Getting online to perform some business transaction is certainly not new to a lot of tech savvy Nigerians.
However, the high rate of cyber crimes in the country has made anything pertaining to the web to be viewed with suspicion.
The police can arrest anyone for owning a laptop with software applications they do not understand and for working from home.
Even Paypal long ago decided to have nothing to do with Nigeria.
Heck, even family members suspect you for staying online too long on sites with lots of numbers and graphs.
The belief that the internet is the source for tomorrow's wealth still holds true for many in Nigeria so when the ponzi scheme MMM came into the country, a lot of people dove into it.
The support for it was massive with people from all works of life participating. Its eventual collapse was the final straw for most people: any online business was unsustainable and therefore a scam.
The ponzi scheme had one benefit to a lot of fast-thinking Nigerians though. It introduced Bitcoin and Crytocurrencies to them.
The MMM United ponzi scheme was participated in with Bitcoin as the currency of choice. When the ponzi scheme crashed, a lot of guys continued trading Bitcoin and today have become millionaires in their own right.
The number of Nigerians and indeed Africans who currently know and understand Blockchain and Cryptocurrency is very low.
Although it is also not fully accepted around the world, a lot of Europeans, Asians and Americans have readily embraced it as a preferred medium of exchange and investment vehicle while only a few people have even heard of it in Africa.
Hopefully, Nigerians, and Africans in general, will quickly understand the importance of Bitcoin and Cryptos/Altcoins so as to partake in the benefits its early users obtain.