Top 5 Reasons Why Nigerian Pioneer Bitcoin Remittances
A survey by Statista found that around 32 percent of people in Nigeria use cryptocurrencies and this is the highest proportion of a population in the world. In terms of trade volume, the country stands in 3rd position after the United States of American and Russia with a transaction value of more than 400 million dollars. This virtual currency is booming in Nigeria although there is a banking ban on it, traders discovered ways against government ban like the other parts of the world. As per the blockchain research firm Chainalysis, the amount of crypto received by the Nigerian crypto community has been constantly growing. The use of crypto in international trade also surged in Nigeria, people tried to use the currency to proxy the US dollar. Since the beginning of 2021, Nigerians traded 50...
