Ask Leo : Nigeria as the largest user and cryptocurrency owner in the world what impact will this have on Nigeria economy?

almost 3 years ago

Cryptocurrency has been the latest digital currency 💵 investment that is adding value to people's lives cryptocurrency has been a game changer since it's adoption many Investors has become multimillionaire through this Investment.
Cryptocurrency has created employment opportunities for many youths and most importantly it has become an eye opener to many who have been enslaved by the corrupted government and politicians through the centralized system with the fiat money cryptocurrency with the help of its driver the Blockchain technology has guarantee every individuals that venture into cryptocurrency investment to be rest assured of their safety and personal information or data remain safe their is room for freedom and decentralized in cryptocurrency what a lovely avenue to experience freedom from government and financial institutions slavery
As it has been mentioned earlier that Nigeria is in the Leed of cryptocurrency Investors and yet cryptocurrency has not yet been legalized by the government. Sometimes last year 2022 a restriction was laid on cryptocurrency Investors and cryptocurrency activities were suspended by the government and since then cryptocurrency as become illegal to the financial institutions in Nigeria but yet the youth still find a way to go about their cryptocurrency activities through the peer to peer trading,
Cryptocurrency will have a great impact in the Nigeria economy because it will create opportunities for Nigeria in the international market and we can trade without having the same currency 💲💵 with the other countries
It will also create transaction freedom individuals will be in charge of his or her transaction no involvement of any central body or extra charges on your transaction
Also through the help of the Blockchain technology every transaction is secured so security is is not a problem with the help of Blockchain technology,
Also through the Blockchain technology every transaction is transparent and no secret
Another aspect is the speed at which transaction is been done within a tickle of an eye your transaction is completed to any part of the country ,
With all this if Nigeria can adopt cryptocurrency it will help in fasting up the development of the country and also as we all no that the world is becoming digital the digital currency will definitely add up to the economic growth and stability
According to Trading Browser has revealed that Nigeria has the largest number of users and owners of cryptocurrencies in the world.
Source
The study ranks countries based on the percentage of the population that reported that they used or owned cryptocurrency each year from 2019 to 2023
According to the report, Nigeria tops the list with 45% of the population using or owning cryptocurrency in 2022. The country boasts over 90 million people using cryptocurrency, which is almost 1.5 times the population of the United Kingdom.

Source
From 2019 to 2023, Nigeria saw a 17% total increase in ownership and use from 28% to 45%, equating to over 34 million people adopting cryptocurrency over the three years