Bitcoin may be the tool of choice for remittance but for traders, this digital currency is quickly becoming the weapon of choice offering sizeable returns within a matter of days depending on your investment. Current volatility dictates opportunity for the short term traders looking to make split second trades and even the long term holders as the potential for a larger profit increases as we creep closer to the Bitcoin halving (where less Bitcoin will be created per block).
Commodities have always been the traditional medium for trading. Having an almost guaranteed demand they commanded a stable price. Especially for the likes of Oil which have driven the Nigerian economy well into the top 100 economies in the world. However with international tensions and activities aboard impacting the price of Oil severely over the past year, this commodity has certainly been costly to traders. However the decentralized and user controlled nature and influence Bitcoin has, allows it to remain fairly stable and protected from international laws which seldom have dramatic effects on the inherent value of Bitcoin
Bitcoin experts are strongly recommend buying Bitcoin as nearing the Bitcoin halving; the supply of new Bitcoin will slowly start to decrease. However rather than be devalued like oil, Bitcoin affords its users a more secure future as based on current levels of adoption and the sheer trading volume demand is set to increase considerably sharply benefiting to those owning Bitcoin proportionately. Taking advantage of NairaEX’s fast and dependable service considering it is one of the biggest exchanges in Nigeria; you too can buy Bitcoin with Naira and have it delivered with a matter of hours.
To conclude the trading opportunities presented by Bitcoin among this currently unstable economy is immense. With the digital currency currently in a stable phase maintaining values above $410, traders can be rest assured; their investments are not depreciating in value. Considering the various risk associated with trading commodities, Bitcoin has its advantages which come in the form of being a medium which is reliable and profitable in the long term.