The Central Bank of Nigeria (CBN) has warned citizens that Bitcoin and other digital currencies are not legal tenders. But it seems that Nigerians don`t care about this – investment platform has discovered.
In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) has stressed that Bitcoin is prospering in the country, despite anti-crypto policy of the Central Bank.
The Nigerian Senate has also very negative mood concerning Bitcoin and blockchain, it tries very much to suppress popularity of cryptocurrencies. Although, citizens feel uncertain about disappointing government and the ongoing economic disparity.
Nigerian economy is on the decline. A combination of anaemic growth and a fast-growing population means that the economy has been shrinking in per capita. As a result, Nigerians trust more in digital assets, which are though unregulated, but provide financial freedom.
As researches demonstrate, since 2011 BTC was mostly popular in Northern Europe, Russia, New Zealand, the United States of America (USA), Germany, the United Kingdom (UK), Singapore, and Hong Kong. However, the first cryptocurrency`s popularity vector has changed towards Nigeria and South Africa. And to this day these two countries remain “hot global points of BTC”, here Bitcoin tendency continue growing.