Bitcoin and blockchain technology is most certainly growing at a steady pace. Remember the hype that surrounded cryptocurrencies towards late 2017, looks like history is repeating itself. However, the data regarding the transactions made through bitcoin is available on blockstale.com which gives an insight on the average amount of confirmed bitcoin transactions overtime.
One factor that plays a key role in the increase of the bitcoin transactions is the use of Blockchain Technology, which uses a decentralised network of computers, to record data along with the technique of cryptography. The transactions are done peer to peer and do not require any central authority. Bitcoin is one of the first cryptocurrency sources to use the Blockchain Technology.
Talking about the transparency of these transactions, the Blockchain Technology manages it perfectly. Whenever a transaction is initiated via bitcoin, the network confirms the transaction, adding a new block to the chain. This happens because the network needs to verify ownership of the bitcoins and to be sure that the bitcoins haven't been spent beforehand. So the process requires a number of confirmations before it is completed. Countries around the world are recognising the potential of cryptocurrencies and Blockchain Technology. On an average, a Bitcoin ATMs are installed around the world on a daily basis. Multinational firms such as IBM and JP Morgan are keen to experimenting Blockchain Technology and some countries are already developing a state issued cryptocurrencies.
Now that the excellence of cryptocurrency is shown, one must consider the most secure source of trading ones digital assets. The best bitcoin machine vendors in Nigeria to Trade bitcoin with cash in Nigeria without a doubt is BLOCKSTALE. This is because you'll go through seamless transaction process in less than few minutes.
Meanwhile, the costs by using the traditional method to sending money abroad is certainly higher and slower than when the transactions are processed through Blockchain Technology. Statistics shows that remittance through blockchain technology hits $613 billion and are done instantaneously, this is a proven fact. So when next you need to send or receive cross-border payments, Kindly consider using BLOCKSTALE Bitcoin ATM, it is most certainly, one of the most effective method.
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