The advantage I love about Bitcoin is that, unlike the CBN policy which limits the amount an individual or company can transfer abroad daily or monthly, Bitcoin has no such restrictions. In Nigeria, there are strict limits on the amount of money one can transfer both within and outside the country, and these policies are strictly enforced.

For example, someone wanted to make a payment to an institution in Malaysia. We tried using Mastercard and Verve, but it didn’t work until a friend in Malaysia helped make the payment on his behalf. That was when we realized the Nigerian government restricts the amount one can transact with Malaysia in a single day. Bitcoin, however, makes it possible to bypass such barriers.

In addition, A friend of mine has used btcoin to recieved money from abroad several times and it was very simple and fast.