Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Nigeria leads Africa in Bitcoin P2P

Olumide Adesina by Olumide Adesina
December 2, 2020
in Cryptos
Nigeria leads Africa in Bitcoin P2P lending
Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s increased use of  Bitcoin has become the norm in the crypto-verse, taking into account that in the past 8 months, it leads the whole of Africa combined, in the transactional value of P2P payments.

Still, what seems astonishing to many crypto experts is the amount Nigerians transact with Bitcoins  P2P monthly, amid the prevailing recession biting hard on Africa’s biggest economy when compared to other African countries.

Data retrieved from Usefultulips, a BTC analytic data provider, reveals a significant amount of Nigerians use Bitcoin for peer-to-peer transactions for their payments.

RelatedPosts

This is Bitcoin’s worst quarter in 11 years

Despite Reports, El Salvador Doubles Down on Bitcoin Bet to the Tune of $1.5 Million

READ: Top 5 peer-to-peer exchanges to buy Bitcoin

Recent statistics show Nigeria leads Africa P2P in 2020, posting monthly P2P volumes of between $25.8 million, followed by South Africa and Kenya respectively posting about $8.2 million and $7.7 million monthly.

What you must know: Bitcoin, peer to peer is the exchange of Bitcoin between parties (such as individuals) without the involvement of a central authority. This means that peer-to-peer use of Bitcoin takes a decentralized approach in the exchange of Bitcoins between individuals and groups.

READ: Crypto robber sends out over $5 million worth of stolen Bitcoins

A spokesperson for Binance in Africa, Damilola Odufuwa in an exclusive interview with Nairametrics gave key insights on the role the world’s biggest crypto exchange, Binance is having on Africa, particularly, the Nigerian economy;

“Over the past year, over 40,000 Africans have received free crypto education via Binance education programs/events. Our last virtual masterclass had over 5000 attendees and thousands more watching on YouTube. A huge population of the attendees is definitely Nigerians who are looking to acquire skills they can use to make some extra money while underemployed at their “9-5” and also for the many who didn’t receive a salary from their employers or lost jobs over the year,” Odufuwa said.

READ: Nigeria leads Africa combined in Q2 2020 on BTC P2P

Odufuwa also spoke on the need for more Nigerians to acquire skills around the crypto value chain, taking into consideration that it is now the modern lifeline of finance and business operations globally.

“The crypto industry is still a growing industry, so educating oneself about crypto and applying the skills you already have to jobs in the crypto industry could help some of the unemployed,” she added.

Bottom line: A significant amount of young Nigerians are acquiring skills on Crypto to sustain and drive their income and livelihood, as it offers the safest, cheapest processes of moving capital in relation to other traditional means of payments.

Related

Tags: BinanceBitcoincryptoDamilola OdufuwaKenyaNigeriaSouth Africa

Comments 2

  1. Adamu says:
    December 3, 2020 at 12:12 pm

    Hi I want join

    Reply
  2. Joserh Stalin says:
    December 12, 2020 at 6:44 pm

    it’s not a good idea to invest in bitcoin. I invest in decentralized currencies like Сrypton from the utopia ecosystem

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • This is Bitcoin’s worst quarter in 11 years
    • Despite Reports, El Salvador Doubles Down on Bitcoin Bet to the Tune of $1.5 Million
    • US government places $100,000 bounty on “cryptoqueen”, Ruja Ignatova, for $4 billion crypto scam

    Follow us on social media:

    Recent News

    Bitcoin falls against Russia-Ukraine war

    This is Bitcoin’s worst quarter in 11 years

    July 1, 2022
    Bitcoin takes off as El Salvador adopts it as legal tender

    Despite Reports, El Salvador Doubles Down on Bitcoin Bet to the Tune of $1.5 Million

    July 1, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com