Nigerians and the exploration of the crypto space are like five and six, they are not detachable. This thirst for more financial independence is somewhat borne out of the ban placed on crypto activities by the apex centralized bank, i.e central bank of Nigeria in 2021. The wide popularity of crypto in the country started in 2008 following the introduction of Bitcoin. In one way or another Nigerians have explored the crypto ecosystem thus ranking it the sixth leading county in the world of crypto adoption.
Also, despite the ban by the government, Nigerians subscribed took advantage of the decentralized nature of cryptocurrency as against the centralized /local method of transacting in banks. This includes the use of peer to peer trading(p2p) which affords an individual to transact without a third party and a seamless transaction from one wallet to another.
Again, the use of cross-border transaction made financial payments possible amongst people of different nationalities. So, even if the government placed a barrier, other means were explored to carry out transactions.
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Naija... I hail thee
Thus, we can say that activities became more visible on the Blockchain following the ban. Nigerians were not intimidated to let such tremendous opportunity taking place in the metaverse elude them. For various reasons, it has provided job opportunities which covers up for the government's inability to provide jobs for viable citizens,. Financial freedom and making an honest living, passive income. Exploring the bearish situation of the ecosystem to buy and Hodl for profits in the future and so on and so forth. Nigeria have this resilient spirit, thus they can't be broken and they don't give up.
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