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Crypto News Lagos And Bitcoin, What You Need To Know!!!!!

Discussion in 'Cryptocurrency News (HAPPENING!)' started by durad, May 15, 2019.

  1. durad

    durad Rookie!!!

    e9f76412-2e9e-11e8-9b4b-bc4b9f08f381.jpg-Lagos And Bitcoin, What You Need To Know!!!!! istockphoto-535420069-2048x2048.jpg-Lagos And Bitcoin, What You Need To Know!!!!! gettyimages-856753992-612x612.jpg-Lagos And Bitcoin, What You Need To Know!!!!!

    Lagos, Nigeria has the largest volume of online searches for Bitcoin (BTC). This shows a high level of interest among the city's approximately 21 million people however it is yet to equate to the adoption of this trend of technology. “Lagosians” who are aware of the existence of Bitcoin see this top-ranked Cryptocurrency as a substitute for the United States dollar, since Payment companies like PayPal do not allow Nigerians to receive money transfers from abroad, this is necessitated by the ill repute of internet fraudsters in the country while other companies that offer such services charge high fees. This is according to a write up from Google Trends.

    The National Bureau of Statistics reports that Nigeria's unemployment rate rose to over 23 per cent in 2018. In a city like Lagos, many university graduates make a living as freelancers, offering services from copywriting to website design and even computer programming. This is accounted for by the increasing increasing rate of underemployment or unemployment in the city. Many youths have sought to try their hands outside the traditional working environment.

    Given that most of their clients are based overseas, there can be issues of receiving payment for the work carried out. But now, with a BTC wallet and surplus of local exchange platforms, the freelancers can receive payments easily from clients all across the globe. Business owners are also using Bitcoin and Altcoins(e.g. Litecoin, Ethereum) as substitutes for foreign currency and do away with banks. Victor Alagbe, the Chief Operating Officer (COO) and Blockchain Strategist at OneWattSolar which is an energy startup looking to leverage blockchain technology to boost renewable energy adoption across Africa, in a message to Cointelegraph, said “I see crypto taking up a strong position in the remittances space. It’s often cheaper, less stressful (in terms of documentation) and faster to send and receive crypto. Many younger folks in the diaspora are now leveraging crypto to send money back home. Some techies working remotely are also getting paid in crypto.”

    This just shows how the crypto community has been able to involve over the last 10years despite all efforts by specific people to sabotage its relevance

    Check- naijacrypto.com
     
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