Bitcoin trading broadly in China,than Nigeria.

[Wendy Simth]

I don't know how this comparison is even possible but with a fact that we all know about China having a much larger population than Nigeria, the odds of china having more traders than Nigeria will also certainly stand in favor of China becauseof the huge population difference.
Regulation might seem to be a factor for both countries but still the technology and infrastructure will favor China in this comparison.

China has more population than Nigeria, so it makes sense that China has more traders. After all, China is one of the leading countries in
terms of technology, as evidenced by many coins and exchanges whose creators are Chinese. So I'm not surprised that trading crypto is
quite popular in China compared to Nigeria, unfortunately the Chinese and Nigerian governments don't support cryptocurrencies.
Even though a country as big as China if the government can support crypto, I believe the development of crypto will be more rapid.
Because it can convince other Asian countries to legalize crypto as well.

I don't think the Chinese government will easily express its support for cryptocurrency. At the same time, it does not explicitly prohibit bitcoin. In fact, it is a kind of support. At least the Chinese people can trade.

[1715199556]

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[Nutrient]

This comparison tho. Nigeria might not be on the top 10 list but the volumes of trades carried out in the country despite the ban is impressive.

[Davidvictorson]

Bitcoin trading mainstream in China, however Nigeria is not among the top 10 countries trading Bitcoin , could it be that Nigeria government have not legalize Bitcoin?why is China among the top 10, but Nigeria isn't?

Commonsensically the metrics involved in both countries should tell you that China can’t and shouldn’t be compared to Nigeria when it comes to cryptocurrency trading and mostly anything else. They are in different regions and the dynamics are just too unique to for any comparison.

[AmoreJaz]

I don't know how this comparison is even possible but with a fact that we all know about China having a much larger population than Nigeria, the odds of china having more traders than Nigeria will also certainly stand in favor of China becauseof the huge population difference.
Regulation might seem to be a factor for both countries but still the technology and infrastructure will favor China in this comparison.

China has more population than Nigeria, so it makes sense that China has more traders. After all, China is one of the leading countries in
terms of technology, as evidenced by many coins and exchanges whose creators are Chinese. So I'm not surprised that trading crypto is
quite popular in China compared to Nigeria, unfortunately the Chinese and Nigerian governments don't support cryptocurrencies.
Even though a country as big as China if the government can support crypto, I believe the development of crypto will be more rapid.
Because it can convince other Asian countries to legalize crypto as well.

I don't think the Chinese government will easily express its support for cryptocurrency. At the same time, it does not explicitly prohibit bitcoin. In fact, it is a kind of support. At least the Chinese people can trade.

this year, let's say we compare the recorded population - china vs nigera : 1.408B vs. 212M . so the population of nigeria is only about 15% of china. despite of banning btc miners in china, still crypto tradings are allowed in this country. so no wonder, their volume is still much higher than most countries including nigeria.  you may have read the news regarding the situation of crypto in china but still their trading is still alive.

[Wawa2013]

~

China has more population than Nigeria, so it makes sense that China has more traders. After all, China is one of the leading countries in
terms of technology, as evidenced by many coins and exchanges whose creators are Chinese. So I'm not surprised that trading crypto is
quite popular in China compared to Nigeria, unfortunately the Chinese and Nigerian governments don't support cryptocurrencies.
Even though a country as big as China if the government can support crypto, I believe the development of crypto will be more rapid.
Because it can convince other Asian countries to legalize crypto as well.

I don't think the Chinese government will easily express its support for cryptocurrency. At the same time, it does not explicitly prohibit bitcoin. In fact, it is a kind of support. At least the Chinese people can trade.

this year, let's say we compare the recorded population - china vs nigera : 1.408B vs. 212M . so the population of nigeria is only about 15% of china. despite of banning btc miners in china, still crypto tradings are allowed in this country. so no wonder, their volume is still much higher than most countries including nigeria.  you may have read the news regarding the situation of crypto in china but still their trading is still alive.

What is prohibited by the Chinese government is only Bitcoin mining, but trading is still allowed. Because the Chinese government may also realize
that it is useless to ban Bitcoin trading,  because Chinese residents can still trade Bitcoin even if it is prohibited. There are some countries
whose countries completely ban Bitcoin, but still residents can use Bitcoin. The most important thing is that now residents of China and Nigeria
can trade Bitcoin, so it doesn't really matter which country trades Bitcoin more.

[firesurfer]

Take a look at the population, economic size, number of cities and occupational diversity between the two countries. We can see that China is far ahead of Nigeria in every way. The Chinese people got into crypto very early and they are still quietly involved in crypto activities. We can't tell how far apart the numbers and reality are.

[Kong Hey Pakboy]

Take a look at the population, economic size, number of cities and occupational diversity between the two countries. We can see that China is far ahead of Nigeria in every way. The Chinese people got into crypto very early and they are still quietly involved in crypto activities. We can't tell how far apart the numbers and reality are.

I think that OP should have considered that but I am still surprised at how they're still the biggest even though the government antagonizes the crypto market there and at the same time they're spreading propaganda and their people are just following what they say in almost about anything.

