Many countries around the world, including Nigeria, have accepted BTC with open hands. Recent data shows that Africa’s largest economy, Nigeria, is leading other African countries in Bitcoin usage.
BTC has proven in recent times to be very sustainable. It is still up 33% since the beginning of the year. Why? Many crypto traders and investors continue to favour it as a store of value that will not be devalued or thrown into turmoil by economic collapse; unlike fiat currencies that have unlimited production capacity and subject to be impacted by local and foreign policies.
Notable as many Nigerians continue to have challenges receiving payments from clients locally and abroad. Patricia helps by providing services many Nigerians are not allowed to use, with very affordable transactional cost, fast and also have a flexible verification system.
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Patricia, a proprietary platform and ecosystem designed on the basis that BTC offers already a flexible, fast-moving, and cheaper means of making cross border transactions after rendering their services to businesses and their clients.
At Patricia, we believe the future of payment is digital currencies. BTC seems to be driven by investors and currency traders who believe crypto-currencies will have some futuristic obligations in international bank transfers and interbank lending markets.
In Africa, the demand for the flagship currency continues to grow at a steady pace because many Africans seem to be bolstered in purchasing BTC to preserve their wealth especially when they feel that their local currency is highly unstable, especially in commodity-driven economies like Nigeria.
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The many economic challenges in Nigeria, including the devaluation of the naira and surging inflation, have made the naira a poor store of value, pushing some to Nigerians to store their value in deflationary assets like BTC which can protect its owners from printing money central banks and other economic uncertainty.