I live in Nigerian and since our presidential election,the our local fiat became scarce due to change in the newly redesign of the currency which makes it difficult for most people here to get physical cash for business and daily transactions because the banking system is overloaded with too many internet transactions making it hard for me to access my cash. So now I want to convert my whole cash in my bank account to bitcoin but dont know if is a good idea for me or not. I know in crypto world, it will be easy to access my money but the issue is, will my money be same value when I invest all of it in bitcoin .
Because literally in banking system for example, if you have $5000 that will be the value in 3 to 5 months and will add a little interest in it so my question is- I don't fully know how bitcoin works. Is it the same way with the banking system? Will I get more value or less value in future times?
It will better you know more about bitcoin first before you just decide to convert all your money to bitcoin, don't just jump into bitcoin investment because you hear people investing in bitcoin so that you won't endup losing your money.
I think the Supreme Court just order that the old #200, 500 and #1000 should remain in circulation till December 31 2023. am sure with this news things will go back to normal gradually (
https://twitter.com/channelstv/status/1631616327562428416?s=46&t=JQaZa0X1IpqmjaFtOjOY8Q).
Also Nigeria is also having a local board on the forum already, I think it will be better if you can be active on the local board, am sure you will learn lots of things from the local board and how you can easily convert the money in your bank account into bitcoin (
https://bitcointalk.org/index.php?board=275.0).