Why do alot of Nigerians still doubt bitcoin despite its growth?

[Crypto_Timothy]

I mean there has been growth, yes, but alot of Nigerians still have doubts about Bitcoin even though it has grown over the years and gained more attention globally, well a lot of this doubt comes from how unstable the price can be and of course also from past stories of people losing money. In a way we can say some people don’t fully understand how Bitcoin works, so they just see it as something risky or even like a gamble, instead of a real asset that they can grow, you know.

Here is the thing, even with all this growth and awareness, the doubt is still there, especially among new or I would say average investors. So I want to ask, in 2026, why is the doubt Bitcoin in Nigeria still at large?

I mean I could be wrong, so if you believe the doubt isn't there, please fell free to share.

[Hatchy]

Please can you share a link or reference on where you saw that Nigerians still doubt? I'm not saying there aren't a few people who haven't adopted bitcoin, but saying that a lot of people haven't adopted it may not be true.the rate of crisis and poverty in the country, I think should be a major factor why people might not be bothering about cryptocurrency. Only those who probably have alot of money at hand would want to worry over investment. People right now are more concerned about survival and feeding of their family members. so investing in bitcoin may not cross their mind even once.

[Karl_3000]

Please can you share a link or reference on where you saw that Nigerians still doubt? I'm not saying there aren't a few people who haven't adopted bitcoin, but saying that a lot of people haven't adopted it may not be true.the rate of crisis and poverty in the country, I think should be a major factor why people might not be bothering about cryptocurrency.

What Crypto_Timothy said is not totally not true, bitcoin adoption rate in the world is approximately 5% with North America having the highest which is approximately 10%. If 90% of people have not bought bitcoin in North America while United States has the largest population, you can see how he is not totally wrong.

But you are also not wrong also because poverty could be one of the reasons many people do not buy bitcoin, but can you believe that 10 to 30% of Nigerian have been part of the people that have adopted cryptocurrencies? Which I still think it is high but I noticed some people know what bitcoin is but they do not buy it. I have friends that I told to buy bitcoin, they keep procrastinating which can easily be known that the probability that they will buy it is very low.

[Bitcoin.com97]

Bitcoin investment is not something to announce publicly, to some that like privacy chose to silently accumulate ,   it’s more of  private to some ,  so you don’t expect everyone involved to list out there names , so I don’t think Nigerian are doubting it , those who knows the value has started there accumulation journey, saying the doubt in Nigeria is large , shows that you have a statistic to prove at least to support this belief, awareness is the major thing , and many are aware now and many are into Bitcoin investment now , i have seen youths of Nigeria talking about it and it’s spreading, so why saying many are still doubting it , that is not true .

[Tongley]

The current situation of our country and our financial position are all in all, we are much ahead compared to other countries. The poverty rate in our country is very high, many people understand Bitcoin very well and are interested in investing, but they may not be able to invest because of poverty. At present, our country has come a long way in terms of Bitcoin investment. There are many countries who think that Bitcoin is a fraudulent currency and they do not recognize Bitcoin. We are much ahead in all these aspects. If we look at our youth, we will see that they are very interested in Bitcoin and they are very much inclined towards investing. However, there are some people who do not believe in Bitcoin, their conviction will be proven wrong one day. Just as the 5 fingers of the hand are not equal, not everyone's thinking is the same.

[Bigjoe33]

Please can you share a link or reference on where you saw that Nigerians still doubt? I'm not saying there aren't a few people who haven't adopted bitcoin, but saying that a lot of people haven't adopted it may not be true.the rate of crisis and poverty in the country, I think should be a major factor why people might not be bothering about cryptocurrency. Only those who probably have alot of money at hand would want to worry over investment. People right now are more concerned about survival and feeding of their family members. so investing in bitcoin may not cross their mind even once.

Na Person wey chop belle full na him dey go buy new cloth wear for body. If u no chop well, how u won use go throw birthday party make people Cole chop.

There might be people who don't agree to that, but it's on a very low side, very very low. Like Hatchy said, the country is in a big mess, struggling to survive and finding every possible means out of poverty. Will such Persons sink there money into Bitcoin, and then HODL for years?, Clearly No. You might never tell, there are many who love Bitcoin, but can't get involved due to lack of finances or there standard of living. So, they can only fantacise in there minds, but buy. I believe alot are up for Bitcoin, so many and it's growing daily

[Rockson1]

Please can you share a link or reference on where you saw that Nigerians still doubt? I'm not saying there aren't a few people who haven't adopted bitcoin, but saying that a lot of people haven't adopted it may not be true.the rate of crisis and poverty in the country, I think should be a major factor why people might not be bothering about cryptocurrency. Only those who probably have alot of money at hand would want to worry over investment. People right now are more concerned about survival and feeding of their family members. so investing in bitcoin may not cross their mind even once.

