If you’re a Nigerian trader, one shiny BTC will get you 98,320,985.49NGN, but that number can wiggle depending on which platform you use for your BTC to Naira transactions.
“I’d just use whatever others are using. What could go wrong?” A lot.
All platforms aren’t created equal. Luno, Jackocoins, and Quidax – all play a role, however, some might offer slightly better features than others. So, before you pull the trigger, shop around! A few extra clicks could mean a few extra zeros in your pocket.
Why are BTC to Naira trades necessary?
- Liquidity: This means how easy it is to buy or sell something without the price going haywire and affecting the exchange rate. The more people trading Bitcoin in Nigeria, the smoother things run. But remember, this market is still connected to the global industry, so keep an eye on that too.
- Inflation: Nigeria’s economy is another big player. Inflation, foreign exchange reserves – all that buzz can nudge the exchange rate. If the Naira’s feeling shaky, people might flock to Bitcoin as a safe haven thereby, pushing the price up.
- Demand is also a big factor. Need a way to send money overseas without the pain of traditional banking procedures? Enter crypto, and just like that the demand for Bitcoin is created which causes the price to skyrocket.
How Jackocoins can help make your crypto trades easier
So, how do we stay on top of all this?
- Find a reliable exchange platform that shows real-time coin rates and has a crypto trading license. For that, Jackocoins has your back.
- Jackocoins provides fast payments and easy crypto storage with our advanced blockchain wallet.
- Crypto trading is about making the most profit. It won’t be right if you spend most of it on fees, right? Fees can eat into your profits, so find a platform with minimal fees. For example with Jakocoins, you enjoy zero transaction fees on all trades, which makes a big difference.
Remember, knowledge is power. Stay informed about Bitcoin trends worldwide and what’s happening economically in Nigeria. The more you know, the better your decisions will be. Simply download the Jackocoins app or sign up on the web to get started.
Now go forth and conquer that tough BTC to Naira transaction with Jackocoins by your side!
Till next time!
Visits: 9