Nigeria's online shopping market is getting bigger, and using cryptocurrency payments can help it grow even more. By accepting cryptocurrencies like Bitcoin, Nigerian online businesses can make more sales.
1. With cryptocurrency payments, Nigerian online businesses can sell to people in other countries, easily and safely. This means they can reach a global customer base, without worrying about borders or currency exchange.
2. Cryptocurrency payments are fast, secure, and protected from fraud. Transactions are processed quickly, and businesses can receive payments without worrying about chargebacks or fraud.
-cut-
What do you think?
I don't get these arguments:
1. How come Nigerian online businesses can't sell to other countries safely, by using other forms of existing online payments?
2. What do you mean by protected from fraud? Word scam is pretty much the first word that comes to mind if you ask any no coiner, and even the cryptocurrency holders admits that most problematic parts in this scene are fraudsters and scammers. So what's the fraud crypto is protecting us from? Blockchain is immutable and transfers irreversable, so it has been a perfect tool for scamming. Only recently because of KYCs and new laws it has become more difficult way to cash out stolen money.
Other points like cheap fees are a good point, but complexity of crypto taxation is (i guess) the main reason it's not worth the hassle in most regions. That's not the fault of crypto, but reality in many areas.