Good question, I wanted ask him the same question before I saw that you did, some persons are not good at making research before coming with something that can trigger further arguments, Nigeria is one of those countries it's citizens has gone very far in terms of adopting of Bitcoin individually, although their are some setbacks because of how the government of the day sees anything called digital asset, but Nigerians are doing great in cryptocurrency generally, so I do not know where the op got his facts from, I will also be glad if he can answer your question may be there is somethings we do no know.

[Dareo]

Bitcoin investment is not something to announce publicly, to some that like privacy chose to silently accumulate ,   it’s more of  private to some ,  so you don’t expect everyone involved to list out there names , so I don’t think Nigerian are doubting it , those who knows the value has started there accumulation journey, saying the doubt in Nigeria is large , shows that you have a statistic to prove at least to support this belief, awareness is the major thing , and many are aware now and many are into Bitcoin investment now , i have seen youths of Nigeria talking about it and it’s spreading, so why saying many are still doubting it , that is not true .

It is true that many people are quietly accumulating Bitcoin, it is not a matter of telling everyone. Especially where there are security or regulatory concerns, people naturally want to keep a low profile.

But at the same time, it is not right to say that there is no doubt at all. In fact, both go hand in hand those who have understood, they are moving forward quietly and those who are new or have had bad experiences in the past, they are still hesitant. I think it is not a matter of doing doubt or not but rather it depends on who is at what stage.

[Sunshine1525]

The poverty rate in Nigeria is too much, it's a sad truth but that's a fact, many people don't care about investments, they bother more about survival or making quick money that's why they don't think of going into Bitcoin cause they can't wait for so long for a better chance of being wealthy.

Another thing is ignorance, many people are ignorant of how the volatility of Bitcoin works, they don't know they can use the DCA and volatility won't be a burden to whatever they invest in Bitcoin, it's not like shitcoins that dumps without being able to recover. It's kinda surprising because the current value of Bitcoin from what it used to be like is enough reveal the potential of Bitcoin in a lengthy time frame to anyone.

[Donk1]

Well perhaps I like to believe that though you aren't specific on which of the Nigerians are doubting Bitcoin. Because to me you might possibly be talking about the new investors/newbies in crypto who are yet to have any experience in crypto or those set of Nigerians who have fell for one of all this shitcoins and their schemes.

​That said Nigeria being a country that is still undergoing development of technology, to me, most folks are still yet to know about Bitcoin. Even at that there is no possible way for you to prove that anyone is doubting the value of Bitcoin as we know it...compared to other altcoins that has no lasting value Bitcoin has proven it worth not just as the first crypto but it history has said it all. So yeah anyone who is still having doubts about the technology because of it price swings is still not ready to invest or maybe they lack the funds for investment. And as e dey be so for this our country you fit save money today make tomorrow that money go save you and that's the major reasons most folks sell at a loss because they are in need of the funds they just invested. Overall most of the folks that lost their money is due to lack of responsibility of there coins and at the end of the day their seed phrase are lost...that's just it for me whether people doubt Bitcoin or not there is no accurate proof of it so yeah no one can tell.....

[Dzwaafu11]

Bitcoin investment is not something to announce publicly, to some that like privacy chose to silently accumulate ,   it’s more of  private to some ,  so you don’t expect everyone involved to list out there names , so I don’t think Nigerian are doubting it , those who knows the value has started there accumulation journey, saying the doubt in Nigeria is large , shows that you have a statistic to prove at least to support this belief, awareness is the major thing , and many are aware now and many are into Bitcoin investment now , i have seen youths of Nigeria talking about it and it’s spreading, so why saying many are still doubting it , that is not true .

Maybe the op think compare to other country many people are still doubting Bitcoin which is not really bad for saying that.

However, you said one major thing that stop many people from investing in bitcoin, we have many people who actually know well about bitcoin but can’t invest because they don’t have money to do that. And I think youths are struggling to eat daily because of the country economy, you can see that none of them will boarder to invest in bitcoin even if they know about.

Another thing is that investment is not something you will tell the public you have , so there is still some people who are accumulating bitcoin but don’t show off, I know many people like that are they are Nigerians.

