TechFlow news, as many as 47% of Nigerians are actively involved in cryptocurrency trading. From 2020 to 2023, cryptocurrency ownership in Nigeria increased by 15%. The Nigerian currency's accelerated depreciation in the second half of 2023, along with rising inflation, has driven residents toward digital assets such as Bitcoin (BTC) and USDT.
Commenting on the research findings, Max Coupland said: "These data reflect a significant departure from viewing digital assets merely as speculative investments, indicating a broader shift in how individuals perceive and integrate cryptocurrencies into their financial lives."
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