Bitkoin Africa Blog

Bitcoin Price Hits All-time High of $5800

Yesterday the price of 1 Bitcoin peaked at about $5800(2.1 million Naira) at around 3.45 GMT+1 this morning. This is the highest value of Bitcoin ever as more legal tender is being converted to the currency all around the world. The new record came a few hours after getting to a high of $5000. In a week Bitcoin has risen by over 30 percent and in 24 hours, over 13 percent. The price of other cryptocurrencies also saw a lift…

Introducing Dynamic Pricing

Bitcoin prices fluctuate often enough and a large part of trading is being able to take advantages of these differences in pricing over time. To let you take advantage of this, we’ve now made it possible to create Trade Postings that change with the current BTC price from Coindesk. Why Dynamic Pricing? Our users can currently create Trade Postings by setting their own custom Price per Bitcoin which determines the rate at which they buy or sell Bitcoin. This, however,…

Is Bitcoin Illegal in Nigeria?

Many Nigerians who want to invest in Bitcoin wonder what the law of the land says about Bitcoin as a currency. People who want to use Bitcoin as a means of sending money abroad or for purchases also worry whether they are committing a crime. This is largely because many governments around the world have outrightly banned cryptocurrency use as it can be a tool for criminals as a form of payment for illegal goods and services. Cryptocurrencies are used…

7 Reasons Bitkoin Africa is a better Bitcoin Exchange than LocalBitcoins

Bitkoin Africa vs. LocalBitcoins Bitkoin Africa is one of the many Bitcoin exchanges in Nigeria that allow the buying and selling of Bitcoins. In this article we will explain why Bitkoin Africa is the best Nigerian bitcoin exchange and in particular why it is better, safer and faster than LocalBitcoins. 1. Escrow All Bitcoin and money in Bitkoin Africa are held on Escrow. On LocalBitcoins, only Bitcoin is held in escrow. This means you cannot get paid fast enough and…

Tutorial: How to Create and Fund A Bitcoin Wallet in Nigeria

In this simple tutorial, we will teach you how to to create a Bitcoin wallet in Nigeria using one of several methods. A Bitcoin wallet is very useful for accepting, storing and sending Bitcoin. If you’re new to Bitcoin, please read What is Bitcoin? to understand the principles behind how Bitcoin works. 1. How to Create a Bitcoin wallet in Nigeria on Bitkoin Africa Bitkoin Africa is a new Bitcoin exchange opened for Africans to trade Bitcoin. The website is…

How to Invest and Make Profit from Bitcoin in Nigeria

In this article, we will be explaining how to invest in Bitcoin and make a profit in Nigeria. In the last one year, the price of Bitcoin has more than doubled on the market. This means that people who bought Bitcoin last year, can now sell it for double the price. This article is a guide on the simple tactics of buying Bitcoin and selling it to make profit. Bitcoin has gained popularity because it is not ruled or governed…

What is Bitcoin – A Guide to Understanding Bitcoin

What is Bitcoin? In the last one year, you’ve probably heard about Bitcoin a lot and you’ve been asking What is Bitcoin? This article hopes to explain it as simply as possible. Bitcoin is a worldwide distributed electronic currency and payment system. It is described as a decentralized digital money or currency because it is not hosted in one place and is peer-to-peer. This means transactions with Bitcoin take place between one Bitcoin owner and another Bitcoin owner. The system…