Topic: what is the future of bitcoin in Nigeria? - page 2. (Read 649 times)

We have noticed a lot of discussions about Bitcoin in Nigeria recently. Nigeria is an underdeveloped country and at present people are associating themselves with various projects for development. Bitcoin is slowly gaining favor in Nigeria I think Bitcoin will make a big splash among Nigerians in a few days. I think the problem of unemployment is a central point not only in Nigeria but in all underdeveloped countries in the world. This unemployment problem is creating various types of anarchy in the country as well as continuing the life struggle to create their own employment.

Although the Nigerian government has not taken any action on Bitcoin investment, the people of the country are constantly managing themselves in Bitcoin investment by adopting various strategies and trying to hold on to Bitcoin.

Well the only thing I believe is slowing down the prominence and dominance of Bitcoin is the government policies that is prohibiting the usage of Bitcoin and other cryptocurrency in Nigeria, now even with all of that, Nigeria still stands as one of the highest users of Bitcoin aswell as traders in Africa, this is to tell you that Bitcoin indeed has got a very promising future in Nigeria except from the hitches around government policies which I believe too that with time Nigerians will get over them.

Basically I'm of the opinion that in Nigeria Bitcoin has got a future and it's only with a matter of time and it will manifest so well that for the early bird's they will be glad they did, away from Nigeria looking at the bigger picture, Bitcoin has gotten a really bright future anyone would want to join in considering it's continued adoption by various countries and top organizations.

Buddy to be honest with you the future of Bitcoin in Nigeria is extremely bright, Nigerians has started thinking outside the box, if you look at the way things are going, very soon people may not be seeking for employment that much again because even though an individual doesn't want to be much involved in Bitcoin, there are other places where people can build their career, the real estate you mentioned, software engineering and so on but the major thing is what we really want as individuals, Bitcoin has come to stay, Nigerians has embraced Bitcoin more since the government decides to frustrate it here by blocking some exchange companies operating p2p from functioning in Nigeria, this particular action of the nigeria government has made some uninterested individuals to begin to think otherwise to know what Bitcoin is all about, as its stand now If you make your research, you will understand that Nigerians are very much into bitcoin presently than before  though mainly they rich and some other persons that understands the potentials of Bitcoin.

The reason why many Nigerians are now into Bitcoin is because our currency has been made to be a subject of ridicule so why will someome keep a tissue paper like currency in the bank lying low without generating any interest while the same amount would have been used to buy Bitcoin and hodl for a long-term in other to get profit in the future.

In as much as Bitcoin is decentralized and may not directly affect our economy, it'll still help us in many ways, such as; impact on our mentality. Excuse me but, if we had the right monetary/ economic mentality in this country, then I doubt we'll be in such a downturn. Even though it's a mentality for our personal finance, if at least 45% had the right knowledge about finance, it'll help our country in diverse ways. A shift in mentality is probably the most important thing we need now in the country, and Bitcoin is helping in that area. People who don't believe in savings and investment, now invest in Bitcoin and hodl it.

From the shift in mentality and acquisition of valuable knowledge, we can have other effects like, more people who want to be in the manufacturing sector of the country, more people who want to go into politics, more people who want to help the agricultural sector of the country. Then comes industrialization, and other nice things which we hope for. So Bitcoin, if utilized properly in our country would help us build a good future for ourselves and our country.

The future is buy and hold, it's as simple as that. If it's adoption, forget that for now unless we have another government that want to have something to do with cryptocurrency. This particular government thinks that crypto is the reason why their currency is dying after they have subsidies for years, they think crypto is the real problem and as long as the government doesn't like Bitcoin, there is no future of it Nigerian.

Individually, if people are ready to buy and are willing to hold, they will benefit from it because Bitcoin isn't something that shows on your face that any one can use to threaten you. Buy from exchange, withdraw to your personal wallet and don't keep it on your phone. There is no.clear stand of Bitcoin in Nigeria but I will advice you don't show popo that you have Bitcoin because you of your own safety, popo can harass you for having Bitcoin or even extort you.

Bitcoin future in Nigeria is going to be great and it has already started because if you look at countries that involved in cryptocurrency Now if Nigeria is not number 1 it will be number 2, Nigeria has become a country where the youth are interested in Learning cryptocurrency than jobs because they always see job as a stress, having a good job in Nigeria that will give you enough money to be able to feed yourself and your family is not easy but cryptocurrency will give you enough money when you are serious in it.

If you look at our government action towards bitcoin or cryptocurrency you will see that they have notice that there is a lot of money in crypto and the youths prefer crypto and investing in bitcoin than even government work that is why they are jealous about it, I don't see anyone who is a graduate stressing and be complaining like before that he or she don't have work and the government did not give work, everybody has understand how life's is going and they learn how to succeed in life without government, Bitcoin in Nigeria will be a surprise thing to us one day because it has been a life savings for many people.

