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 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...
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...
As the month of September comes to a close, Nigeria’s Security and Exchange Commission(SEC) recognizes cryptocurrencies as securities while the Bitcoin network passes 18,500,000 incirculation and a Canadian software firm put 40% of its cash reserves into Bitcoin. Nigeria Securities and Exchange Commission Regulates Cryptocurrency Nigeria’s Securities and Exchange Commission (SEC) in a landmark...
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...
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...
What is the best Bitcoin alternative? Is there even another cryptocurrency worth investing in? Many Nigerians can no longer afford to invest in a whole Bitcoin. The race is, therefore, on in Nigeria to identify the best altcoins to invest in ready for 2020. Here at NairaEX, we can’t say for certain what these coins are. However, we do have five favorites. What is the Best Bitcoin Alternative? No...