Bitcoin is wooing the millions of workers who send their earnings abroad ...Middle East

Quartz - Economy
Bitcoin is wooing the millions of workers who send their earnings abroad
source : Quartz ( Middle East ) () 9
Even if bitcoin loses favor with the celebrity backers helping to boost its value, there are legions of lesser-known diehards standing by its side.That’s partly because the wildly popular cryptocurrency is not just a hot investment for hedge funders and corporate moguls—it’s become a cost-effective way to transfer money throughout the developing world. Nowhere is this clearer than in Nigeria, where the central bank is so worried about Nigerians choosing cryptocurrencies over the naira for overseas remittance payments that it is now paying them to use official channels for those transfers instead. The central bank announced the scheme after international remittances inflows plummeted last yea

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