₦airaland Forum

WHY YOU NEED CRYPTO

Like the internet, Bitcoin is here to stay. In fact, other crypto currencies as well. It is normal for disruptive innovations to face back lashes from critics. So the current happenings involving bans and restrictions won’t last.

Bitcoin was created to enable a permission-less and decentralized payment system. Irrespective of the time or location, you can make or receive payments, from/to anywhere with very less fees. You don’t not also need any intermediary when transacting.

Right now, Crypto currencies has moved from its initial function to solving real life issues. Banks are now incorporating crypto currencies and its technology into their systems. For an instance; a major bank in the United Arab Emirate partnered with Ripplenet (a crypto currency company) to aid cross border transactions. And in faraway Germany, Frankfurt Airport began using Iota’s tangle network, for Covid-19 ‘vaccination passport’ verification.

With these two examples cited, crypto currency is proving itself to be inevitable. Even Central banks are aware of it. Godwin Emefiele, Nigeria’s Central bank Governor stated that we will be having a digitalized Naira by the year end. The Israeli central bank too, is planning on rolling out theirs too.

It is a fact that few years from now, we will have a lot more people use crypto currencies on a daily basis. You can as well enable your business to start accepting it. Instead of receiving dollar payments via bank and losing cash in processing it, you could switch to crypto. The earlier you do the better.

THANKS FOR READING. Questions can come in the comment section.

You lose cash in crypto transactions too.

namedo:
You lose cash in crypto transactions too.

Just the fee is what is given out. It is convenient compared to Bank transfer charges.
You get paid across the globe and get your cash in naira at a higher dollar rate. While Bank rates are way lower.

True