Cryptocurrency awareness dey grow like wildfire for Naija, even girls don dey try understand wetin bitcoin be. That being said, no go think say e go make country better or make people suddenly rich, bitcoin na money and na also investment, so to get am you go either get money or you go get wetin you sabi do wey go make people pay you in bitcoin.

Our government no dey friendly to crypto right now, dem no too understand am and e dey cause dem to make bad decisions, as a result of that, the Nigerian government come be like hurdle to bitcoin and crypto growth/adoption in Nigeria.

E dey every obvious say the future of Bitcoin will be very great in Nigeria. If you look at the previous years we Nigerians no dey used to cryptocurrency but as time goes on everybody don dey know it value for this country. Anyway that will generate money for the Nigeria youths just believe that it will be great in the future, the way our economy are getting bad, you think say if weren't for the help of cryptocurrency no be waiting we dey talk our eyes will be seeing at this point. Every Nigeria youths you see will talk about cryptocurrency, both the illiterate and the educated person because our mind don dey with the way we are suffering, everyone has believe say cryptocurrency is the way to survive.


The youth of this country have already familiar with cryptocurrency well well, ones that are not investing in Bitcoin are mining other coins, is because of cryptocurrency most of our youths are making money through all the telegram mining. Last year we don't have such like mining on telegram and make real money but things are different this year, that's why we believe that the future of Bitcoin and cryptocurrencies will continue to look amazing in our country.

The truth is, a lot of people are looking for multiple streams of income and having heard of cryptocurrency and Bitcoin trading, they're getting involved. Even if they don't adopt it fully at first, they're allocating like 20% time of their time to learn about it, believing they'll profit from it eventually.

Cryptocurrency has a good stand in Nigeria, as long as the government doesn't put policies that restrict it. I mean, we know Binance doesn't operate freely in Nigeria, and some P2P exchanges have limitations, but we're still pushing forward. We're finding ways to utilize cryptocurrency to our benefit.

As long as the market is stable and crypto keeps growing, Nigerians can tap into it for their own benefit, we can make use of it to our advantage.

Nigeria is one of the developing countries in the world so i believe that bitcoin will surely have a promising future in the country despite some controversy that the government tried to scare people away from dealing with bitcoin and cryptocurrency in general. The reason why it looks like Nigerians haven't been upfront about anything related to cryptocurrency is because there are few or no pro bitcoin activists in the country who can speak or stand for people who are into cryptocurrency or rather crypto enthusiasts. That notwithstanding, if bitcoins gain full adoption i believe the government will be left with no option than to follow suit and allow crypto enthusiasts operate freely without restrictions.

Ranked no. 2? haven't heard of that before but i will appreciate if you back up your claims with proofs because i know that a lot of Nigerians are into cryptocurrency but being ranked no. 2 in the world is what am yet to believe

How did you come up with these statistics?

Currently over 70% of young people in Nigeria are into cryptocurrency and possession of digital assets, although other age grades in Nigeria have also adopted crypto. The high rate of employment, inflation coupled with the depreciation of the Nigerian currency has caused many young people to involve in cryptocurrency especially Bitcoin. Even those involved in white collar jobs has also adopted the use of cryptocurrencies. If there can be policies that would improve crypto exchanges then there will be a guaranteed future for Bitcoin in Nigeria.

The future of bitcoin in Nigeria is very bright. And if anyone like to invest let him or her should start now by using the DCA method to buy every week. Bitcoin will change many lives in Nigeria. Mostly those who are investing now. Time is coming that the leaders will also support bitcoin. And bitcoin will be use in election than dollar and naira.

And by then the adoption will be high. Blockchain technology education will be given to the youths through seminars in youths empowerment programms.

Before we talked about the future of Bitcoin in Nigeria, we go first of all, look for its adoption in the country. As our country d so, we all know sae Bitcoin is not welcomed by our present government. We have seen how they are up against the crypto exchanges, accusing them of naira devaluing to dollar. Despite all these kasala from our government, Bitcoin keeps soaring and the future already looks great because the way Nigeria citizens has been utilize it to their advantage, to be financially free, as a side hustle, store of value and as another means of payment, you no need peso to tell you sae how the future looks with Bitcoin.

E be like say you never understand say anything wey Nigerians don fit dey do constantly and e dey legit, dey fit bring moni and fit reduce cost, say e no get the kind noise government wan make, Dem go still find way to do am.

See how much the local board section in this forum is growing to expansion and how much exchanges and fintech banks and online merchants are being innovative to meet the rising demand of Bitcoin and some major crypto currency in use.

