What are cryptocurrencies?
A prominent cryptocurrency website, www.forex.academy, defines cryptocurrencies as digital value coins that can be used to buy a variety of things in the world. They can also be sold for a lot of money per coin. They are physical objects but they only exist in the data world. There are many types of cryptocurrencies in the world but today one of the most popular one is Bitcoin. If you own a Bitcoin you actually have a collective agreement from every computer that is on the Bitcoin network. People believe that Bitcoins and all the other coins can get you rich really fast but that is not the case. People spend a lot of time trying to find buyers for their crypto coins and that can be exhausting.
How do crypto values work?
The first ever crypto value announced was Bitcoin. After this, there were many cryptocurrencies that were released on the market. Once a new cryptocurrency is released, the owner announces how many coins can be acquired. There is only one way to get these valuable coins, and it is called Crypto Mining. This system is popular amongst a lot of people in the world but it is really expensive. You need a lot of computers with good components that will last long and won’t use a lot of electricity. The more computers you have the more coins you will mine. The computers finish a lot of tasks in a short period of time and each task can get you a part of the coin. Sometimes it is 0.001% and sometimes it is 0.1%. Once the coins are all mined out, the currency is closed and will never be opened again. Crypto values are legal in most countries but in some their legal status is still unknown.
Buying and selling crypto values in Nigeria
It is legal to go for online trading in Nigeria, or even buy and sell crypto values. Not a long time ago the first coin was released in Nigeria and it is named TBC (The Billion Coin). It is really similar to Bitcoin but at the same time it is different. There are even TBC Banks in Nigeria that buy/sell/trade with TBC. If you have some TBC’s and want to get rid of them, there is a few ways you can do it. You can exchange your coins for the local paper currency of Naira on some websites that trade with TBC but you have to be careful that you don’t get scammed. Be sure to do your research before you decide to buy cryptocurrency in Nigeria. One of the best sites where you can sell your TBC’s is thebillioncoin.trade. On this site you can register for free and put your TBC’s on sale. The best thing is that if you don’t even need to put them up to sale, you can also send other people offers which they may like and exchange your TBC’s for cash, other crypto values and more. Currently the value of 1 TBC is around 0.0016$