[BluebloodCXVI]

Based on thorough research I got to find out that Nigeria is among the top 2 countries globally that have had very high bitcoin adoption, this means that a lot of people in the country hold bitcoin now this brings us to the Big question of why most people still doubt it even it is the most held cryptocurrency in the country.I believe it’s because most folks aren’t fully convinced about bitcoin as a long term store of value and a reliable financial system that’s why this doubt still lingers in their minds so even though the amount of people that use bitcoin is high in Nigeria,  most of them tend to try and apply cautious participation because they don’t fully understand bitcoin to its core .

[Crypto_Timothy]

Please can you share a link or reference on where you saw that Nigerians still doubt? I'm not saying there aren't a few people who haven't adopted bitcoin, but saying that a lot of people haven't adopted it may not be true.the rate of crisis and poverty in the country, I think should be a major factor why people might not be bothering about cryptocurrency. Only those who probably have alot of money at hand would want to worry over investment. People right now are more concerned about survival and feeding of their family members. so investing in bitcoin may not cross their mind even once.

Actually, very true, times are hard right now so alot of persons may not be thinking about investing Bitcoin but what i was trying to reference was how some of my course mates last week i was talking to them about Crypto and during the cause of the discussion it just occurred to me that they do not see investing in Bitcoin as a good decision. One of them even said he prefers to invest in something he can see and have hold of and to be honest, it just got it thinking like, even in 2026, people are still having doubt about Bitcoin, so i just said let me ask people here.

Good question, I wanted ask him the same question before I saw that you did, some persons are not good at making research before coming with something that can trigger further arguments, Nigeria is one of those countries it's citizens has gone very far in terms of adopting of Bitcoin individually, although their are some setbacks because of how the government of the day sees anything called digital asset, but Nigerians are doing great in cryptocurrency generally, so I do not know where the op got his facts from, I will also be glad if he can answer your question may be there is somethings we do no know.

Honestly my intention wasnt to mislead or inform anyone, like i just replied Hatchy, the topic came to mind after i had some discussions with my course mates recently and from what they were saying it just got me thinking if Nigerians still doubt Bitcoin in 2026.

Like I said, i know for sure that there has been growth in recent years in adoption, so that is why when someone is telling me he prefers something he can see and touch because he doesnt trust anything Crypto, you know, it just gets you thinking and genuinely i just wanted to discuss that with the forum.

Post merged by the moderator

[Rockson1]

Good question, I wanted ask him the same question before I saw that you did, some persons are not good at making research before coming with something that can trigger further arguments, Nigeria is one of those countries it's citizens has gone very far in terms of adopting of Bitcoin individually, although their are some setbacks because of how the government of the day sees anything called digital asset, but Nigerians are doing great in cryptocurrency generally, so I do not know where the op got his facts from, I will also be glad if he can answer your question may be there is somethings we do no know.

Honestly my intention wasnt to mislead or inform anyone, like i just replied Hatchy, the topic came to mind after i had some discussions with my course mates recently and from what they were saying it just got me thinking if Nigerians still doubt Bitcoin in 2026.

Like I said, i know for sure that there has been growth in recent years in adoption, so that is why when someone is telling me he prefers something he can see and touch because he doesnt trust anything Crypto, you know, it just gets you thinking and genuinely i just wanted to discuss that with the forum.

OP I understand where your statement was coming from but you do not just conclude things just because you had a discussion about Bitcoin with few persons who might not have good understanding of Bitcoin, it obvious that your course mates may not know much or even nothing about Bitcoin, the might also fall within the category of individuals that are skeptical about everything that concerns digital asset as such the might be generalizing everything as crypto without having the knowledge that Bitcoin is a unique asset of it's own, a store of wealth and the only digital asset that has made much history, a digital currency that has proven it's long-term benefit overtime. Bitcoin is not other crypto, Bitcoin is Bitcoin just know that please.

I want to correct you on something, although I understand that was a mistake but do not it next time, you would have quoted me and Hatchy the same time or after quoting one persons, just be patient for two or more person to write before you write again, you might be spamming your own thread unknowingly to you, athough I understand that you may not know this just try not to that next time.

[PremiumcryptoHub]

To be honest, despite the growth of Bitcoin over the years and the global attention it has garnered, many of us Nigerians who are skeptical about Bitcoin are actually newbies or casual investors. But OP, don’t worry because I have seen several articles where our country is among the top 10 countries in Bitcoin or cryptocurrency adoption. It is true that despite the growth and awareness, many people do not like to invest in this currency due to its volatility, maybe some Nigerians are among them, however overall it seems to me the level of Bitcoin adoption in this country will expand further in the future.