The government would like to control the exchanges because all they care about is where the money is, not the innovations nor the technology nor the developmental benefits it would bring to the society.
 Well, many of us don't really depend on the government for our livelihood as individuals and both  those who have or don't have jobs and have found a solution in trading to put money in their pockets are more than those who have legit jobs only or not at all.
 So majority wins the vote when it comes to the future of Bitcoin and cryptocurrencies use in the country, the government just says what it wants because they can officially, but na money be koko.

People are complaining about the economy because everything is expensive in the country right now, but there is a way that some people are not feeling the pressure that others are because they have something large that is bringing them enough money to spend and buy whatever they want. No one who graduates from school considers working for the government since it will be difficult to find work because there are many individuals who have gone before you and there is still no work for them, unless you have a long leg that will help you do it. If it wasn't for all the online businesses and investments that people are making, I don't think we'd be where we are today. Bitcoin is a better opportunity for us since it supports us when the price rises, which I am sure will be difficult for those in this community who do not invest in bitcoin. Expect is still unfamiliar with bitcoin or is a newcomer who wants to learn more before investing in it. Adrop has encouraged people in Nigeria to focus on cryptocurrency and exchange it for better funds. Cashouts have led to questions about how it works and a growing interest in it.

The future of bitcoin in Nigeria will  just be fine, just that the  leaders we have currently are "anti bitcoin". if we have a good leadership with a good vision of the economy then we can think of bitcoin to be good here. we need a system like that of El Salvador president, then we can hope for a massive growth of bitcoin adoption. even if such leader does not go to the extent of El Salvador level. But nevertheless we are still doing great despite the government stubbornness. The highest thing they can do is to add tax to CeX enchages just like they did currently in bitget.

On a norms each individual should have been able to learn a skill to suatin themselves, which should be done before venturing into higher institutions. The problem we have is that we hope too much on government work and thinks that after graduating from school everything will be easy due to our programed mental reasoning or mindset, and we get disappointed and blame government for everything. Yes government is bad, but if you are independent with you skill, you wouldn't bother yourself about government and their manipulation. Although it is affecting everyone but as people are complaining some people are building houses. and guess what those people are not making money from government.

And one thing is that anybody learning cryptocurrency is not learning hand work because bitcoin investment don't bring passive income rather a place to invest the money you work out from you skill. Those who even trade bitcoin can not bost of a passive income due to its volatile nature. So note that anyone leaning about bitcoin is not learning to make passive income but leaning an investment strategy for the future.

Use this forum as an example because we see on this forum that our numbers are increasing, which also can indicate that the number of Nigerians getting exposed to something called Bitcoin is increasing daily. Nigeria has always been one of the countries with a high rank in the global adoption index for bitcoin, and regardless of governments efforts to suffocate the growth, bitcoin has strived. It is a show that the future of bitcoins in the country is indeed very promising.

We have been hoping that Nigeria will be a cryptocurrency hub country but with the way the country’s economy is, they will not want to settle for anything like that now. The economy of the country is so bad that if youths settle for cryptocurrency and government helps in enhancing and give them that access to utilize this opportunity well, they will embrace and help reduce unemployment in the country. This does not mean Nigeria will never accept anything that has to do with cryptocurrency, but they’ll follow in the footsteps of other big nations that have embraced and utilizing the opportunity for the betterment of the country. I know things will change for the better in the future but for now, cryptocurrency is not yet saturated to the point that the Nigerian government will be able to adopt and implement it.

This link might be what you are looking for…

The government has been against bitcoin indirectly, but when you publicly confront them, like the last CBN governor said, they never banned bitcoin from the country; they only asked financial institutions to stop providing services for such. 
 
Until it's illegal Nigerians are still fully involved in it, and even if it's illegal, you know how our country operates. We are stubborn, and we do what we know will be beneficial to us since the government is not really helping.
 
Then again, if you look very well, you will also notice yourself. They even know the Buhari regime. Bitcoin was not a total band trader; we were just being attacked, but we have publicly operating exchanges and crypto service providers that are licensed by the same government, like Patricia, etc.

I would love to see a link to this to give me deeper insight on how they arrived at this because I'm not expecting such results knowing how hard our government have tried to frustrate people from using bitcoin. I knew we were doing so well in bitcoin before but since Buhari started his attack on bitcoin followed by Tinubu crackdown too, I was thinking many people would have left the space resulting in sharp decline in bitcoin adoption. Anyways, it is good to know that the attack of government on bitcoin and cryptocurrency platforms did not affect the adoption of bitcoin in Nigeria that much.

Therefore, I believe that bitcoin have a promising future in Nigeria as it has the potential of making the next set of millionaires in the country since the oil sector and the political business have already been hijacked by desperate people. People should consider investing in bitcoin and holding for the long term.