BITCOIN; what triggered its mass adoption in Nigeria

Nigeria recently became the number one Africa country with the most Bitcoin coin adoption. The adoption of Bitcoin in Nigeria has been going on for quite some time now but the recent #Endsars movement made Nigerians see why the coin is more valuable than fiat.

The movement was a protest against bad governance and police brutality in the country. The government made a rash move by suspending the bank account of protesters and making their accounts inaccessible. But cryptocurrency saved the day as many donations were made in Bitcoin. The donation gotten in BTC made sure that the welfare of protesters was well taken care of.

Ever since that incident, more Nigerian have looked up to Bitcoin adoption to help reduce government control over them. It's been frustrating to be governed and having no say in how you want your life should be. Bitcoin and cryptocurrency change a large portion of that.

Also, the continuous devaluation of the Nigerian currency naira, against the dollar continues to make holding the naira useless. To beat this devaluation and make their money valuable, many have converted their cash/assets into Bitcoin (cryptocurrency).

This has worked out perfectly in their favor as the value of bitcoin continues to grow and counterfeit the devaluation of the naira.

Also, many Nigerian's have realized the endless opportunities opened in the crypto world and one is becoming a crypto trader. A large number of Nigerians have invested heavily in buying Bitcoin to sell and sometimes hodl.

Nigerians have also seen Bitcoin as a store of value that could be added to its portfolio of assets. Bitcoin remains one digital asset with large changing opportunities and that's one reason so many Nigerians keep adopting it.

The rate of the adoption of Bitcoin among Nigerians continues to increase as more people continue to get educated about the coin. The endless possibilities attach to Bitcoin, makes it look like a way out of financial bondage.

Posted Using LeoFinance ^Beta