Though it is not perfect. Price instability, no tech know-how, and possible scams are real risks. Those who are relaxed with crypto and safety basics, it provides a to do option. For some others, it might just be more of a gamble rather than a solution.
What's your view a out this?
Scams doesn't only exist in cryptocurrency. It also exist in our traditional banks even means like western union through social engineering.
Using Bitcoin has lots of advantage than our current system like speed, cost (depends though) and not to mention Bitcoin not really having a transfer limit.
An issue I would pick with using Bitcoin is the regulatory scrutiny
Though the ban has being lifted
It's like police are not oriented to know that using Bitcoin doesn't make one a fraudster.
How much charge for sending money from foreigners through centralized medium like MoneyGram, Western Union and the rest to Nigerian bank, do you know?
Just checking whether the charge can be up to the transaction charge of Bitcoin $2.08 on trust wallet that's approximately 3200 Naira.
If the Western Union transaction charge is less or higher than Bitcoin, let's get the comparison from there.
It depends but in average Bitcoin is cheaper. You can check their website for further details.