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As the cost of goods and services continues to surge daily in Nigeria, posing challenges for individuals and households in meeting their basic needs, James Otudor, the Community Manager of iPayBTC, a leading cryptocurrency platform, has urged Nigerians to invest in digital currency as a means to combat inflation.
Otudor shared this advice during an interview with journalists in Calabar, the capital of Cross River State, on Saturday, addressing ways to overcome the inflationary pressures affecting the nation’s economy.
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He emphasized that the most effective way for Nigerians to counter the escalating inflation rates, which have severely impacted the nation’s economy, is by converting their money into digital currency.
Providing insights into cryptocurrency, with a claim that it remains the best among several options, Otudor highlighted the capacity of the crypto platform to offer instant and cost-effective digital currency transactions for users of the Bitcoin platform.
He mentioned, “The lightning network’s design facilitates almost instantaneous transfers with significantly lower fees compared to on-chain transactions.
This speed and cost efficiency enhance the practicality of using Bitcoin for everyday transactions, making it a convenient option for sending and receiving funds locally and globally.”
Furthermore, Otudor stated that iPayBTC positions itself as a tool for hedging against inflation, which has adversely affected the economies of many nations.
By utilizing iPayBTC’s wallet, Nigerians can safeguard their money from inflation, utilizing Bitcoin as a hedge.
“As iPayBTC revolutionizes the Bitcoin wallet landscape in Nigeria, it aims to become the preferred platform for individuals and institutions seeking a gateway to the vast potential of Bitcoin.
The platform’s dedication to security, innovation, and community building positions it as Nigeria’s number one Bitcoin wallet, especially with its groundbreaking Lightning Network feature,” he added.
