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Nigerian youths' Bitcoin usage spikes as naira flags against dollar amidst worsening daily economic crisis


When Nigerian office worker Chigoziri Okeke bought cryptocurrency for the first time in 2016, he was only looking to make an online payment.
But the 10% gain on his wallet’s balance after a few days fired up the 27-year-old’s interest. Now, the Lagos resident holds more than $50 000 in. cryptocurrencies.
“After my initial purchase, bitcoin’s price spiked a little bit to about $400 to $500 per unit,” Okeke told AFP. “People told me it cost a dollar at some point. So, that motivated me to start investing a certain portion of my salary in cryptocurrency.”
Okeke’s experience reflects the reality of many Nigerians, who are playing a key role in the global hunt for bitcoin and other cryptocurrencies in the face of the economic crisis bedevilling the country. ....

United States , Akudo Okoro , Andrew Nevin , Chigoziri Okeke , Charlie Robertson , Adekunle Ahmed , Olusola Amusan , International Monetary Fund , Central Bank , University Of Lagos , ஒன்றுபட்டது மாநிலங்களில் , ஆண்ட்ரூ நெவின் , சார்லி ராபர்ட்சன் , சர்வதேச பண நிதி , மைய வங்கி , பல்கலைக்கழகம் ஆஃப் லாகோஸ் ,

Bitcoin booms in Nigeria as naira flags - The Mail & Guardian


Bitcoin booms in Nigeria as naira flags
1 Apr 2021
Trading fortunes: Exchange rates displayed in Lagos. The naira was devalued twice last year. Photo: Tom Saater/Bloomberg/Getty Images
When Nigerian office worker Chigoziri Okeke bought cryptocurrency for the first time in 2016, he was only looking to make an online payment. But the 10% gain on his wallet’s balance after a few days fired up the 27-year-old’s interest. Now, the Lagos resident holds more than $50 000 in cryptocurrencies. 
“After my initial purchase, bitcoin’s price spiked a little bit to about $400 to $500 per unit,” Okeke told AFP. “People told me it cost a dollar at some point. So, that motivated me to start investing a certain portion of my salary in cryptocurrency.” ....

United States , Akudo Okoro , Andrew Nevin , Chigoziri Okeke , Charlie Robertson , Adekunle Ahmed , Olusola Amusan , International Monetary Fund , Central Bank , University Of Lagos , ஒன்றுபட்டது மாநிலங்களில் , ஆண்ட்ரூ நெவின் , சார்லி ராபர்ட்சன் , சர்வதேச பண நிதி , மைய வங்கி , பல்கலைக்கழகம் ஆஃப் லாகோஸ் ,