Given how the restricting measures didn't impact the trading volume seriously, I think it's safe to assume that the crypto community there is very strong, and they aren't afraid of the government. It's great news because Nigeria is under authoritarian regime (according to
Democracy index), but people are clearly fighting it nevertheless. Also, given that the attitude towards cryptos is inconsistent and depending on various authorities there are different intentions, I hope the market will get favorably regulated there after all.
According to bitcoin trading platform Paxful, Nigeria is now second only to the US for bitcoin trading.
Wow--that's a surprising fact. I wouldn't have expected Nigeria to be #2 in terms of trading, even though I know it's very popular there. Anyone else surprised by that?
I knew Nigeria's a country where people are no strangers to cryptos, but I also had no idea it was #2 after the US by trading volume. I checked a couple of sources, and it seems more or less correct. Nigeria is #3,
according to Statista, with Russia being #2 (didn't know that either), but they're pretty close, so it's reasonable to assume that it can vary depending on the estimates and on timing.