A recent study reveals that 47% of Nigerians are actively involved in cryptocurrency trading, reflecting a significant incorporation of digital assets into their financial activities.
The research, conducted by Coin Journal, indicates a 15% increase in crypto ownership in Nigeria between 2020 and 2023, despite the Central Bank of Nigeria's efforts to limit crypto use.
The devaluation of the Nigerian currency and rising inflation have driven many Nigerians to turn to cryptocurrencies like Bitcoin and USDT for financial stability.