Perfect money has often been confused for Bitcoin due to the similar purposes that they appear to serve for people who are not conversant with the origins of Bitcoin and how much better user experience is with the apex cryptocurrency than with Perfect Money. Perfect Money and Bitcoin Perfect money is a financial service that offers instant payments through the internet for users of the internet...
“You know what my problem with man is? For everything that has the potential to become beautiful, man can turn it into something ugly.” – RR The above quote echoes the current sentiment around the cryptocurrency industry, as more schemes using Bitcoin as payment methods continue to rise. While this is alarming, what is more, worrisome is the gullibility of the victims of these...
Bitcoin will undergo supply cut today May 11, 2020, during the time governments around the world are printing more money and increasing debts in order to combat the economic effect of the COVID-19 pandemic. Nigeria’s total debt profile now stands at N33trillion and is expected to reach an unprecedented level. What’s Bitcoin halving? It means that the amount of new bitcoin being generated and...
In the month of May 2020 Nigerians contributed to $35 million in Bitcoin transactions, further emphasizing the role of Africa’s most populous nation as the leading economy on the continent for Bitcoin. $35 Million in Bitcoin Transactions and Counting Nigeria dominated Africa’s cryptocurrency markets with the highest volumes of Bitcoin transactions by Nigerians over thirty days. The volume of...
Major Chinese cryptocurrency miners are betting on increasing Bitcoin investments in the next six months which will help keep them in business after the May 12 halving. The sentiment was found in a survey conducted by crypto services firm RockX on May 4, 2020. According to this survey, approximately 57% of the total Chinese cryptocurrency miners believed that a large influx of new investors was...
There is much to be gained from taking a deep dive into Bitcoin. The learning experience is rewarding in more ways than one. Not only can you gain monetary benefits but also, you gain a deeper understanding of the world of finance. Key buying and selling strategies open up windows of opportunity for traders of Bitcoin. Dollar Cost Averaging Dollar-cost averaging is a method by which one...
In cryptocurrency circles there is considerable discussion going on around the May 2020 Block reward halving. Previously, two halvings were undertaken back in 2012 and 2016. Let us discuss briefly what is this halving and how previous halvings impacted the cryptocurrency’s price. What is Block Reward Halving? Every 10-12 minutes, 12.5 new BTC are created by the Bitcoin network and...
1. Nigeria Will Face a Recession in the Future Most developing economies like Nigeria expect their economies to go into a downturn in the coming months. The nation is still gasping for breath after being beaten severely by a 2016 economic recession. The nation’s pace of recovery has been slow, despite achieving a milestone: 2.55% gross domestic product (GDP). History has shown that bitcoin can be...
Price Retracements as Markets Face the Coronavirus Woes Price retracements have been witnessed in numerous sectors, including the cryptocurrency markets. Sliding bitcoin prices pose questions as to whether the cryptocurrency is really a safe-haven commodity. As a consequence of many factors, like the coronavirus, the economies have encountered major obstacles to the sustainability of their...
The Bitcoin halving is approaching. Bitcoin halvings are scheduled to take place once every 210,000 blocks (every four years)- until the maximum supply of 21 million bitcoins has been made by the network. Bitcoin halvings will continue to take place until all Bitcoin is supplied. The Halving Effect Source: Fintechna When the halving occurs, the mining rewards for BTC, BCH, and BSV will be reduced...