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HOW TO INVEST AND MAKE MONEY WITH BITCOIN IN NIGERIA


September 29, 2017 Facebook Twitter LinkedIn Google+ Cryptocurrency,Work At Home


HOW TO INVEST AND MAKE MONEY WITH BITCOIN IN NIGERIA

HOW TO INVEST AND MAKE MONEY WITH BITCOIN IN NIGERIA

BitcoinHello guys and girls, gentle men and ladies, I’m Leonard and welcome to this digital currency investment lesson.

There have been this misconception in the minds of Nigerians about bitcoin and the rest of other digital currencies in the market today.

Some said it is a Ponzi scheme, some call it internet fraud and the likes.

Well, what so ever you think it is,

In this lesson I have put in every details to help you get a preview of what the digital currency is and to show you how to buy sell invest and make money with bitcoin in Nigeria.

To start with

WHAT IS BITCOIN?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

BTC is a decentralized virtual currency, which offers quick, cheap, and highly private payments for everyone. It is the first crypto currency ever to exist. Crypto currency, also known as virtual or digital currency, is a medium of exchange, which uses cryptography rules to control the amount of currency available and verify transactions.

WHO CONTROLS THE BITCOIN NETWORK?

Unlike the fiat paper money being control by the government, Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world.

While developers are improving the software, they can’t force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

HOW DOES BITCOIN WORK?

From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users.

Behind the scenes, the Bitcoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses.

In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called “mining”. To learn more about Bitcoin, you can visit bitcoin.org.

IS BITCOIN REALLY USED BY PEOPLE?

Yes. There are a growing number of businesses and individuals using Bitcoin. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap, Overstock.com, and Reddit. While Bitcoin remains a relatively new phenomenon, it is growing fast. At the end of April 2017, the total value of all existing bitcoins exceeded 20 billion US dollars, with millions of dollars worth of bitcoins exchanged daily.

WHAT ARE THE ADVANTAGES OF BITCOIN?

  1. Payment freedom – It is possible to send and receive bitcoins anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Bitcoin allows its users to be in full control of their money. With bitcoin you won’t pay mush charges to send money to anyone schooling abroad.
  2. Choose your own fees – There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it’s possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin.
    Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants’ bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks.
  3. Fewer risks for merchants – Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.
  4. Security and control – Bitcoin users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their money with backup and encryption.
  5. Transparent and neutral – All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.

WHAT ARE THE DISADVANTAGES OF BITCOIN?

  1. Degree of acceptance – Many people are still unaware of Bitcoin. Every day, more businesses accept bitcoins because they want the advantages of doing so, but the list remains small and still needs to grow in order to benefit from network effects.
  2. Volatility – The total value of bitcoins in circulation and the number of businesses using Bitcoin are still very small compared to what they could be. Therefore, relatively small events, trades, or business activities can significantly affect the price. In theory, this volatility will decrease as Bitcoin markets and the technology matures. Never before has the world seen a start-up currency, so it is truly difficult (and exciting) to imagine how it will play out.
  3. Ongoing development – Bitcoin software is still in beta with many incomplete features in active development. New tools, features, and services are being developed to make Bitcoin more secure and accessible to the masses. Some of these are still not ready for everyone. Most Bitcoin businesses are new and still offer no insurance. In general, Bitcoin is still in the process of maturing.

WHY DO PEOPLE TRUST BITCOIN?

Much of the trust in Bitcoin comes from the fact that it requires no trust at all. Bitcoin is fully open-source and decentralized.

This means that anyone has access to the entire source code at any time. Any developer in the world can therefore verify exactly how Bitcoin works. All transactions and bitcoins issued into existence can be transparently consulted in real-time by anyone.

All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking. No organization or individual can control Bitcoin, and the network remains secure even if not all of its users can be trusted.

HOW IS BITCOIN PRICE DETERMINED?

Bitcoins market is one of the few perfect market examples, where price is determined solely by supply and demand of bitcoins. As bitcoin is a decentralized currency, there is no market intervention to impact bitcoin value. In other words, the rise in bitcoin price suggests that more people are willing to buy bitcoins than to sell bitcoins and vice versa.

WHY USE BITCOINS?

It is a superior payment method for the digital age.
Firstly, bitcoin transactions are practically free which makes it a much cheaper alternative when compared to debit or credit cards.
Secondly, bitcoins are accepted globally, which makes them the perfect platform for remittances and international transactions.
Thirdly, bitcoin payments are nearly instant, so the receiver does not have to wait for a settlement. These are just a couple of bitcoin advantages not to mention privacy, micropayments, and autonomy.

WHERE CAN I BUY BITCOINS IN NIGERIA?

  1. SpectroCoin.com provides an option to buy bitcoins with a number of different payment options including bank transfer, debit or credit card, cash, and various e-wallets to name a few. It only takes a couple of minutes to receive your bitcoins.
    Others include
  2. remitano.com
  3. changelly.com
  4. cofred.com
    All these sites equally provide wallet for your bitcoin. Wallet is like your account number.

HOW CAN I SPEND BITCOINS?

The number of shops and service providers accepting bitcoin is growing every day. However, our answer is – everywhere, because you can use SpectroCoin debit card to spend bitcoins at more than 20 million stores and more than 30 million ATMs around the globe. You can get your bitcoin debit card here.

CAN I MAKE MONEY WITH BITCOIN?

There are various ways to make money with Bitcoin such as mining, speculation or running new businesses.
You can make money with bitcoin by joining the bitconnect.co

bitconnect earnings

Prove of earning

With BITCONNECT (you earn daily without referring anyone and if you do refer, more cash for you)
BitConnect is a program that you buy BitConnect tokens using Bitcoin. BitConnect (BCC) is listed in top 20 of cryptocurrencies and is worth over $400 million dollars.

The BCC is then lent out to the trading bot. BitConnect makes trades on the volatility of the Bitcoin for the day. You get payments every 24 hours that have been averaging above 1% per day.
That daily payment is yours to withdraw or you can reinvest for new loans of $10 increments.

There are 4 levels of loans as you can see in the photo:

bitconnect
-$100 – $1000- You get paid the % amount the bot makes for the day and your loan money is returned to you in 299 days

-$1010 – $5000 – You get paid the Daily % plus a guaranteed bonus of 0.1% and your loan money is returned to you in 239 days

-$5010 – $10000 – You get paid the Daily % plus a guaranteed bonus of 0.2% and your loan money is returned to you in 179 days

-$10010 – $100000 – You get paid the Daily % plus a guaranteed bonus of 0.25% and your loan money is returned to you in only $120 days

Don’t forget to share this with your friends and if you have questions use the comment box below or whatsapp +2348165842119.

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