[DapanasFruit]

The government of Nigeria should be talking to the president of El Salvador so they can learn the reasons why that small country already legalized Bitcoin and made its official tender. But I guess, the political scene in Nigeria is not yet ripe for the full coming in of cryptocurrency as they might be looking at it as  a tool that can undermine their grip on power...which is actually true in many other countries as well. Bitcoin and crypto as a whole is looked upon as a threat and not as an ally for economic progress of the people. This can be the same mindset in China which recently acted to totally eradicate the presence of cryptocurrency in their big land. Hope that eventually Nigeria will not be doing the China thing and it will instead regulate Bitcoin which they can even gain tax revenues if they wanted to - similar to what the USA had done lately with that debated bill in Congress.

[indo1]

China is bitcoin's largest mining center so natural that the Chinese market is wider than any other country in terms of cryptocurrrency. Because lately the largest cryptocurrency mining company was revealed to be in the company after it will be moved because China prohibits the existence of bitcoin.

[Dilladupak]

There is a big difference between China and Nigeria, as far as I know people in Nigeria are not as enthusiastic about Bitcoin and Cryptocurrency trading when compared to other countries.
In China, although we often hear that the government forbids it, we know that in China there are very large Bitcoin mining companies and the people there have also been deeply involved in cryptocurrency trading.
Therefore, I think it is very reasonable and reasonable that China is superior to Nigeria.

[DarkDays]

AFAIK Nigeria doesn't ban Bitcoin but the central Bank on Nigeria could freeze your account if they detect the funds came from Bitcoin, high inflation rate, still a third world countries means not prosperous yet. That's why the trading volume of Nigeria can't be compared to first or second world countries, however there's an article said Nigeria become the top 2nd Bitcoin trading volume but keep in mind it's only on Paxful [1] not an entire exchanges.

[1] https://www.theguardian.com/technology/2021/jul/31/out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic

Yes, with the country's governmental instability people who are fortunate enough to be able to use BTC and similar blockchains will definitely use it over the fiat alternative.

China on the other hand has more regulation than Nigeria, and not only that but the numbers reported can also be biased, though we do know that BTC can be common in African countries

[oktana]

AFAIK Nigeria doesn't ban Bitcoin but the central Bank on Nigeria could freeze your account if they detect the funds came from Bitcoin, high inflation rate, still a third world countries means not prosperous yet.

When is the difference between banning and freezing your account if you deal with bitcoin? The government of Nigeria did ban Bitcoin. They are just too controlling and that is the freedom Bitcoin brings. They also banned twitter, citizens of that country cannot currently access twitter (unless using a VPN as I heard). But eventually, Nigeria will remove the ban. I have seen how much Nigerians are doing crypto and that number can only grow.

[wajik-tempe]

We cannot deny that china has a very large population and china also has a big percentage of cryptocurrency of bitcoin possesion currently.
There many big exchanges are from china or at least has chinese owner.
Also when we heard news from china, fud or good news. There must be a big sudden market movement. So that's how impactful china in cryptocurrency.
I don't think china's goverment are legalize bitcoin also, there so many banning crypto news in china but it i think the people are just using cryptocurrency for investment not for daily use

[B-Bit]

China has already banned mining and will gradually ban cryptocurrencies. However, it is not ruled out that cryptocurrencies will be re-accepted. I believe that in the future, cryptocurrency will be accepted globally, and now the government is suppressing it because cryptocurrency is out of control. Many scammers defraud Bitcoin and cannot get it back.
When China accepts cryptocurrency, the transaction volume may reach the top three. There are also many cryptocurrency enthusiasts in China.

[slaman29]

Bitcoin trading mainstream in China, however Nigeria is not among the top 10 countries trading Bitcoin , could it be that Nigeria government have not legalize Bitcoin?why is China among the top 10, but Nigeria isn't? That source is definitely wrong.

Where did you read that Nigeria is not part of the first 10 in P2P trading?

The only P2P tracking I know is Localbitcoins and everything else is going to be hard to track especially because none of it happens on chain.

But I suppose Defi/DEX trading is all onchain and that is easier to look for analysis, but Bitcoin represents less than 10% of DEX trading, as far as I can look?

[worle1bm]

Bitcoin trading isn't mainstream in China. The CCP has pretty much banned bitcoin mining and isn't very thrilled about their people having anything to do with BTC. They want them to use their centrally issued CBDC so that they can keep track of every single payment and embark on to a perfect, utopian society where everyone only takes and spends what they need. For the benefit of the society, you know.

The country that doesn't allow you to be socially interacting with eachother and have put bans on social media platforms and media is also central owned which always applause the government and people fear to speak against them how come they can make usage of decentralised crypto bitcoin freely trade in the country? The CCP is full authority over china and kind of dictator democracy is prevailing there like you can speak but no one listens or cares.

But what impact does china have over bitcoin? Nill according to me as miners movement across the shores and hashrate recovery is the sign for it.Every country has it's own perspective of regulating bitcoin and they are trying to compete with some CDBC which have no utility like other shitcoins so bitcoin is going to be above all this.