Post
Topic
Board Nigeria (Naija)
Re: My view on whether Bitcoin is the safest and cheapest way to receive money
by
Sticky Bomb
on 07/09/2025, 18:20:30 UTC
Bitcoin may be a fast and cheap means to receive funds especially from overseas, yet it isn't usually the safest or even cheapest for all. There are fees which depends on the network at that particular time, and the price is volatile too. As for safety, it protects when you have knowledge on how to store properly, yet when careless, you may lose all your money. Therefore it is good but won't be said to be the best choice for all situation.
Talking about safety, I'm yet to see a move service way of sending funds around better than Bitcoin. Bitcoin transactions are immutable and and as long as you broadcast it with the acceptable fee rate, your payment must reach it's destination. The only exception is when your wallet is compromised and funds sent to your address is hijacked, then it isn't a problem with Bitcoin safety itself but a problem your safety practices with your wallet.