Do you think Bitcoin can really become common for payments in Nigeria?

[Jammy01]

Most people here use Bitcoin mainly for saving or trading. Very few businesses actually accept it for daily transactions.

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

[Bryan jessy]

In Nigeria I doubt the common usage of Bitcoin, though it is more common among young people, and this people are not really in any authority in the country that could make enforcement on common usage of Bitcoin unless the people in authority fully authorize the usage as it has been adopted since.
The truth is, Bitcoin usage remains but it will not be fully adopted or used by everyone, as some people still lack the knowledge of it usage and some persons dose not even know about it existence.

[Agbamoni]

The limitation is instant transaction and network fees, if not many are willing to accept payments for simple transactions in Nigeria. The Lightning network transactions are nearly instant, it was made for the purpose of instant confirmation. Even at that, fees will still be a problem.



Look at this chart. The lowest fee amount is $0.34 which is around N265.20 at current price, while the cost of making a simple transaction in a Nigerian Micro finance bank should be not more than N80. Choose wisely.

Aside that, there are still people who use Bitcoin to accept large amount. Those in import/export, car sellers, and many others. Once who is aware of Bitcoin can choose to accept Bitcoin as payment.

[SmartGold01]

I think Bitcoin needs more time to get that level because our country currently are not that friendly due to regulations issues and right away I am also hearing some news about setting tax for those who transact on bitcon and also those who operate on POS machines in our country. So, with time vast majority of people could start using Bitcoin on a daily basis or even used for paying tuition fee with Bitcoin and rest in our country.

[Yablee0]

There is a saying that says only time has the capacity of changing anything, for now bitcoin acceptance as  legal tender is quite impossible because our government currently in power are not actually friendly to bitcoin stuff but like I said earlier time can change anything maybe someday In the nearest future, but I just know everything will just be fine soon. But mind you, their are still some few people that run BTC transactions on the low and they are cool with it, it just depends on your arrangement with the person.

Furthermore, let just keep our fingers cross and watch how things goes but I am damn sure that one day nobody will remember that their was sometime back then that bitcoin wasn't accepted in naija.

[Asiska02]

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

The price tag attached to bitcoin is the reason why it is being used as an investment asset, so many people may continue to see it more as an asset of investment instead of using it for daily transactions. With mainstream adoption all over the world, we may get to that point it is been used for not mainly investment and trading but will go beyond using it for daily buying and selling of goods. It is possible but only time will tell.

Aside that, there are still people who use Bitcoin to accept large amount. Those in import/export, car sellers, and many others. Once who is aware of Bitcoin can choose to accept Bitcoin as payment.

Bitcoin is now a mode of payment used by some Nigerians these days in purchase of cars or other items that requires moving large amount of Naira. Restrictions and limitations on fiat accounts has made the use of the alternative payment method- Bitcoin to help make transactions faster and seamlessly possible. Even without much ado, this is already a progress in the sight of Bitcoin adoption and the use of it on a daily basis.

[LayerzWallet]

The limitation is instant transaction and network fees, if not many are willing to accept payments for simple transactions in Nigeria. The Lightning network transactions are nearly instant, it was made for the purpose of instant confirmation. Even at that, fees will still be a problem.

https://talkimg.com/images/2025/10/10/UGDfC2.png

Look at this chart. The lowest fee amount is $0.34 which is around N265.20 at current price, while the cost of making a simple transaction in a Nigerian Micro finance bank should be not more than N80. Choose wisely.

Aside that, there are still people who use Bitcoin to accept large amount. Those in import/export, car sellers, and many others. Once who is aware of Bitcoin can choose to accept Bitcoin as payment.

This can be a misconception. Bitcoin at the baselayer is for large high value transactions. Bitcoin Layer2w (like lightning) is for small payments like buying a coffee which is instant and virtually free, but still rooted in bitcoins security. There is also a big push with more and more implementations of USD stablecoins on bitcoin (via L2) that will increase usage - in south africa you can now pay in any shop, garage or restaurant with bitcoin

[Faazs]

Most people here use Bitcoin mainly for saving or trading. Very few businesses actually accept it for daily transactions.

