With recent technology advancements, Nigerians are also jumping on the trend of virtual currency despite warnings.
What would you do if your friend told you they invested N10,000 and made N210,000 two years later and it wasn’t a pyramid/ponzi scheme but Bitcoins!
Created by a group of programmers in 2009, Bitcoins are a cryptocurrency used to facilitate online transactions. December 2016, saw Bitcoins go up in value by 50% to $640 - fast forward to present day, one Bitcoin is valued at 1,650,000 NGN ($4,255). In most cases, several people come together to own one bitcoin because of how expensive it is. The coin is decimated because there are one million bits in one Bitcoin.
The demand for the Bitcoin is what increases its value. This demand has turned people who invested money in the virtual currency years ago into millionaires.
Full story at Pulse NG.
By Princess Irede Abumere.
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