The newest forms of online payment, cryptocurrency is becoming faster and more innovative in its uses. It is finally giving the user what they want, total control over their money. Swiftypay offers you the best rates. Simply start your exchange right now. Sign up for our parther program and earn commission from each exchange. The earnings are credited in your account instantly and can be withdrawn right away.
Bitcoin is the oldest and first digital currency that was introduced. It has the highest exchange volume to date as well as its exchange rate. The blockchain technology allowed users to make a transaction directly without any third party hindrance. Bitcoin Cash was born out of the original Bitcoin with a new blockchain network with a separate set of rules and regulations. Apart from being a new and different digital currency, Ethereum is also a decentralized computing platform. Its crypto token is called Ether which is also mined in a similar way to Bitcoin. Ethereums’ network platform also helps to build apps and uses a technology called Smart Contract. This additional function makes it the second highest digital currency used to buy & sell digital currency in Nigeria. A technical divergence in the Ethereum network led to the creation of Ethereum Classic. Developed in 2011, Litecoin was built on the blockchain network as an alternative to Bitcoin to improve on its shortcomings. Its exchange volume, affordability and lightning network speed are the reason why many newcomers who want to buy & sell digital currency in Nigeria are attracted to it. As the digital currency market grows so does it potential and impact in the economy’s future.The Benefits and Risks of Digital Currency
Block chain technology that is used by digital currency is slowly putting an end to complexities and problems that come with financial transactions. When you buy & sell digital currency in Nigeria not only are costs drastically reduced but there is absolute transparency in every step. The transactions cannot be reversed or duplicated and its applications can impact a variety of sectors. Cryptocurrency also provides anonymity and completes financial transactions without requiring any additional information. Since it is decentralized, it is not bound by any economic law or exchange rate making it all the more quicker and convenient to buy & sell digital currency in Nigeria. Price volatility and non- government backing makes digital currency risky. Changes in the market as well other factors can swing the prices significantly. Unlike traditional currency, cryptocurrency is relatively new and its overall effect on the financial stability of the world economy is yet to be realized..