A lot of Nigerians are now looking for ways to protect their money from the falling naira. Two of the most common options are Bitcoin and USDT.
Bitcoin has the advantage of long-term growth, but it is very volatile. The price can rise in a week but also drop badly. USDT on the other hand is stable since it is tied to the dollar, but it doesn’t increase in value, it only protects against naira depreciation.
So the question is, for someone in Nigeria who just wants to save money safely, which is the better option: Bitcoin or USDT? Or should people combine both?
Would like to hear from others who are already using these methods to save.
For me I would prefer using both platforms, and the reason is due to the advantages that are associated with both platforms even if the dollar seem to be more stable in terms of volatility which I think could be more preferable to the Bitcoin, the situations that affect the value of the dollar are not as swift as that which affect the Bitcoins re but one unique advantage that the bitcoin has over the dollar is that when it rises it's value surpasses that of the dollar and same applied when it also drops in value.