NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.

The Differences Between Perfect Money and Bitcoin


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 and owners of businesses on the internet. Perfect money is designed to enhance online experiences in ways that fiat money cannot. It is essentially a payment system like PayPal.

The following services are promised with Perfect Money:

  • Receive payments in online business projects
  • Make regular payments online
  • Store money in electronic accounts and gain interest
  • Pay for goods and services online
  • Buy Bitcoin, Gold, USD, and EUR currency

Unlike Bitcoin users, Perfect Money users have been subject to disproportionately high risks of losing their money. Research reveals that some users of Perfect Money were not able to get their money returned after using the platform. A Perfect Money user complained of receiving an email from a scammer pretending to be Perfect Money. Upon clicking a link in the email, they lost all their money.

Other users of the platform have expressed concerns about the amount of money that they are allowed to hold in their accounts. A user complained of their account being blocked due to over $1500 being held. For users with relatively larger amounts than $1500, Perfect Money may present challenges that Bitcoin does not.

Bitcoin Preferred Over other Payment Methods

Bitcoin was created over ten years ago to put the power of finance in the hands of people. The cryptocurrency is the most transparent form of finance ever created in history. Users are easily able to track their transactions and audit transactions to stay safe while they transact.

Less technical expertise is typically required to purchase Bitcoin with Perfect Money. Some users choose to use the platform to buy Bitcoin from their cryptocurrency exchange and store the value in their Perfect Money accounts. This method, however, is not always safe. Without a secure cryptocurrency wallet system like that of NairaEx, a user puts themselves at unnecessary risks of losses. Cryptocurrency wallets are designed to be more secure than most methods of making financial transactions.

Around the world, different corporations are making it incredibly easy for Bitcoin wallet holders to make purchases. for example accepts Bitcoin in certain online stores while accepts Bitcoin for travel purchases.

In Africa, a platform like Perfect Money is not convenient for the average Nigerian to use. In contrast, the NairaEx Bill makes the process of paying bills as smooth as possible for Nigerians. With NairaEx Bill, users can purchase airtime/data, cable subscriptions (DStv, Gotv, EKEDC), and electricity.

Although Perfect Money may be presented as a stable investment opportunity, new research shows that Bitcoin has gained significant resilience over the years, so much so that it has surpassed gold in many respects.

According to Goldman Sachs,

“Though the [bitcoin] bubble collapsed as dramatically as it inflated, bitcoin has rarely traded below the cost of production, including the very disorderly conditions..though bitcoin saw among the most severe drops in liquidity around the peak of the crisis, that disruption unwound itself much faster than other asset classes.”

A group of analysts at Goldman Sachs found that Bitcoin is more resilient than gold. The cryptocurrency has managed to beat the odds, despite the tumultuous market conditions caused by global economic challenges.

It is important to have a reliable platform that you can trust to trade your Bitcoin with. NairaEx has offered superior services for years, using industry-leading standards that are tried and tested to ensure that customers can trade and hold their Bitcoin with confidence.

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By NairaEx
NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.