Post
Topic
Board Beginners & Help
Merits 2 from 1 user
Re: I want to convert my money to bitcoin because of our current banking system in m
by
Obari
on 03/03/2023, 21:20:50 UTC
⭐ Merited by fillippone (2)

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?

Bro I think you should first of all get a proper knowledge of crypto before thinking to get involved with it as there is a very high volatility involved in it, which implies that nothing (profit/loss) is guaranteed in crypto.
Secondly I also want you to understand that Bitcoin or crypto isn't an alternative for banks  as I'm very sure that there are very few Marchants who will want to accept Bitcoin as a legal tender because even with the cashless policy in Nigeria, alot of persons and businesses are weeping because they can't do mobile transactions and I'm sure the transaction fee of crypto is another area of concentration.
So personally I wouldn't advice you to transfer all your money into crypto but you should rather invest what you're willing to lose.