1 day ago · Bitcoin trade had its highest spike of 30% this year during the national lockdown in the country and the highest volume traded during the peak of the pandemic. Between January and September, Paxful reported a % increase in new registrations in Nigeria. Read more: Nigeria is No.2 bitcoin market after the US on Paxful – Quartz Africa. Dec 18, · Nigeria becomes the 2nd Biggest Bitcoin Market Globally December 18, Grace Chukwuma Bitcoin, Nigeria In the previous five years, Nigeria has marketed 60, Bitcoin, rated at over $ million which, asides the US, is the biggest amount worldwide on Paxful, a prominent peer-to-peer Bitcoin marketplace. Dec 18, · In the last five years, Nigeria has traded 60, bitcoins, valued at more than $ million which, apart from the US, is the largest volume worldwide on .
Nigeria bitcoin marketNigeria is now the world’s second-biggest bitcoin market after the US
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African Business Central journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. Bitcoin: Who wins? Sign up for email updates Email Address: subscribers. Nigerians now have several formal and semiformal bitcoin platforms to use, ranging from international platforms including Paxful, Binance, and Luno, and local ones such as Quidax, Busha, and BuyCoins.
However, long-term watchers say most trading in the country is done on informal channels such as Telegram, WhatsApp, and WeChat. I think this shift was inevitable, and it is not a temporary pandemic boost. While in the past, the value has increased like this only to later drop drastically in a few weeks, some analysts say this increase may continue into as it appears it is due to the growing interest of institutional investors in the cryptocurrency.