According to a new report by Finder.com, 27% of Nigerian internet users own crypto despite the Central Bank of Nigeria’s restrictions. In fact, the CBN commanded banks to ban crypto asset-related transactions in February 2021.
However, cryptocurrency can’t be stopped and it’s still growing in popularity amongst the Nigerian population. Bitmama, a Nigerian blockchain payment startup, has recently received $2M in funding. It’s safe to say that this is just the beginning for Bitcoin and other cryptos…
Finder.com has a chart of countries leading the world in terms of Cryptocurrency adoption, and Nigeria is #2. India is leading the world when it comes to Bitcoin adoption, but Nigeria is only 2 percentage points behind them.
In contrast, the United States is ranked #15 and Canada is #18.
When the market crashed this year, many people panicked and sold their crypto at a loss instead of HODLing. Google Trends reports show that search interest for “buy Bitcoin” was higher than normal in Nigeria as the price dipped.