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[Ben Kempton]

I am quite sure that there are so many people out there who are interested in cryptocurrencies. However, not all the people are equally interested in cryptocurrencies as far as we know. Some nations are much more interested in cryptocurrencies as compared to others. It seems like Nigerians are those folks who like cryptocurrencies the most and they are quite interested in cryptocurrencies as compared to other people, according to some studies. The study was conducted after extracting data from Coingecko and it looks like cryptocurrency is a kind of topic which is searched in a quite often manner in the country.

 

[btaliat]

Despite the fact that the government since 2021banned cryptocurrency, the stakeholders in cryptocurrency, like the trading platform do not want to leave Nigeria. Luno and Binance have been sensitizing the people on how to use crypto.

 

[Riberet19]

I would really like to know when Nigeria started using cryptocurrencies so much, I see a lot of people in forums who are Nigerians and they are all cryptocurrency enthusiasts or know about them, I would like to know what caused this in the country and how it all started.

 

[Ahamefula]

No doubt, Nigerians are very much into cryptocurrency, most especially the youth, and it is gaining popularity lately in Nigeria, people are making enquiries on how to get started so as not to be left behind, when it comes to cryptocurrency, especially in Africa you just have to give it up for Nigerians.

I am quite sure that there are so many people out there who are interested in cryptocurrencies. However, not all the people are equally interested in cryptocurrencies as far as we know. Some nations are much more interested in cryptocurrencies as compared to others. It seems like Nigerians are those folks who like cryptocurrencies the most and they are quite interested in cryptocurrencies as compared to other people, according to some studies. The study was conducted after extracting data from Coingecko and it looks like cryptocurrency is a kind of topic which is searched in a quite often manner in the country.

 

[Ahamefula]

Despite the fact that the government since 2021banned cryptocurrency, the stakeholders in cryptocurrency, like the trading platform do not want to leave Nigeria. Luno and Binance have been sensitizing the people on how to use crypto.

Very correct, despite the ban on cryptocurrency in Nigeria, yet a way was still devised to make sure trading goes smoothly, and people are getting to become more comfortable with the method of buying and selling of cryptocurrency which is the peer to peer method and so far it has proven to be more reliable, effective with little or no scam rate.

 

[Ahamefula]

Indeed Nigerians are extremely inspired by bitcoin. However, the issue with them is that they fail to really see what bitcoin is. The greater part of them really do imagine that bitcoin is a business that assuming you put your cash in it today, by tomorrow it would have yield revenue. In any case, it isn't that way. They need to comprehend that it is a money very much like there typical currency.

Very true, and I agree with you, bitcoin actually inspired Nigerians to troop into the cryptocurrency space, but most times people don't want to pay the price and sacrifice of learning what they are venturing into, some people perceive it to be some money doubling venture or gambling, of course it "ll become gambling only when you have insufficient knowledge concerning it.

 

[btaliat]

Most trading platforms have pitched their tents with Nigerian youth because they are see as being restless when it comes to cryptocurrency. They don't mind what the government says about crypto. Probably, some of them might have tired of the traditional ways of handling fiat currency, Naira.

 

[Kennysplash]

First of all the country has a very high population. So this can be the main reason why it holds that position. Secondly the people here are hustlers, they seek ways in which they can make extra income to support themselves.

 

[Lens_]

The government of Nigeria has kicked against the cryptocurrency related activities in the country but the citizens still use cryptocurrency because they love it and it's a way to make decent income.

 

[gammarays]

One thing that made many Nigerians embrace crypto is the lack of employment in the country. With no good paying jobs available, citizens looked to crypto where there are many opportunities. Only airdrops have made people fortunes not to talk of employment and degen trading.

 

[Ben Kempton]

Despite the fact that the government since 2021banned cryptocurrency, the stakeholders in cryptocurrency, like the trading platform do not want to leave Nigeria. Luno and Binance have been sensitizing the people on how to use crypto.

Is cryptocurrency still banned in Nigeria? I am not aware of the current status of legality of cryptocurrencies in Nigeria. However, the fact of the matter remains that there are certain people who are actually quite uncertain about the future of cryptocurrencies in Nigeria right now.

 

[gammarays]

Is cryptocurrency still banned in Nigeria? I am not aware of the current status of legality of cryptocurrencies in Nigeria. However, the fact of the matter remains that there are certain people who are actually quite uncertain about the future of cryptocurrencies in Nigeria right now.

Crypto is still banned in Nigeria just that the country isn't organized when it comes to policies. Even the people who banned it are making use of it so citizens will always trade crypto. They said they banned it but can't refuse funds from Binance and co.

 

[Gen Evie]

With a total search score of 371, Nigeria topped the list for its population having the highest search levels for the phrases 'cryptocurrency', 'invest in crypto' and 'buy crypto' worldwide. Many people use crypto assets for commercial payments, but their volatility makes them unsuitable as a store of value.

 

[btaliat]

The government of Nigeria has kicked against the cryptocurrency related activities in the country but the citizens still use cryptocurrency because they love it and it's a way to make decent income.

There is no total ban of crypto in Nigeria. What we have is called partial banning. This means, citizens can still trade in cryptocurrency but government has distanced itself from it. So traders must not use any legal means to do the transaction.

 

[Margery]

Indeed, the lack of work is one of the reasons why many Nigerians have turned their eyes towards cryptocurrencies. Cryptocurrency can provide new earning opportunities, including through trading, mining, participation in ICOs, etc. In addition, thanks to blockchain technology, cryptocurrencies can provide transparency, stability, and fast transactions, which can be important for people who cannot access banking services. However, like any other investment, cryptocurrency is not without risks and potential investors should do their own research and assess their risks before investing.

 

[Gamer01]

Yes they are definitely in it big time the exchanges binance and paxful have promoted them big time and they know that the people who are interested in crypto well be depositing soon after given some sort of starting amount to play with

 

[btaliat]

In Africa, Nigeria is the one that's keeping the flame of cryptocurrency burning other than other countries. This is because there is no more opportunities for most of the youth in Nigeria. So they embrace crypto to survive.

 

[Gamer01]

Yes that's right and no doubt the exchanges bianance and paxful have played a great role in the development of the community by providing a lot of offers and opportunities which no other exchange had provided actually indeed .

 

[Margery]

Yes you are right. Binance and Paxful are two major exchanges that have played an important role in the development of the cryptocurrency community by providing many features and services.
Both exchanges have a large community of users who are actively involved in trading and investing in cryptocurrencies and provide many opportunities to earn money in this market.

 

[Riberet19]

I have also noticed that most Nigerians use Binance, I think I have not found any that claim to use another exchange, Binance has really driven the adoption of cryptocurrencies in Nigeria, because they know very well that it is a target audience.

 

[Gamer01]

Yes both of them have done great work they should be appreciated in the first thing so the progress of bitcoin in africa and it will growing in the next years we live and have success only when you work hard indeed .