[Moreno233]

I don’t know where you got this information from, have you done little survey to arrive at the conclusion that a lot of Nigerians doubt Bitcoin? Do you even know that Nigerians are among the countries that own more Bitcoin than the rest of he world? Nigerians do mot doubt Bitcoin, it is just money that is stopping some people from accumulating large amount of Bitcoin and holding, but we are doing well already because a lot of young people have huge stash of Bitcoin.

[Cryptomultiplier]

This Naija wey we dey so, anybody wey just know say you dey into Bitcoin investment fit just assume say you be big man and fit even plan how e go take advantage of you to take get some, if no be by wayo, e go fit be by kidnap or scam attack.
However, e still get people wey dey do am and Dem get better knowledge both how to read analysis, invest in a and use am and make predictions of the price movement, but Dem dey hide.

So for us wey dey here, e good to not only talk about am, but learn to invest in Bitcoin by hodling or accepting payment with it for any business transactions we do. Na the best way more users go come onboard and adopt am and Den, the government no go get any choice but to make am a legal tender.

[Humblevirus]

If I may say, I will say there are still a large percentage of Nigerians who have not adopted Bitcoin. There may be one or two reasons why they have not adopted Bitcoin. It may be because they have not been educated about Bitcoin, and some are illiterate, meaning they cannot read and write.There are also a set of people who do not follow the advancement of technology, they cannot operate computers and do not have much idea of how to use the internet. So, I will say that most of those who have not adopted Bitcoin may have good reasons for that. It is not necessarily that they understand how Bitcoin works and are doubting it.

The only people I would say are doubting Bitcoin are those who have heard about it, learned about it, and still did not agree with it. However, I would say that only a few people truly understand Bitcoin and still doubt it.Most of the reason why some people think others are doubting Bitcoin is simply because they have not started investing. Their reason may be that they do not have money to invest, because even the money they earn is not enough for them to feed properly.So, let us not misunderstand those who do not have money to invest in Bitcoin for now as people who are doubting Bitcoin.

[Joy_learns_crypto]

I mean there has been growth, yes, but alot of Nigerians still have doubts about Bitcoin even though it has grown over the years and gained more attention globally, well a lot of this doubt comes from how unstable the price can be and of course also from past stories of people losing money. In a way we can say some people don’t fully understand how Bitcoin works, so they just see it as something risky or even like a gamble, instead of a real asset that they can grow, you know.

Here is the thing, even with all this growth and awareness, the doubt is still there, especially among new or I would say average investors. So I want to ask, in 2026, why is the doubt Bitcoin in Nigeria still at large?

I mean I could be wrong, so if you believe the doubt isn't there, please fell free to share.

The doubt is there as the bitcoin doubt Dey other side, but I will agree to wetin Hatcy tell you, the adoption of bitcoin in Nigeria Dey purely clear.
Where Nigeria Dey now we done move from bitcoin doubt although it is not everyone, people Dey whey go still doubt but no be as alarming as you Dey make am be.

[fredericktaylor]

I mean there has been growth, yes, but alot of Nigerians still have doubts about Bitcoin even though it has grown over the years and gained more attention globally, well a lot of this doubt comes from how unstable the price can be and of course also from past stories of people losing money. In a way we can say some people don’t fully understand how Bitcoin works, so they just see it as something risky or even like a gamble, instead of a real asset that they can grow, you know.

Here is the thing, even with all this growth and awareness, the doubt is still there, especially among new or I would say average investors. So I want to ask, in 2026, why is the doubt Bitcoin in Nigeria still at large?

I mean I could be wrong, so if you believe the doubt isn't there, please fell free to share.

In the past, there were various negative ideas in the minds of common people about Bitcoin, but with the change of time, Bitcoin has completely changed everyone's negative ideas. Since the price of Bitcoin fluctuates rapidly, many people do not feel comfortable investing in Bitcoin for this reason. However, I think those who have the right knowledge about Bitcoin are never afraid to invest due to market volatility, they know very well that the price of Bitcoin will increase and decrease, which is normal. I think the decrease in the price of Bitcoin means that a new opportunity is created for investment.

Bitcoin long-term asset, its value increases gradually. Only those investors who buy Bitcoin with confidence with the right knowledge and hold it for the long term and wait for better times in the future can profit from Bitcoin in the long term. Consistency in your knowledge and investment and confidence in Bitcoin can lead you to success.