Bitcoin Won’t Be Stopped – Nigerian Adoption Rises Despite Govt Crackdown
Bitcoin will not be stopped – case in point, Nigeria
Nigerian crypto adoption rises despite gov’t crackdown
“Nigerian cryptocurrency adoption continues to rise despite a government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin (BTC) posting its second strongest week on record last month.
According to data from Google Trends, Nigeria still ranks No. 1 by search interest for the keyword ‘Bitcoin’ as of this writing. P2P Bitcoin trading denominated in the Nigerian naira has also steadily increased in 2021, with Nigeria ranking behind only the United States as the second-largest market for peer-to-peer BTC trading, according to Useful Tulips.
The growing Bitcoin adoption in Nigeria has helped Sub-Saharan Africa emerge as the leading region by P2P volume, with the region posting $18.8 million in weekly volume to beat out North America’s $18 million this past week.”