Nigeria: A Sleeping Giant in Crypto Space?

Nigeria Crypto Adoption

To say that Nigeria is the king of Africa is an understatement, they sure do not have the large landmass like Algeria but they sure do have the biggest population and economy in the continent. Nigeria is also the 27th largest economy in the world but despite its resources, it stands to reason why Nigeria should be higher in the rankings.

Source: https://www.freepik.com/premium-photo/nigeria-bitcoin-flag-national-flag-cryptocurrency-concept-black-background_21575431.htm

What is Nigeria’s potential in the Crypto Space?

Cryptocurrency in Nigeria is in a growth trajectory despite all the stumbles like the Pandemic and the recent ban by the CBN. Unlike developed countries such as the USA where Cryptocurrency is viewed more like a commodity or investment, cryptocurrency in Nigeria is solving a problem and that is the lack of access to financial services. Add to that an increasing inflation and a depreciation of value in the national currency, you can see why Cryptocurrency is important for Nigerians as a means of exchange.

Source: https://voi.id/teknologi/55889/nigeria-adopsi-bitcoin-besar-besaran-mata-uang-naira-ditinggalkan

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Nagaya Technologies

Nagaya Technologies

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NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/