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Author: Admin | 2025-04-28
Cryptocurrency has fared in this region over time.State of Cryptocurrency in NigeriaThe national legal provisions for crypto-related activities in Nigeria are unclear at the time of writing, although just like in many other countries, cryptocurrency is not legal tender in Nigeria at time of writing. However, this has not deterred the growth of crypto-related businesses and the adoption of crypto assets and blockchain technology in this region. According to data published by CoinGecko, Nigeria accounts for over 66% of tracked interest in cryptocurrency in Africa.Cryptocurrency serves two purposes here, a swift banking medium and a financial investment. Evidently, the latter is the principal attraction, but there have been instances of local Nigerian businesses accepting cryptocurrency payments. While blue chips like Bitcoin and Ethereum, along with stablecoins (USDT predominantly) are the most desired assets in this region, Nigerian investors are also interested in cryptocurrencies as an investment. In line with the goal of generating significant and fast income from crypto investments, Nigerian investors have also shown a strong attraction for memecoins, NFTs, low-cap altcoins, and incentivized programs like airdrops and bounty hunting. For Nigerians, cryptocurrencies, especially stablecoins also play a minor role as a hedge against inflation.Nigerians have also shown strong interest in other areas related to crypto. A CoinGecko research piece places Nigeria as the country with the third highest interest in crypto jobs with a search score of 143. This also follows a number one rank in CoinGecko’s “Top 15 countries most curious about cryptocurrency”. Nigerians’ interest in cryptocurrency
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