The online shopping business is currently one of the largest markets on earth. Netting business billions of dollars, and allowing for uncompromisable convenience both the business and customer can enjoy business. On an international scale, Nigeria’s economy may be dwarfed by the likes of the US and the UK. However this hasn’t dampened spirits as the latest PayPal report reveals how Nigeria is ranked third when it comes to online shopping.
Mobile Shopping In Nigeria
Online shopping in the country currently accounts for 128.1 Billion Naira spent in the previous year and is set to grow to a an excess of 172 Billion this year. This massive increase fuelled by ease and value found online, has led to probing of Bitcoin and cryptocurrencies as valuable alternatives to PayPal for a host of reasons.
“Nigerians are doing so wherever and whenever they want to, using their mobile devices as an essential shopping tool. “Nigerian online shoppers have realized that the world is their shopping mall when it comes to buying what they need and want”.
Online shopping in Nigeria has never been so mobile. With portable devices and smartphones contributing to a huge percentage of spending, the need for a fast and digital solution to fiat is pretty clear. Not only can business get the most out of their sales without having to worry about taxes and fees, the customer can instantly send money via mobile wallets.
The Banks VS Bitcoin
The banking system may be pivotal for countries such as the US, but for the majority of shoppers in developing nations Smartphones make bitcoin a competitive solution. You too can purchase bitcoin via the NairaEX exchange at the best market rates !
To conclude the integration of Bitcoin into the market can have unprecedented benefits for Nigerians and even business. Considering that the majority of online spending in the country is based on international companies, Bitcoin may be one of the cheapest solutions allowing purchases to make instantly and avoiding fees such as taxes and import fees.