Remittances are hard to process on a daily basis with the hassle of various procedures identifying you or sorting out fees, remittances should be simple ways of sending money to famil and friends wherever they may be in the world. fiat services such as western union have been explored in our previous articles but none compare to bitcoin. When it comes to sending money abroad bitcoin has been crowned king, sending money in a matter of seconds and at a fraction of a dollar. The NairaEX exchange has been prominent in the bitcoin scenen particularly in Nigeria aiming to serve the entire country, the exchange currently offers the best market rates in the area for your Naira and offers extremely speedy turnover times. Offering bitcoin deposits within a matter of days, compared to the likes of WorldRemit, you can get access to your money much faster !
Transparency and legal loopholes are considered by many looking to make transactions as one mistake and you could lose track of your money or forget to pay taxes on purchases which can lead to further legal problems. However with bitcoin these simply are not a concern. The likes of Blockchain.info allow you unprecedented access into every transaction so you know exactly where your money went.
Government accountability has also become a talking point for the digital currency. Some do account the decentralized and anonymous nature of the coin to increase crime, but ultimately the legitimate uses far outweigh others. Bitcoin regulations are rarely enforced and many countries have no regulation on it allowing you tax free transactions and ultimately allows for simpler taxes annually.
To conclude Bitcoins uses as a remittance medium have yet to be exploited and heading on over to NairaEX.com will allow you a simple exchange if your looking to buy Bitcoin or even sell it at competitive prices !