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

One day it will happen as the trust in the current system has depreciated over the years in the country, one day we would wake up to all these , people have started to trust more in BTC, that is evident as the number of people trooping into BTC use has grown drastically we just need more people to continue to believe in these new system and with time, it would be possible. First we the need the government of the day to accept it and not see BTC as a competitor,  bring in policies that favour its adoption, if we can break though this hedge we would definitely go along way to help in these transition. But right now its only a dream we can make come true by our combined efforts, let's continue to put hands together to push BTC to the permanent site.

[Gentle_Soul]

The day Bitcoin can be officially used as a legal tender in Nigeria then I will see that day as a new revolution in the country I mean look at the bank unnecessary charges and  in-accountability.

Selfish interest on the part of that government for me will not allow them want to allow Bitcoin to be a legal tender  a whole lot is happening between the government and the banking sector but I wouldn't want to talk about that right now
If am able to sought my bills using my Bitcoin then I don't think the physical bank has anything on me

[Ojinga]

In Nigeria I doubt the common usage of Bitcoin, though it is more common among young people, and this people are not really in any authority in the country that could make enforcement on common usage of Bitcoin unless the people in authority fully authorize the usage as it has been adopted since.
The truth is, Bitcoin usage remains but it will not be fully adopted or used by everyone, as some people still lack the knowledge of it usage and some persons dose not even know about it existence.

If there’s anything I trust about Nigerians is adoption because we can adjust to every situation if the government truly wants us to but I’m certain they wouldn’t want such a thing because they would stand the risk of losing a lot of fortune and opportunities. Most of the looting a are done through fiat currency so it can’t be easily traced but I think these men are too naive and dump(sorry for those words) are not even open to new innovations because if they do, they should understand that their looting might be even easier through bitcoin with the help of mixers without any trace but they should to stick to the traditional way because they are scared of improving the lives of their people.

Just like the cashless policy era, bitcoin will gain that very visibility with time which I believe will be sooner than expected or thought of and we will definitely adopt, both big and small and we might even be able to use it for transactions without so much processes
That time will come, maybe not now but definitely.

[knowngunman]

Most people here use Bitcoin mainly for saving or trading. Very few businesses actually accept it for daily transactions.

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

Has Bitcoin been approved as a legal tender in Nigeria? How do you expect Bitcoin to become a common payment method when our government is skeptical in giving a green light?

Until it's legally approved, nothing much will happen to current situation. Business people accepting it as a form of payment are doing so at their own will and will bear the consequences incase anything happens during the course of transaction. Assuming problem arise during a transaction you do with Bitcoin, do you know you can not involve law in that case? Because the law does not recognise that payment system and literally, there's no case to solve.

Moreover, the number of people with no western education running these local business like food and transportation is more than educated people doing such businesses. These people have no single knowledge about wallet talk more of Bitcoin itself. In fact, some don't even accept normal bank transfer simply because they're not educated or afraid of being scam with fake transfer. Let be realistic, even if we decide to use Bitcoin as a payment method only few businesses will be willing to accept it.

[Nheer]

The limitation is instant transaction and network fees, if not many are willing to accept payments for simple transactions in Nigeria. The Lightning network transactions are nearly instant, it was made for the purpose of instant confirmation. Even at that, fees will still be a problem.



Look at this chart. The lowest fee amount is $0.34 which is around N265.20 at current price, while the cost of making a simple transaction in a Nigerian Micro finance bank should be not more than N80. Choose wisely.

Aside that, there are still people who use Bitcoin to accept large amount. Those in import/export, car sellers, and many others. Once who is aware of Bitcoin can choose to accept Bitcoin as payment.

You have a point charges are really a challenge to achieve this in the country but it's really achievable but it depends on the source of income of the person, for those that work and earn in Dollars or earn Bitcoin I don't think they will actually see this as a problem because taking out this $0.35 is as low as taking out N80 in our currency.

When the Federal Government and Central Bank of Nigeria ordered Financial institutions to deduct electronic money transfer levy from all customers when they make a transfer of N10,000 and above we all complain that it was too much and that the government is trying to extort money from us despite all the hardship people faced but we all adapted to the change and no one is really complaining anymore so the same thing will happen when everyone accept the charges they can adapt to it as well.

The only issue will be when there is congestion in the mempool and transaction fees get higher it will be difficult to cope. Looking at it from the other angle I don't think it everyone will be able to cope.

