The price of bitcoin is surging on the back of increasing investor interest, with the value of one coin passing US$19,000 last week.
This is a massive increase, which makes Bitcoin now more valuable than gold. At the beginning of the year, one bitcoin was worth less than US$1,000, but is now projected to soar well beyond even this new high.
Bitcoin is renowned for peaks and troughs, but this is an unprecedented period of sustained growth that is attracting major institutional investors. More than 100 hedge funds have begun betting on the cryptocurrency, while Cameron Winklevoss, one of the largest holders of bitcoin globally, thinks this year’s gains are just the start and the price will rise by as much as 20-fold as more investors enter the market seeing the cryptocurrency as an upgrade to gold.
Meanwhile, the first ever bitcoin future was recently released. The virtual currency made its debut on the Chicago Board Options Exchange over the weekend, and surged more than US$3,000 to US$18,010 within four hours. It seems all sorts of bitcoin trading is becoming more popular as the value grows.
What is behind this huge growth in value is difficult to pin down, but there are a number of possible factors. A growing number of global companies are accepting or supporting bitcoin transactions, while there is an upper cap on the total number of bitcoins that can be mined, meaning there is limited supply to meet demand. As the value grows, more investors are realising both how revolutionary the technology is and the fact it offers potential for serious returns. Nobody wants to be sidelined.
So how do Nigerians go about buying bitcoin and making sure they are part of this amazing growth story? The answer lies in homegrown company NairaEx, which is Nigeria’s leading bitcoin exchange in Nigeria with more than NGN1 billion naira worth of monthly transactions.
NairaEx sells bitcoin directly from stock and delivers within hours for the quoted rate without any hidden fees. It is not necessary to have any special skills or experience to start trading on the platform, which has made the trading process as functional and as simple as possible so that anyone can master it.
All you have to do to get started is create a new user account, place an order and make payment.
How to Buy Bitcoin
- Complete NairaEx account verification (Email government issued ID card like driver’s license, voters card, international passport etc to NairaEx support.
- Login to your NairaEx account, click on create new order.
- Fill out the Buy form (select bitcoin, enter bitcoin or Naira amount, bitcoin address and submit).
- Pay the described amount in Naira to the NairaEx bank account shown on the confirmation page and marked as complete after deposit. Online, mobile or ATM transfer and deposit at any local branch of the bank are accepted.
- Email the proof of payment (teller, payslip, statement or transfer screenshot etc) to NairaEx support and your order will be funded within 2-8 hours after your deposit has been verified.
How to Sell Bitcoin
- Login to your NairaEx account, click on create new order.
- Fill out the Sell form (select the bank account you want us to pay into, enter bitcoin or Naira amount and submit).
- Send the described amount in bitcoin to the NairaEx bitcoin address shown on the confirmation page.
- We’ll send you the Naira within 2-8 hours of the funds being confirmed.
NairaEx is the fastest and safest way of buying and selling bitcoin available today in Nigeria, and helps you find your way when it comes to becoming part of the fastest-growing cryptocurrency scene in the world.
