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High Inflation and Currency Woes Fuel Nigerian Interest in Crypto
According to the latest Africa crypto report, Nigeria had “the highest level of crypto interest” on the continent with a share of 66.8%. The West African nation’s share of the continent’s crypto interest is nearly 8 times that of the next highest-ranked country South Africa.
The data in the Coingecko report is the latest to reaffirm Nigeria’s status as Africa’s number crypto nation both in terms of user curiosity and traded volumes. According to the report, poor traditional finance infrastructure, high inflation, and currency depreciation are some of the factors which explain Nigerian residents’ unparalleled fondness for crypto.
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