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[Ben Kempton]

There are many different sorts of countries in the world that have been adopting cryptocurrencies. Africa is also playing a really big role when it comes to cryptocurrency adoption. However, the fact is that not all the countries in Africa are adopting cryptocurrencies at a regular pace and rate. Kenya is certainly one of the best countries and it has been adopting cryptocurrencies for a long time. However, right now it looks like cryptocurrencies have been adopted by Nigerians at a much high rate comparatively. This study was conducted after the data from Chainlysis was analysed.

 

[fiery phoenix]

Not surprising concerning Nigeria,but concerning Kenya Im surprised.Crypto adoption occurs faster in fast developing countries,and Nigeria besides South Africa and Algeria is one of the fastest growing economies in Africa,as its GDP ranks in Africa's top 3,so their economic advancement make them a hub a fast crypto adoption.

 

[Ben Kempton]

Not surprising concerning Nigeria,but concerning Kenya Im surprised.Crypto adoption occurs faster in fast developing countries,and Nigeria besides South Africa and Algeria is one of the fastest growing economies in Africa,as its GDP ranks in Africa's top 3,so their economic advancement make them a hub a fast crypto adoption.

South Africa is definitely one of the best economies in Africa, but the policies and regulations in the country are quite different in there. The taxation rate of cryptocurrencies is quite high in there. This may not be the case in Nigeria, despite the fact that the Nigerian government restricted usage of cryptocurrencies at a high level.

 

[Horia_10]

The Nigeria is the most developed and highest educated country in Africa and many big exchanges have invested in educating the country , South Africa in comparison have low reserves and that's why their Crypto laws are stricter which have made the life of investors difficult there so you don't see much investment there actually in Crypto market .

 

[btaliat]

I am not disputing the source of the news but I will make concerned about the year the news and study were conducted. Since February 2021, there has been partial ban in the Nigerian crypto market. That's why it is practically impossible to deposit Naira, the Nigerian currency, directly on any trading platform lest your account being banned. So I don't know how true the report is.

 

[magnus2022]

Nigeria is over 200 million people and there possibility that Nigerian population have passed the mark. Three states in Nigeria is bigger than Kenya. Therefore there is no doubt about Nigeria toppling the chart of cryptocurrency adoption. Though, Nigeria government banned crypto due to political issues, Nigerians still use and trade crypto with P2P.

 

[Riberet19]

I am very happy to see that countries in Africa and less developed countries are realizing the value of certain cryptos such as bitcoin to promote change, I also believe that African countries are very advanced in the issue of mining and much of the world hash rate is scattered throughout Africa.

 

[Skysaint]

I really cannot price this but one thing that I am very sure of is that people in my country Nigeria bus very enthusiastic about investing and trading in the cryptocurrency market. I was a bit surprised in the past when I saw a group of minors talking about their investments in the cryptocurrency market and it's just overwhelming.
So it's no surprise for me to learn about this very news.

 

[BullyMaguire]

I am not disputing the source of the news but I will make concerned about the year the news and study were conducted. Since February 2021, there has been partial ban in the Nigerian crypto market. That's why it is practically impossible to deposit Naira, the Nigerian currency, directly on any trading platform lest your account being banned. So I don't know how true the report is.

Wondering about this as well. I remember the ban it caused a lot of ruckus as well but i never heard about them lifting the ban yet.. then news about them being on top of the adaption rate is getting higher if they didn't lift the ban then it was the people's doing that it is still being on top in SA.

 

[btaliat]

Wondering about this as well. I remember the ban it caused a lot of ruckus as well but i never heard about them lifting the ban yet.. then news about them being on top of the adaption rate is getting higher if they didn't lift the ban then it was the people's doing that it is still being on top in SA.

The only modification now is that most trading platforms have tried to beat this. They have tried to find a means by which citizens deposit indirectly and not directly from their banks. Some have tried to adopt the services of merchant who happens to be third parties.

 

[Dagov]

I truly can't question this news however one thing that I am extremely certain of is that individuals in my country Nigeria are exceptionally energetic about putting and exploring the Crypto market. I was a piece shocked in the past when I saw a gathering of minors discussing their interests in the crypto market and it's simply overpowering.
So it's nothing unexpected for me to find out about this very news.

 

[btaliat]

The country's population and high level of literacy really help the country in attaining the first position when it comes to crypto activities. One would have thought the cizitzens will retreat after the partial banning but yet, they still keep their interest waxing.

 

[Wisdom01]

Nigeria have always claim the top position when it comes to cryptocurrency adoption rate , the adoption rate of cryptocurrency have been really building high in the country and I love to see that happening , hope cryptocurrency continue to boost forward

 

[btaliat]

Not only Nigeria but a lot of African citizens are now leaning towards loving crypto. Nigeria is seen as center-piece because of its large size. Binance as well have been trying to make use of this opportunity by organizing seminars in Nigerian states and cities.

 

[GoldenLady]

The poor economy in Africa would be the main factor that draws it's citizens to cryptocurrency. There are limited jobs, high level of corruption and poor policies for the growth of businesses, all of which don't affect cryptocurrency.

 

[a_jerobon]

It is really great that African Nations are becoming so adoptive of crypto currencies. Nigeria has very aggressive citizens who are so good at online stuff. That is why they have been at the forefront in adopting crypto currencies. My country Kenya is not left out too when it comes to new online advancements.

 

[gammarays]

The issue is that Nigeria has a higher population of people exposed to the internet. They're also ready to do anything that gives them money. Crypto has given people financial freedom even countless free airdrops.

 

[a_jerobon]

The issue is that Nigeria has a higher population of people exposed to the internet. They're also ready to do anything that gives them money. Crypto has given people financial freedom even countless free airdrops.

That is right. In fact Nigeria has a very high population generally, with most of them being youths. That age bracket are the most interested in the Internet and all the opportunities that come with it. That is why you see so many Nigerians in forums and freelancing sites.

 

[gammarays]

That is right. In fact Nigeria has a very high population generally, with most of them being youths. That age bracket are the most interested in the Internet and all the opportunities that come with it. That is why you see so many Nigerians in forums and freelancing sites.

Yes most of nigerian population are youths and a high ratio of them are unemployed. That's the reason why they're mostly in any platform where they earn money. Online earning is easier and affordable.

 

[Riberet19]

Yes most of nigerian population are youths and a high ratio of them are unemployed. That's the reason why they're mostly in any platform where they earn money. Online earning is easier and affordable.

interesting fact, that's why I see so many Nigerian people in forums and internet sites, I've been wondering for a long time, I guess Nigeria is going through a very bad economic time, it's sure to get ahead, really everywhere there are economic problems today, they are moments where you have to use your ingenuity.