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Nigeria Adoption of Crypto Rises


The Adoption of Cryptocurrency despite the recent crackdown from the Nigerians Government, according to records from google Nigeria ranked first in searching the keyword Bitcoin, this week the p2p trading of Bitcoin Increases over the week and with Nigeria ranked behind United states of America, taking the second place for peer-peer Btc trading.

With the growing interest of Bitcoin in the country, has helped the Sub-saharan Africa to be ranked as the lead for the p2p trading volume In regional ranking, the sub-saharan banking over $18.8 million weekly which recently beat the North America region $18 million the past week.

With the tension growing in Nigeria, last October Nigerians took to the street to protest over police brutality in the nation and seek solutions for human rights tagged “ENDSARS”, but as expected the Police officers took to the street too and spray teargas, water cannons and even shot at the protesters leaving over 50 civilians injured and few lost their lives during the process.

This crackdown caught global attention and the protesters got aids from different social organizations and loving individuals which led to the federal government freezing accounts of those involved in the protest and those that supported financially, this meltdown as caused economy repression in the country, many feels this protest will be a catalyst to many decisions making in the country.

An anonymous announced that his bank accounts has been targeted too, which he decided to pay his members salaries in Crypto to avoid the turmoil many were facing. And also stated that the keep some security funds in Crypto not much but more like an insurance policy he said.
With the tension still growing, back in February the Nigerian government banned license bank operators in the country from processing Crytocurrency transactions both deposit and withdrawal, and this led to the desire of many to venture into the peer to peer trading , despite the ban the interest and adoption of Cryptocurrency in Nigeria as experience massive growth with lots of Nigerians youths into cryptocurrency releasing some Cryptocurrency Projects like Hagglex, Boundless Pay and many more.

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