Increased Bitcoin usage in Naija; a silent protest to financial instability.

[CTO114]

Over the years Nigerians have become accustomed to a failed financial system without to nuance to protect their savings.
Every now and then new policies are being formulated, with non being consistent enough to effect a positive change.
Silently, Nigerians have been increasingly turning to Bitcoin as their own bank of the bankers, as it immediately solves  the problems posed by the financial system, though without its own rusos.
Reason why this writer has likened it to a silent protest of a failed financial system

[Curious T]

It is not a silent protest or anything deep. The country is just so bad that people will take anything that offers them something better as long as it's affordable to them. A good number of the people using bitcoin in the country are not doing it because it makes them become their own bank or because it offers anonymity; they own it because it is profitable.
It is the same thing with how almost the whole country has started using online banks for payment. It was faster, more convenient and more reliable for them. It's very normal that resourceful people like Nigerians will embrace bitcoin.

[PremiumcryptoHub]

You are certainly right over the years, Nigerians have become accustomed to a failing financial system, but now the people of this country are gradually becoming more and more attracted to cryptocurrencies, As a result, the amount of Bitcoin adoption is also increasing day by day, so it must be said that the finesse of protecting savings is being created among them.

I last read that according to the data from May of this year, our country, Nigeria, is ranked second among the top 10 countries using Bitcoin. It is also noteworthy that this country was still in second place among Bitcoin users in the fourth quarter of 2024.

So it is clear that the people of Nigeria have increased their use of Bitcoin as a silent protest against financial instability. Bitcoin may be the best solution for us to solve the problems created by the financial system.




Top 10 Countries That Use Bitcoin – May 2025 Data  https://coinledger.io/research/top-10-countries-that-use-bitcoin

[Zigabel]

Over the years Nigerians have become accustomed to a failed financial system without to nuance to protect their savings.
Every now and then new policies are being formulated, with non being consistent enough to effect a positive change.
Silently, Nigerians have been increasingly turning to Bitcoin as their own bank of the bankers, as it immediately solves  the problems posed by the financial system, though without its own rusos.
Reason why this writer has likened it to a silent protest of a failed financial system

In as much as it sounds like some silent protest, it is also a run to safety, for financial refuge because their funds cannot continually remain threatened for the longest mean while there are other way to keep their money safe while still maintaining its value as it should be at the time they need it. we can only keep hoping for some salvation with our financial systems and the backing policies that are implemented to back them even at the detriment of citizens and benefit of a selected few.

Some times if at all we would want to see it as a protest it will best to go beyond looking for an alternative saving system but to make it known because if we continually keep looking for an alternative it will continue because it will look like we are just okay with whatever it is that has been implemented as a new financial regulatory measure meanwhile it may not be favoring us enough.

[Donk1]

I believe that the very reason why many of our Nigeria brothers and sisters are choosing bitcoin is not just about growing their money over time  but also protecting it from our Naira's high inflation because Bitcoin as we know it , has many potentials  that are yet to be explored and for that it has become the most valid digital asset. I think our government is now seeing the cost of our Naira devaaluation because gradually they are losing control and because of that  they are trying to make  new rules, like that recent regulation but still it's all a waste of time because they cannot still control bitcoin no matter how they put it.
https://www.mariblock.com/nigerias-president-signs-bill-recognizing-digital-assets-into-law/
Further more I believe that everyone is finding an alternative to solve the Naira problem and cryptocurrency, most especially bitcoin is doing the job very well done, so that's just it.Check out this link: https://business.cornell.edu/article/2025/08/grassroots-cryptocurrency-adoption/

[ODG001]

I agree with your point and I feel that is a reason the government (NGN Government) is always fighting the rise of crypto and it's initiative in the country

Nigerians are gradually understanding the benefits of saving in/trading Bitcoin to escape financial instability in the country
 
In the next 5-6 years the number of Bitcoin investors will skyrocket due to increased enlightenment, rate of Bitcoin global influence and sadly, high level of financial instability in the country too.

[Ndabagi01]

Over the years Nigerians have become accustomed to a failed financial system without to nuance to protect their savings.
Every now and then new policies are being formulated, with non being consistent enough to effect a positive change.

They don’t want those policies to work and that’s why we are not seeing them working or any effect of them to feel the impact that the government is really trying to implement this policy and work. Nigerians are accustomed  to a very porous financial system which they’re trying to make it better day by day.

Silently, Nigerians have been increasingly turning to Bitcoin as their own bank of the bankers, as it immediately solves the problems posed by the financial system, though without its own rusos.
Reason why this writer has likened it to a silent protest of a failed financial system

The fiat system is not entirely a failed system because we still make use of it in our daily transactions. It is just another means of financial system that is not sustainable to the current generation and seek to explore other means like this implementation of Bitcoin technology they’ve embraced. Every system is porous and all are not perfect, but as for Bitcoin, it is a better alternative to the fiat system.

[Moreno233]

Over the years Nigerians have become accustomed to a failed financial system without to nuance to protect their savings.
Every now and then new policies are being formulated, with non being consistent enough to effect a positive change.
Silently, Nigerians have been increasingly turning to Bitcoin as their own bank of the bankers, as it immediately solves  the problems posed by the financial system, though without its own rusos.
Reason why this writer has likened it to a silent protest of a failed financial system

I will not agree with your choice of the word protest because what Nigerians are doing was not motivated by anything other than planning for their future since the government and the system have made everything survival of the fittest. In other words, holding my money in Bitcoin rather than putting it in the bank is not a decision done as a protest but a wise decision that is economical and futuristic. This is the reason treasury bills, fixed deposits, shares and many other areas people save money are no longer fashionable. Bitcoin have come to stay and it holds better opportunity, the reason Nigerians are taking it seriously.

[Ronsbit]

Over the years Nigerians have become accustomed to a failed financial system without to nuance to protect their savings.
Every now and then new policies are being formulated, with non being consistent enough to effect a positive change.
Silently, Nigerians have been increasingly turning to Bitcoin as their own bank of the bankers, as it immediately solves  the problems posed by the financial system, though without its own rusos.
Reason why this writer has likened it to a silent protest of a failed financial system

OP, your topic looks incomplete from the way it was presented. Anyways, as for the policies, one thing we should know is that any new government that comes to power would always want their policies to work and the others are trashed out.  Nigerians long forget about the banks and they began to make themselves for the service of Crypto and block chain q7and they could realise their potentials.