Bitcoin Exchange Rate – It is no longer news that the price of bitcoin is on the rise, how much 1 Bitcoin is valued in exchange rate for your currency. It will be very wise to know the current BTC Exchange rate.
Bitcoin Exchange Rate
The exchange of Bitcoin will be determine how much USD sells in your currency at that particular time. For Instance Bitcoin is cryptocurrency while Naira is the Nigerian currency.
At the moment, the Bitcoin (BTC) to Naira (NGN) Exchange Rate is shown below;
1 BTC = ₦6,196,901.56
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Have you been perturbed about the following.
Do you know the value of Bitcoin to Naira? Do you the exchange of 1 Bitcoin to Naira? Do you also know the factors that influence the value of Bitcoin to Naira? Then, this article will put you through all those. You will also learn both the official and Black Market Exchange Rate as it stands today.
How many Naira makes 1 Bitcoin?
What is the official exchange rate of Bitcoin?
What is the black-market exchange rate of Bitcoin?
The main reason Bitcoin value to Naira continues to vary daily is because it’s not regulated by the Central Bank of Nigeria, there is high level of fluctuations even on daily basis.
Nigerian Naira (NGN) – Learn About Naira
The currency of Nigeria is Naira. It is the major source of exchange rate and all manner of accepted transactions. Just like the Dollars is sub-divided into cents, the Naira is sub-divided into Kobos.
Sub-Unit: 1 Naira = 100 kobo
Across Nigeria, the only agency with legal backup and ability to tender money is the Central Bank of Nigeria (CBN).
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On 31 October 2008, Bitcoin was introduced to a cryptography mailing list and released as open-source software in 2009.
Bitcoin is both a cryptocurrency and an electronic payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.
About Bitcoin (BTC)
Major Factors Influencing the Bitcoin Price – Factors Affecting Bitcoin to Naira Exchange Rate
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The major factors influencing the value of Bitcoin to Nigerian Naira include;
Government policy regulation
Stability level of Bitcoin Network
Demand and Supply level of Bitcoin
Changes and innovations in technology
Bitcoin Level of acceptance
Market manipulations by brokers
Large Businesses Dumping to Fiat Currency
Bear in mind that the factors that influence the Bitcoin to Naira exchange rate are so numerous. Even though we know Bitcoin is high at the moment, it can either fall or continue to rise with time
For questions and Contributions about Bitcoin Exchange rates, use the comment box below.