. 1 Bitcoin is overheen $700. If you convert this to Naira it is some money, so solving one of thesis problems can actually make you a very rich person. Bitcoin can also be mined spil a group, and the profits are then collective around the group. Bitcoin mining is not expected to proceed forever. However it is still a long time till when there will be no more Bitcoin to mine.

Should you overeenkomst te Bitcoin?

Personally I’d say that Bitcoin is still ter the beginning stages. This means that it is very tricky and risky. To make a success out of it tho’ you’d need to be educated te the act of it. This doesn’t still mean you won’t lose money. However it is worth the risk, this is because some Nigerians are making money from it.

Related movie: How To Buy Bitcoin: The Safe And Effortless Way


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