[Pablo-wood]

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

In the nearest future, I think it’s possible, but it will take quite some time before it becomes a reality. We can all attest to the fact that bitcoin adoption is growing fast in Nigeria, but using it for everyday transactions will depend on things like stable internet access, user education, merchant acceptance, and better regulation. I see the interest in many Nigerians, it’s just a matter of building the right environment for it to thrive.

[Hewlet]

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

The question then is, would you rather spend your bitcoin when you want to pay your school fees or use our naira? Naira is loosing value by the year and for bitcoin, we're seeing new ATH every now and then.

Before bitcoin can be spent just like the fiat is being spent, it has to be that it potential as an asset has dropped seriously and adoption must have grown to highly far above what we have now. Our degree of acceptance of new technology is still relatively low when you're considering those at the grassroots we are far away from bitcoin going completely mainstream to the extent that it can be used to make simple transactions.

[Dr.Bitcoin_Strange]

Becoming common is not possible now, though most of us are already accepting Bitcoin in our business because there are also customers who are willing to pay regardless of anything, they still want to pay with their Bitcoin but the payment system is not very rampant and for now, I don't think it will, it's going to take time.

[Sammye3]

Most people here use Bitcoin mainly for saving or trading. Very few businesses actually accept it for daily transactions.

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

I believe a time like that would come definitely. Bitcoin is being used in Nigeria for payment means already depending on the agreement between both parties involved, so in the nearest future they're almost a 100% possibility that it would be used on the national level . That would involve amending regulations that guides the use of cryptocurrency in general.

I can't wait for such moment for Bitcoin to fully exercise it's power and strength.

[Agbe]

Nigeria as a country is moving forwards that direction were Bitcoin will be used as a means of payment for our every day use.With the rise in Bitcoin technology and Nigeria been a Bitcoin friendly place I see more business integrating Bitcoin into their business were it will be a payment methods. One thing we need to know is that business men and women will be the greatest factor to determine if they will accept Bitcoin as a payment method this is were information will come to play a business owner who is not informed about Bitcoin will find it difficult to integrate Bitcoin into his business.

[Odogwu-Blockchain]

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

Do you think everyone can patiently wait for 10-15mins Bitcoin confirmation before goods been handed over to the spender, that would be a lot of time wasting. You know every transaction considers time, charge, safety before implementation.

So does Bitcoin passed all of these tests to be widely used in our everyday life?

The answer is NO. Lightning Network LN is the only solution for this and so many are still finding it difficult to fully understand it, or it's not widely used by many. But that's the solution to this.

[Stable090]

Most people here use Bitcoin mainly for saving or trading. Very few businesses actually accept it for daily transactions.

But imagine being able to pay for food, transport, or even school fees directly in Bitcoin without worrying about bank limits.

Do you think this can ever become a reality in Nigeria? Or will Bitcoin remain something we mostly use for investment and not for everyday spending?

For now make I no lie give you, bitcoin no go pass investment and trading, but make we no even expect bitcoin to be a everyday spending, maybe later in the future, we fit come Dey spend bitcoin anyhow, but for now I no Dey sure say e go work.

Firstly how many people sabi about bitcoin for dis our country, as we Dey see say plenty people sabi about bitcoin, if you enter some part if you mention bitcoin, the first question wey dem go ask you na Wetin be that, they haven’t even heard about bitcoin before not to talk of making use of bitcoin to make payment.

Just imagine farmers in the rural areas, most of them don’t even have a android phone not to talk of them knowing about bitcoin, how will people like that be able to accept bitcoin, or all dis market women, how dem go take Dey accept bitcoin. For dis our country I no expect say we go Dey use bitcoin make payment soon, and even if e go happen, na some specific businesses go Dey allow that.

[Mr_Brilliant$]

Yes It can be possible, but I nor go lie not anytime soon..
The awareness and adoption rate still Dey grow, especially among the younger generation, but there are still a lot of barriers sha, talking of government regulations, poor internet access in some areas, and lack of proper education about how Bitcoin really works..  Over time though, as people start seeing it real value and usefulness, it can definitely become more common for payments in Nigeria.. It will just take time and that gradual acceptance…