Topic: what is the future of bitcoin in Nigeria? - page 2. (Read 487 times)

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.

Due to a good perspective, bitcoin has a bright future in Nigeria, but due to some consideration, like from the government side, I think we might have a setback of cryptocurrency because a lot of people are really trying to gain knowledge about cryptocurrency, but without a good adoption from the government, noting will go that far, and some people still go to the wrong way to obtain their knowledge, and it will also affect them in the future.

Them dey ahead of us. Nor be by number of P2P transactions you go use do your assessment. Nigeria government nor dey crypto friendly and their policies dey make crypto companies nor dey fit invest for Nigeria or do business here. So in terms of the business and investment aspect of bitcoin, investors go prefer to do their business for countries wey dey crypto friendly than to risk doing business for Nigeria.

I don't think those countries are ahead of us, we can only say that they are ahead of us because they are openly dealing with bitcoin and their government gives permission to it, but that doesn't mean that we aren't doing well. If you must know the number at which we are running p2p services are much higher than those countries and like I observed Nigeria has the most active cryptocurrency involvement in the whole african and has ranked number 1 among all but even as that they are not Bitcoin friendly (this statement is just like a mirage) but yet people are getting involved in every moment.

Yes, OP dey talk in terms of bitcoin adoption for Nigeria. We know say bitcoin adoption rate differ from country to country. For example country like El Salvador wey adopt Bitcoin as legal tender don dey ahead of us for bitcoin adoption or countries way get bitcoin friendly policies still dey ahead for the bitcoin space compared to those wey dey live for anti-bitcoin countries.

Does bitcoin has any specific future for each country if I may ask?
Your question is just like saying ' I will go to bed and sleep but I don't know when to wake up' knowing too well that one must wake up, except that person is critically ill at a point where he wouldn't know to give up or still live.
The thing is, we all optimistic about bitcoin but there is no preference to people in Nigeria about bitcoin but we all have same accessibility to operate in bitcoin, buy, sell trade this same right are giving to everyone all over the country and globs, except for those are still in the 4 and 5fit world country where they lack means of communication or technology. Even as that we have great future provided everyone has access to net and of course this century people are easily open to learn and teach themselves things even without having to move from their respective homes.

You have to be confident in your abilities as a person to talk about Bitcoin. It's better to be negative about what the government has done or could do where our government adds a lot of lame excuses as barriers to Bitcoin adoption. As a Bitcoin investor you should continue to accumulate Bitcoins as much as you can and tend to enjoy your financial freedom as a holder in the future. By making reasonable and continuous deposits over a long period of time you can become a holder and be positive for profit.

Bitcoin should be considered as a reliable source of alternative income rather than a career and with the possibility of getting high holdings as well as verifying one's ability by depositing every week or every month.

Future of Bitcoin here, are you referring to Bitcoin being adopted as a currency in the country or you mean as a source of income for Nigerians. As for Bitcoin being accepted in Nigeria, it's very possible and it takes only one brilliant president that's sees the potential in adopting Bitcoin for it to be adopted.

Although for now that shouldn't be Nigeria problem because there are still lots of things that need to be solved before Bitcoin being adopted. We can do everything simultaneously but we know how things work in the country therefore, it's better we solve one problem before moving to the rest. The problem in Nigeria is the economy because with a strong economy that has lots of job opportunity, the youths won't be jobless and desperate as we are.

This is no time anymore to hold on to a certificate or degree for survival because if you get to assess the path the economy policies are leading us to you'll get to understand that engaging either in agro-business, learning a trade or skill is now the new way out to fend for oneself without waiting for any whitecolllar job that's coming from nowhere. Thanks to bitcoin, you can always use a percentage of whatever money you make from your skill or business to invest using the DCA strategy which could be helpful in not just making profit for the investor but also serving as a hedge against the devaluing challenge of the naira.

Nigeria happens to be one of the most promising grand for bitcoin and other cryptocurrencies projects, regardless of the current misunderstanding that is coming for me the various government officials and sec who shows a lack of understanding and knowledge about cryptocurrency most especially decentralized cryptocurrency like bitcoin., we should expect a more promising future for bitcoin in Nigeria, and as early adoptors of bitcoin in Nigeria all that I can advice is that, you shouldn't all be w the current crisis in the industry to kill your motivation, because even the government officials that are causing all the crisis in the industry doesn't have the ability to properly understood what bitcoin is all about before jumping into attacking bitcoin.

On the issues of unemployment and the quest for alternatives source of income by Nigeria youths, the fact is that it has become a source for easy money for many of the youths lately, such that they believe bitcoin and cryptocurrency is a way of making easy money, but in the real sense, it is not so, there is need.for hard work and consistency to make any good path in the cryptocurrency industry, but lately many and most Nigerians are now involved in what we call memecoin farming through their telegram apps but at the end they are still far from making the right choices and approach to what bitcoin really is all about.