2020 was a wild year, mostly because of COVID-19. It made us question how the world works, especially in terms of finance. Regular stocks lost value while cryptocurrencies gained. And Nigeria wasn’t left out of the action.
Currently, Nigeria is the second largest Bitcoin market after the US in 2020. But why the sudden interest? You can say that foreign currency restrictions played a key role but apart from that, people bought Bitcoin just to hold and they made a profit. So let’s look at the numbers.
Anyone who started 2020 with a ₦1 million investment in Bitcoin would have over ₦3.4 million in December. Who wouldn’t be interested in such growth especially with how the year turned out. You may have missed out on Bitcoin’s 242% profit margin this year. But 2021 is a fresh year for investments you can reap by the end of the year.
You must be itching to buy Bitcoin after seeing the numbers, but slow down. There are many cryptocurrency exchanges but picking one is like picking a barber or hairstylist. You’ll want an exchange you can trust to always put you first. This means that a great exchange especially for someone who’s just starting, should have the following:
- A free and easy sign up process
- A way to buy or sell Bitcoin and receive it instantly.
- A process to sell, send, receive, and store your Bitcoin securely without making you think too much.
- Other profitable cryptocurrencies like XRP, Litecoin and Ethereum in case you want to try something new.
- Customer support that responds to all your issues.
Several cryptocurrency exchanges in Nigeria offer these qualities. One example is Quidax which has a website and mobile app that anyone can use. Bitcoin is a whole new financial world that’s different from what you’re used to. But remember to research and look for ways to get the best out of your investments.