Benefits of Owning Bitcoins

 


Bitcoin is known as the next best thing since the internet was invented. Innovators and cryptographers spent more than 25 years developing a decentralised and secure working digital currency, leading to its invention. There are many benefits to owning Bitcoin, and that knowledge will probably make you want to start investing and reaping generous rewards. You also have the option to buy and sell Bitcoins in Nigeria to earn some extra cash on the side. Let’s explore the perks of owning this cryptocurrency.

 

No permissions required

Traditional money and currencies require permission to use from governments, financial institutions, and banks. Bitcoins don’t require any, and it’s free and open to use wherever you are. As such, no company or central bank can confiscate them either. There are no limits or borders when you buy or sell Bitcoins in Nigeria. Proof-of-work (PoW) is the computational algorithm that prevents blocking or censoring transactions.

 

Decentralised

The Bitcoin network is globally distributed through thousands of computers or nodes and millions of users. That means you don’t have to depend on trusted third parties. Supply is limited to only 21 million, and Bitcoins are generated at a predictable rate.

 

Open source and easy to use

Anyone can help develop Bitcoin through relevant software clients, and it’s fast and easy to use. Transactions are almost instant and low-cost compared to central payment networks like Visa, Mastercard, or PayPal. It’s also possible to sell Bitcoins in Nigeria fast with a reliable and secure cryptocurrency trading app like Quchange.

 

Real Money

You may use Bitcoin to pay for many purchases, including food, travel, electronics, and other transactions, without being double-spent. Using it correctly also provides anonymity, meaning governments won’t find out you spent it. You don’t have to provide personal information to make peer-to-peer Bitcoin transactions. Despite this, it offers a high level of transparency while hiding your personal information. All information regarding supply and transaction is on the blockchain.


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