• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Nigeria crypto economy is promising 1

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Ethereum price analysis – ETHUSD blasts past $1,200 as the euphoria takes over

    Ethereum price analysis – ETH/USD blasts past $1,200 as the euphoria takes over

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Nigeria crypto economy is promising 2

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Ethereum price analysis – ETHUSD blasts past $1,200 as the euphoria takes over

    Ethereum price analysis – ETH/USD blasts past $1,200 as the euphoria takes over

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home OP-ED

Nigeria crypto economy is promising

Camomile Shumba by Camomile Shumba
December 3, 2020
in OP-ED, Industry News
3 min read
Nigeria
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

When Bitcoin (BTC) funded the Nigeria Special Anti Robbery Squad (SAR) protests, that event shed light on the fact that the crypto industry had room to grow in Nigeria. The Feminist Coalition, the leading group of the SAR protests accepting donations, found that 40% of BTC funded their protests.

The cryptocurrency raised $387,000. Thanks to government corruption, funds were not able to be received. The EndSARs protests were fighting against police brutality from the Special Anti Robbery Squad, who likely had the Government support.

Cryptocurrencies’ ability to conceal identities and run as a peer to peer system protects it from Government corruption and protects its users. Before the charitable event, the primary use cryptocurrency had in Nigeria was for fraudulent activities.

RelatedPosts

Crypto market cap reaches ATH: crosses $1 Trillion

Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

Crypto mining: Iran shuts down over 1600 mining farms

Tetragon join SEC in court action against Ripple

Chainalysis data shows that from June 2020, there was 8-million dollars worth of crypto sent to fraudulent accounts. There is hope that Nigeria’s crypto-economy could take a turn for the better. More people see that there are benefits to crypto that do not involve illegal acts.

Among African countries, Nigeria has been ranked number one in terms of the number of people using cryptocurrencies. In Nigeria, $139 million transactions occurred in 2020 alone.

Nigeria is number 8 in the 2019 -2020 index that measures crypto use of the whole world.

Abolaji Odunji’s story

aerial photography of houses and buildings on green field viewing mountain under white and blue sky

Reuters reported how Abolaji Odunji, who sources handsets and accessories from the United Arab Emirates and China pays his suppliers in Bitcoin in the middle of this year.

These suppliers requested that Mr. Odunji be paid in crypto because it was more efficient for them. Mr. Odunji has found that he gets to save more profits since he does not have to buy dollars through selling the naira.

Making the shift to crypto helped Mr. Odunji increase his profile dramatically. He explained that going crypto protected his business from the currency devaluing. There are many small businesses in Nigeria that are opting to go crypto.

Ahmed Rasheed story

aerial photo of house surrounded with trees

Coindesk shared the story of Ahmed Rasheed, who in 2018 opened his Bitcoin wallet for his daughter, who was yet to be born. In 2019 he managed to gather $720, which amounted to six months of salary for him.

Mr. Rasheed gathered the crypto through airdrops. Airdrops are projects which allow you to have a free wallet as part of their marketing strategy. Mr. Rasheed was able to buy a laptop with the money he had gathered and then opened a wallet for his wife and eldest daughter.

Now he markets a blockchain firm, and his wife works for a blockchain project. To pay his daughter’s school fees, Mr. Rasheed changes his crypto savings to naira.

Paxful

low angle photo of city high rise buildings during daytime

There is a national change occurring in regards to the way that crypto is received. Crypto is becoming a way of life for many in Nigeria.

Paxful, a Bitcoin exchange from September 2020 alone, gained 137% more than last year. Paxful now has 600,000 Nigerian users.

Crypto is becoming a way for Africans to make life more convenient and cost-effective through crypto. The narrative around digital currencies has changed from one that would cause law enforcement to be cautious to one that sounds encouraging.

Tags: Nigeria
Camomile Shumba

Camomile Shumba

I am a freelance journalist that is always learning and investigating. I explore how current issues affect you. My training in journalism has enabled me to write thorough and compelling content.

Related Posts

Crypto market cap
Industry News

Crypto market cap reaches ATH: crosses $1 Trillion

January 7, 2021
Nigeria crypto economy is promising 3
Industry News

Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

January 7, 2021
Crypto mining
Industry News

Crypto mining: Iran shuts down over 1600 mining farms

January 6, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

Cardano price prediction_ ADA to retest $0.35, analyst

Cardano price prediction: ADA to retest $0.35, analyst

January 7, 2021
Crypto market cap

Crypto market cap reaches ATH: crosses $1 Trillion

January 7, 2021
Litecoin price prediction_ LTC to $180, analyst

Litecoin price prediction: LTC to $180, analyst

January 7, 2021
Ripple price prediction: Rise to $0.45 ahead, analyst

Ripple price prediction: Rise to $0.45 ahead, analyst

January 7, 2021
Bitcoin price prediction: BTC to $43,000, analyst

Bitcoin price prediction: BTC to $43,000, analyst

January 7, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 4

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2020 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.