I think Nigerians are more interested in avoiding the amount of money that they have been able to put together from losing its value first this has been the major driving factor for Nigerians seeking alternatives to hold instead of keeping the money in your bank accounts hence a major reason why I feel like Bitcoin and other cryptocurrency are being actively adopted by Nigerians as a way to preserve themselves from the failing economy. The reason why individuals in some other countries tend to invest is totally a different reason from the reason Nigerians invest i think, in some other countries where they have flourishing economies investors first consider that they are keeping away some of their income for the future because of the excess that they have in their possession, but for Nigerians the average Nigerian who do not have excess their first focus is not keeping away some from the excess they have but sacrificing a little from the little they have to ensure that the little they have does not lose more value than the little value it already has.
Are you investing from the little you have just so that you can preserve it from losing its value, or are you investing from the excess that you have so that you can have some for tomorrow? What is your major intention for investing Is it to make profit first or to prevent what you have from losing value? I know you may be wondering the difference, but the difference is that if your intention to invest is to make profit you will be concerned if what you've invested has not yielded any profit whatsoever, but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.
The truth remains that, no country is entirely free from inflation, and so far the use of fiat currency is concern, every country is liable to face inflation just like Nigeria. The only thing is that inflation can vary, while some country might face intense inflation others might be slight.
Personally, I invest in bitcoin for both reasons, to preserve fiat currency value, and also to make profit, and I equally believe these two things goes together because as bitcoin increases in value, your investment also increases in value which also makes your profit.
There are also other reasons why I invest in bitcoin, such as cheap, and faster transaction. The use of bank for transportation can be challenging sometimes, your money can hang as a result of network, and may not get to it's destination, and sometimes you might end up loosing your money. But in the case of bitcoin transaction is fast, cheap, safe, and secured so far your address is correct.
Decentralization is another key factor why we invest in bitcoin. Government is fully in charge of the fiat currency, and conditions every individual on how to use his or her money, but in the case of bitcoin, you are wholly in control of your fund , and you use it the way you want to without being subjected to any governmental policies.
