Twitter CEO Jack Dorsey posted that Nigeria is one of the world’s largest users of cryptocurrencies.

We are talking about the percentage of the country’s residents who are actively using digital finance to the total number of citizens.

In Nigeria, that percentage is 32%!

They use it in shopping, making les paris sportifs au Senegal on popular sports, investing and mining.

Where Is Bitcoin Popular?

According to the analytics platform Statista, Nigeria does rank first among countries whose residents use bitcoin.

In second place are residents of Vietnam (21%), followed by the Philippines with 20%.

Also on the list of countries where Bitcoin (BTC) is popular are Turkey, Peru, Switzerland, India, China, the United States, Germany, and Japan.

Perhaps Nigeria’s leadership is due to the fact that the country’s authorities — for example, Nigeria’s Vice President Yemi Osinbajo — have repeatedly stated their support for cryptocurrency.

Why Is Bitcoin Popular in Nigeria?

In his tweet about bitcoin being popular in Nigeria, Jack Dorsey mentioned writer Samantha Messing.

She published an open letter titled “Why Progressives Should Love Bitcoin.”

In this letter, it was noted that any Nigerians’ interest in cryptocurrencies is primarily due to the deplorable state of the country’s financial industry and the peculiarities of the local population.

“Nigeria’s population is one of the youngest in the world,” the letter’s author notes, suggesting that it is youth and flexibility that allows Nigerians to be as progressive as possible in order to appreciate the new opportunities that Bitcoin gives them.

Samantha Messing evidently wants as many people as possible to learn about Bitcoin, so she tries to popularize digital gold in every possible way.

In her letter, the author even published several links to educational programs concerning Bitcoin, because she wants people to really understand it.

As the Nigerian naira falls in value, bitcoin is becoming a real lifesaver for the population.

The figure of 32% of the country’s population owning bitcoins is, indeed, the highest percentage in the world.

The popularity of cryptocurrencies in Nigeria is also confirmed by other data, such as the fact that in 2020, remittances to Nigeria exceeded $17 billion and a significant portion of that amount was transferred in cryptocurrency.

Bitcoin Is Growing in Popularity in Nigeria, in Spite of the Negative Attitude of the Authorities

Bitcoin and other cryptocurrencies are growing in popularity in the country despite the CBN’s unfavorable attitude toward crypto assets, according to a report from the Bankers Institute of Nigeria (CIBN).

“The Central Bank of Nigeria (CBN) has stated that digital currencies are not legal tender in the country and only the Nigerian naira has this status.

There are concerns about the popularization of digital currencies, which are currently changing the global payment ecosystem.”

The Nigerian Senate has also previously tried to wrap public opinion against bitcoin, and the Nigerian Deposit Insurance Corporation warned of the risks of cryptocurrencies this summer.

However, according to a recent Financial Times report, the country’s economic situation continues to deteriorate, so Nigerian citizens are favoring digital currencies, albeit unregulated, but ensuring financial freedom.

In addition, Twitter CEO and cryptocurrency enthusiast Jack Dorsey recently said that Africa will determine the future of the cryptocurrency industry.

After his tour of Nigeria and Ghana, he noted that the African continent is developing rapidly but is still very poor, and this will be one of the main reasons for the adoption of bitcoin and other cryptocurrencies.

In June, it was reported that the number of searches on Google about bitcoin had increased again.

In terms of the geographical distribution of searches, bitcoin was most popular in Nigeria, South Africa, Austria, Switzerland, and Ghana.