Bitcoin to Naira Exchange Rate Today – Bitcoin to Naira Exchange Rate for November 2019 | What is the Bitcoin (BTC) to Nigerian Naira (NGN) Officially and Black Market Exchange Rate Today.
This article will give answers to questions like;
- What is Bitcoin?
- What is the current Bitcoin to Naira black market exchange rate today?
- How much is 1 BTC in NGN black market?
- Convert Bitcoin to naira in the black market rate.
- Who invented Bitcoin?
The BTC to Naira exchange rate in the black market is not pegged as CBN rate, as such, it fluctuates daily. For this regard, this page is updated frequently with the latest exchange rate for Bitcoin to Naira, we advise you to Bookmark this page.
Bitcoin(BTC) to Naira(NGN) Exchange Rate Today
1 BTC to NGN = N 3,321,206.79
About Nigerian Naira (NGN)
|Sub-Unit:||1 Naira = 100 kobo|
The naira is the currency of Nigeria. It is subdivided into 100 kobos. The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation.
Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate.
About Bitcoin (BTC)
Bitcoin is both a cryptocurrency and an electronic payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.
Bitcoin was introduced on 31 October 2008 to a cryptography mailing list and released as open-source software in 2009.
Key Factors That Influence The Bitcoin Price
- Government Regulation
- Media Influence
- Stability of the Bitcoin Network
- The Bitcoin Demand and Supply
- Wider Mainstream Acceptance
- Large Businesses Dumping to Fiat Currency
- Technological Changes and Innovations
- Market Manipulation
However, factors that influence the price of bitcoins are quite diverse. Some of them are slow but quite steady, such as the gradually rising supply and demand curve. Others are sentimental and violent, like the speculative trade, which influences the trading of bitcoins each day.
In spite of the opposing forces, which often exert their influence on the bitcoin market, the long-term average price seems to be on the rise.
Note that learning about these factors will not necessarily make the bitcoin price more predictable. However, understanding them can help you to be more comfortable with the price fluctuations and make informed decisions at the right time.
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