Are you Curious about the current price of Bitcoin in Nigeria? Read on to find out the latest updates and learn why investing in Bitcoin could be a smart move for Nigerians.
Before we go into the current price of Bitcoin in Nigeria, it is essential to understand the significance of this popular cryptocurrency in the African nation. Bitcoin, the world's first decentralized digital currency that operates independently of a central bank, has gained massive popularity over the years due to its decentralized nature and potential for high returns on investment. In Nigeria, where traditional banking systems is somewhat unreliable and costly, Bitcoin has become a favored alternative for many individuals looking to store and transfer their wealth securely.
As of today May 10, 2024, the
current price of Bitcoin in Nigeria is ₦86728248.38. Please, note that
this figure fluctuates constantly, influenced by a variety of factors such as
supply and demand, market sentiment, and global economic trends. Though,
despite this volatility, many Nigerians continue to invest in Bitcoin as a way
to protect their assets from inflation and currency devaluation.
Bitcoin Price History
Bitcoin's price has fluctuated
significantly over the years. In the last 24 hours, the price has increased by
3.56%. In the last 7 days, the price has increased by 7%. In the last 30 days,
the price has decreased by 8.27%.
Bitcoin Market Cap
Bitcoin has a total market cap of
₦1,801,815,386,560,872.50. The market capitalization of Bitcoin is calculated
by multiplying the total number of Bitcoins in circulation by the current price
of Bitcoin.
Bitcoin Circulating Supply
The total number of Bitcoins in
circulation is approximately 19,696,371. The total supply of Bitcoin is capped
at 21 million, which means that there will only ever be 21 million Bitcoins in
existence.
Why Invest in Bitcoin?
Having
known the current price 0f Bitcoin in the Nigerian market and the fluctuations
therein, why do one still need need to invest in Bitcoin? Well, investing in
Bitcoin can provide several benefits for individuals in Nigeria. Firstly,
Bitcoin offers a secure and borderless way to store wealth, allowing users to
access their funds anywhere in the world without the need for intermediaries.
Additionally,
Bitcoin's decentralized nature means that it is not subject to government
control or manipulation, making it an attractive option for those seeking
financial freedom.
Moreover, Bitcoin has proven to be a lucrative investment opportunity for many
Nigerians, with the price of the cryptocurrency experiencing significant growth
over the years. While the market remains volatile, those who have invested in
Bitcoin early on have seen impressive returns on their initial investment.
How/Where To Buy Bitcoin In Nigeria
For those
looking to purchase Bitcoin in Nigeria, there are several platforms and
exchanges available that facilitate the buying and selling of the
cryptocurrency. Popular options include:
- Breet:
Breet App is the most popular
cryptocurrency trading app in Nigeria. It is automated, easy to use, rapid,
secure, and delivers Nigeria’s best crypto rates. Breet is a platform for an
automatic cryptocurrency exchange that enables people and organizations to
quickly convert their cryptocurrency into fiat currency.
- Remitano:
Remitano is a good cryptocurrency
exchange app that allows users to buy and sell Bitcoin. The platform is
renowned for having an intuitive user interface. With a focus on security and
customer support, Remitano provides a trustworthy and safe platform for trading
Bitcoin. The software also features a peer-to-peer trading system that enables
users to conduct transactions without the use of a centralized exchange and
instead directly with other users.
- Luno:
Luno is a popular cryptocurrency
platform that allows users to buy, sell, and store Bitcoin. The app, which is
available on both iOS and Android, is user-friendly and easy to navigate. Luno
uses a two-factor authentication process to ensure the security of users’
accounts, and their Bitcoin storage is secured by multiple layers of protection
The above
platforms and many others allow users to trade Bitcoin using Nigerian Naira. It
is essential to conduct thorough research and choose a reputable exchange with
high liquidity and security measures in place to protect your investment.
Conclusion
The
current price of Bitcoin in Nigeria is between ₦86728248.38, reflecting the
growing popularity and adoption of this cryptocurrency in the country. As more
Nigerians turn to Bitcoin as a store of value and investment opportunity, it is
very essential to stay informed about the market trends and make educated
decisions when buying or trading Bitcoin. With the right knowledge and
research, investing in Bitcoin can be a rewarding experience for individuals in
Nigeria looking to diversify their portfolio and secure their financial future.
Thanks for reading: What Is The Current Price Of Bitcoin In Nigeria?, Sorry, my English is bad:)