First of all, I know Nigeria is popularly known for the wrong reason, which is scamming but that is not all that there is to Nigeria and the Nigerian youths are some of the most hard-working set of human beings you will ever meet, just that we have very bad leadership and very greedy politicians that are only concerned about filling their pockets and don't care if the nation starves to death, as long as their pockets keep overflowing they are good, and they keep throwing the massive crumbs and peanuts to keep them in line, so they can control them with that, I hope of a better Nigeria someday and hope this next election would give us good leaders that would actually give a sh!t about its citizens.
Nigerian Government Vs Crypto
Now that being said, the government lost its power over the youths as soon as the youths discovered Bitcoin and Crypto, which is why the Nigerian government hates crypto so much because it represents hope for a better tomorrow and a chance to attain financial freedom because with the horrible leadership Nigeria has had in the past 8 years it looks like the system was built or rigged against it citizens progress because the government has always tried to block the progress of it, citizens, first it was crypto threatens the economy then they ban crypto, then the place a $20 foreign exchange monthly limit on ATM cards, to limit people from so many online business opportunities and keep them grounded, which was an attempt to stop both forex and crypto trading but that did not stop Nigerian from owning crypto as much as they do. just recently the Central Bank has ban citizens from buying Dollars with Naira, so anyone caught buying Dollars with Naira will get arrested.
Is Nigeria the next crypto owners hub?
According to statics provided by triple A Nigeria is the #1 country worldwide in terms of the number of people searching for “Bitcoin” and “Crypto” keywords on Google, and also It is estimated that over 62 thousand people, 3.3% of the total Latvian population, currently own at least one form of cryptocurrency.
Nigeria leads Africa peer to peer lending in 2020, posting weekly P2P volumes of between $8 million, followed by South Africa and Kenya posting about $2 million weekly. A 2020 online survey by data platform Statista found that 32% of those Nigerians who took part used cryptocurrencies – the highest proportion of any country in the world.
Also, Nigeria ranked number four (4) when it comes to Bitcoin and Crypto Adoption, with a total of 22 million people.
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Government will always be against Crypto, more people needs to adopt crypto. And government needs to accept the change, with government some people are also criticising crypto and most people have no knowledge about it. People don't like change, it happened with internet and now it's happening with crypto. History will repeat, we would see web 3 as new technology.
I agree with you on this.
Nigerian are now in this and most of them as already adopted this, even without waiting for the government, I must say most youth here right now live and survive on Cryptocurrency
Yeah, like 80% of the youths are into crypto
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