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What is the primary issue with money in Nigeria?
Nigeria's economic position has been difficult, and Nigerians have faced three primary challenges: safely holding their money, spending it easily, and earning in a stable currency. Nigerians now have a solution to all three difficulties stated below thanks to Bitwage, a Crypto Payroll Service that allows you to get paid in Bitcoin regardless of who you work for.
Given the continuous increase in inflation and the diminishing purchasing power of money, an urgent solution is necessary.
How does Bitwage operate in practice?
Ifunanyachi Achara is an international professional athlete. He was concerned about how to get paid most efficiently and how to have a portion of his earnings forwarded to his family in Nigeria. The flow would be the same if he were playing in Africa.
So he joined up and received access to a bank account that we offered him, which he then shared with his club. He informed them, "This is the bank account into which I wish to be paid." And he set it up on our end in such a way that part of his money goes to his family in Nigeria as Bitcoin. So, when the club makes a local bank transfer to that bank account he shared with them, he receives money in the form of Bitcoin, with a portion going to his family as well. Bitwage provided a flawless solution for Ifunanyachi. So, let's look at the three primary issues that Nigerians have when it comes to money and how Bitwage and Bitcoin are helping. Let's start with challenge number one: keeping money safe.
Problem #1: Storing Money Safely
Nigerians want a secure place to keep their money, particularly one where it would not depreciate. The value of the local currency has been declining, and traditional banks are untrustworthy and unlikely to provide a remedy. With Bitwage, you can be paid in Bitcoin for your remote work and save your money in BTC as well. A decentralized currency that is not susceptible to inflation. And, sure, if you have a long-term preference, Bitcoin is the ideal choice since it is the hardest money ever invented. There will only ever be 21 million Bitcoins. And that's it.
Bitcoin has no firm or CEO and cannot be bribed.
Problem #2: Spending Money Conveniently
Nigerians need a convenient method to spend their money, especially because Nigerian banks have been untrustworthy with payments and you cannot access your own money when you want to. Bitcoin makes it simple. The Bitcoin you received as payment for your efforts is genuinely yours and under your own control. We do not have a wallet or custody, which means we deliver you what is yours so you have complete control over it at all times. You may send payments in Bitcoin whether it's the weekend or not. Nobody on the planet can halt Bitcoin or your payment.
Problem #3: Earning in a Stable Currency
Nigerians who work remotely for firms outside of Nigeria require a method to earn in a stable currency that is not affected by naira inflation. You may receive your pay in Bitcoin, which is not susceptible to inflation, through Bitwage. Furthermore, using Bitwage gets you more for your money and you receive it faster. It's also great to have access to various bank accounts via us to which you may receive payments from any company in the world. They do not have to use the service. And you do not have to ask them for permission.
And how does it function? All you have to do is sign up for and copy the bank accounts we give you.
You provide them (or to whoever is paying you), and while they make a local bank transfer to that bank account, you will receive Bitcoin. You will not have to wait days for your money if you utilize our premium service, since you will have access to your Bitcoin the very same day. And the firm that made the payment is not required to be onboarded and has no idea what happened or that you are receiving Bitcoin on your end.
It doesn't get much more smooth than this. It is quite simple to use for all parties.
For individuals who desire to maintain cash in something close to USD, there are stablecoins that are tied 1:1 to USD, making it appear as though you are storing US dollars. The same stablecoins you may sell and liquidate whenever you need local cash, maximizing the value of your efforts. On our end, we also provide stablecoins as an allocation alternative, so you can get paid part in Bitcoin, and part in stablecoins. You can even combine both. It is entirely up to each individual and their preferred method of payment.
With Bitwage, Nigerians now have a secure, easy, and dependable way to save, spend, and earn money in Bitcoin. Of course, Bitcoin fluctuates, and you should have a long-term preference. But there would be no potential for upside if this was not the case. So forget PayPal and all other options and say welcome to Bitcoin and Bitwage, the future of payment in Nigeria.
We assist many Nigerians in obtaining funds from overseas, and we can serve and help you as well.
Sign up immediately and start receiving payments from overseas in the currency of your choice with Bitwage.
A more efficient, less expensive, and more effective method of payment.