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HomeBusinessNigeria named global leader in crypto usage

Nigeria named global leader in crypto usage

Airport by top cryptocurrency exchange platform Binance has revealed that Nigeria leads the world in the adoption of crypto in 2021, despite the federal government ban on the trading of digital assets in the country. 

Binance ranked Nigeria in the top five countries for crypto adoption based on a Statista survey in a blog post. Nigeria topped the list at 32 percent, over Vietnam, the Philippines, Turkey, and Peru.

“Topping the list is the African nation of almost 200 million people, mainly on the younger, more tech-savvy side. With most Nigerians adept at sending money and paying through their phones, almost a third of Nigerians surveyed by Statista have used or owned crypto at some point,” 

Read Also: Umahi: Nigeria’s problems are its leaders

At the height of the #EndSARS protests, the CBN last year restricted financial institutions from receiving or making crypto payments.

Read Also: Buhari: Twitter agreed to register in Nigeria

The restricted accounts belonged to predominantly young Nigerians who contributed to the running of the #EndSARS protests. When the Buhari-led regime blocked the Feminist Coalition accounts, a bitcoin wallet was set up, attracting cryptocurrency donations globally.


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