Future of bitcoin in Nigeria

[lissandra3612]

They have more hands to deal with now. The government needs to take immediate steps to overcome the state of their country. This is really a bad thing for the people in Nigeria who work for Bitcoin, the government and the banks will be very scared Bitcoin it brought a great impact for them.

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[btc78]

Too bad

From statistics, just 11% of the nation knows about bitcoin or cryptocurrency at large

Theres no need to rush and never compare nigeria ro africa because thats bigger country and more advanced than nigeria..you must be thankful because you come to learn crypto than your countrymen so what you must do is continue supporting crypto and specially bitcoin.never lose hope and keep spreading the word of crypto community to attract more and more Nigerian investors

[Mpamaegbu]

From the little I have known Nigeria, some folks I know take part in cryptocurrency related activities as many of them knows the benefits of the blockchain technology but the government are fighting the use of bitcoin in the country and this isn't encouraging for the citizens as the government isn't stable and employments are not been provided for the citizens. The future of bitcoin is certain as many organizations are embracing it, they use it for payment of goods and services, etc.

It's not really true that the government of Nigeria is fighting the use of bitcoin. This is fallacious and an obvious public misleading. Yes, there was a warning issued by the Central Bank of Nigeria in 2016. At the same time it also warned its citizens against investing in MMM. Beyond all that there hasn't been any legislation banning the use of bitcoin in Nigeria.

So, bitcoins future is certain to grow in nigeria.

You are absolutely right on this one.

[onyebuchi81]

The use of bitcoin Nigeria exploded in 2016 because of 2  factors; the financial crisis (recession) which led to the scarcity of the dollar for foreign exchange and the the price of ponzi schemes(started with MMM). Considering the the events which led to the mass adoption of btc in Nigeria are 2 periods in the history of the country that Nigerians will like the forgot its not hard to see why a lot of Nigerians still have their doubts about btc. This not withstanding I think the number of Nigerians involve in cryptocurrency has skyrocketed the past years though the %  of people using btc is still very small. But I don't think Nigeria is lagging behind considering its the second biggest country in Africa  interm of adoption

[amaydel]

With the third world got involved already in bitcoin and accepting blockchain transaction in their country, i expect that this will proliferate even further as year goes by. There will be a shift of economic progress from being low to average up to high if they continue to adapt the said technology.

[Eros1on]

Nigeria, as a small country, will certainly contribute to the development of BTC if it can fully support the development of BTC.

[yousuf5]

i think the governments of Nigeria should start considerating the importance of giving their people knowledge about cryptocurrency in general and bitcoin in particular. Because, the number of Nigerian people that used bitcoin or even just knowing about crypto and bitcoin is very low.But as of this moment there citizen can benifit in bitcoin so it is a good thing if it started with individuals and soon the country itself will benifit with bitcoin.

[tamquocchi33]

According to the cryptocompare, the "naira-bitcoin" trading pair became the 23rd in the world for trading volumes among national currencies. The "naira-bitcoin" trading band is about 0.03% of world trade in the first electronic currency. For the poor of the Third World, this is a good opportunity to escape poverty. If Nigerians do a great job with bitcoin, the future of bitcoin in Nigeria will be bright as they can use bitcoin as a replacement for payment in their stores or stores in their country. Bitcoin is a great help in a country if they just handle it and use it seriously.

[takesomethingaway]

Bitcoin and crypto in Nigeria If Nigerians do a great job with bitcoin, the future of bitcoin in Nigeria will be bright as they can use bitcoin as a replacement for payment in the store or store. in their country. Bitcoin is a great help in a country if they just handle it and use it seriously.

[wonderfulvn]

When I were young, I already know Nigeria, some folks I know engage in electronic money related activities because many of them know the benefits of blockchain technology but the government is fighting using bitcoin in the country and This is not recommended for people because the government is unstable and jobs are not provided to citizens. So, the future bitcoin will definitely grow in Nigeria

[Jhet09]

If that happends in nigeria thats good news why?  It will help tha population economy in nigeria some people think that nigeria
Is a over populated and poor country but if bitcoin will be legal in nigeria it will help there country a lot.

[timmydakolo2]

Barely, few people in Nigeria know what bitcoin is, i once ask my friend to invest in bitcoin what he told me shocked me, that i want to lure him into yahoo yahoo

[bombie1]

Well I think Nigeria has a future in cryptocurrency because recently a team from Nigeria successfully raised good amount of money from an ICO through bountyhive to launch an exchange called kurex.The exchange will bring more people from that country to start thinking cryto.But the rate of cyber crime in Nigeria is a major threat to cryptocurrency growth in that country.

[allaking]

Future of bitcoin is very bright. The beginning of everything is always despise by many people. Is not only in Nigeria that is facing problems with bitcoin utilization. Most people have not understood and realized the importance of it.

[Grayy]

I don't think Nigeria is too far behind in bitcoin and blockchain technology at large. I've watched a couple of videos about some ICOs and I've seen few Nigerians demonstrating some good knowledge about bitcoin and cryptocurrencies. I found out that there are third party companies that allow you to change your local currency into bitcoin and get to trade with your bitcoin.

[dragoz11]

in countries such as Nigeria when recession is high the btc may be very valuable to be used as it can open much more opportunities and expand the economy.

[taquine]

Nigeria has a lot of oil but a lot of the funds go to the wrong sort of people. With bitcoins it would be more transparent so there will be less scams with dodgy oil deals

Yes, true. too many of their oil funds go in the hands of the wrong people. maybe in the presence of cryptocurrency will help the african economy. positive value for cryptocurrency.

[demoltion]

African countries are currently hit by bitcoin, including in Nigeria, I think at this time we have to support any decision on the community itself, even though only a few understand about bitcoin, hopefully in the future we will all that year

[Ava Duvall]

Bitcoin will still grow in Nigeria,  just that people are not educated about the Bitcoin

How can we get them educated?

Education is really important! education is key, for kids who go to school maybe integrate it  somehow into there studies, have night time studies for adults, just find a way to get people involved and maybe more people will be interested in crypto and blockchain.

[Blackhammer321]

Bitcoin has a more rapid development potential in Africa, and people here are in great need of block chain technology, both in banks, medical care, and employment.

Those people need to prioritize bitcoin in able to lessen the poverty because we all know, Nigeria is part of Africa and Africa is one of the poor place in the world. With bitcoin they can help unemployed citizen, the government just need to provide those people a tool for it. Or maybe the government itself can involved itself in bitcoin so that they can help in boosting there economy.