Nigeria’s 24.2% Bitcoin Adoption Rate: The Highest Rate of Crypto Ownership Globally

 

Bitcoin Is the Most Popular Coin in Nigeria

In addition to finding the West African nation as the country with the highest proportion of citizens that hold cryptocurrencies globally, the survey also discovered that “of the 1 in 4 online adults in Nigeria who own some form of cryptocurrency, bitcoin is the most popular coin in Nigeria at 66.5% of crypto owners.” Alternatively, this means more than half of the 24.2% of Nigerian respondents that own cryptocurrencies are in fact bitcoin holders.

On the other hand, the survey findings suggest ethereum (ETH) is the second most popular coin with Nigerian cryptocurrency holders, at 23.8%. Despite this seemingly high rate of interest in ETH, the ratio of Nigerians holding this cryptocurrency relative to other countries is still lower, the survey data suggests.

In fact, according to the survey, the 23.8% ETH ownership ratio is only enough to see Nigeria being ranked the 15th country out of a total of 22 countries.

Dogecoin in Third Place

Meanwhile, the survey findings show the meme coin, dogecoin, in third place at 21.8%. This ratio in turn is enough to see Nigeria feature in the top ten. The survey report explains:

Dogecoin is the third most popular choice with crypto adopters in Nigeria, with 21.8% of adults who own crypto holding the coin. This makes it the 8th ranked country in our list of 22 countries in terms of dogecoin ownership among those that own crypto.

In terms of the makeup of cryptocurrency owners in Nigeria, the survey found 62.9% of Nigerian crypto owners to be men while women account for the remainder.

In other words, this disparity between the number of males and females that own crypto means men are 1.7 times more likely to own crypto. With the average figure globally at 1.5, this means Nigeria has the 11th highest male dominance of the 22 countries.

Source

Nigerian Judge Rules in Favour of Accused Crypto Startup, Accounts to Be Reopened

 

A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened.

CBN’s Bank Account Freeze Order Dismissed

In a ruling that overturns the Central Bank of Nigeria (CBN)’s August 17 decision to freeze the bank accounts, Judge Taiwo Taiwo is quoted by The Nation insisting that the central bank could not simply rely on a mere circular when deciding to close an account.

Bitcoin briefly crashed 87% to about $8,000 on Binance's US crypto trading platform

 

• Bitcoin plummeted to $8,200 on Binance's US platform, Coin Telegraph first reported.
• The brief decline in the cryptocurrency was an 87% fall from $65,815.
• Binance's CEO tweeted "expect very high volatility in #crypto over the next few months."

Bitcoin rises above $62,000; RSS calls for crypto regulation

 The crypto market is trading mixed on Monday morning, with Bitcoin trading nearly 2 percent higher at $62,134. The coin has surged nearly 12 percent in the past seven days, having crossed $60,000 last Saturday. The coin is close to an all-time high as investors hoped US regulators would soon approve a futures-based exchange-traded fund (ETF), a move likely to open the path to wider investment in digital assets.

Bitcoin dominance currently sits at 61%. On January 13, 2018, Bitcoin dominance hit an all time low of 35%.

 

What is bitcoin dominance?

Bitcoin dominance is bitcoin's marketcap dividend by the marketcaps of all cryptocurrencies combined. It shows how much value bitcoin has versus the all cryptos combined. This is important because it shows the relative strength of altcoins over time. For most of bitcoin's lifetime (pre-2017), dominance sat at over 98%. Bitcoin was the entire market. But since the first altcoin boom in 2017, it has never come close to that peak again..

Tor-enabled Bitcoin nodes are back after bug on network

 Anonymous Tor-enabled Bitcoin nodes normally make up as much as 25% of totally reachable Bitcoin nodes.

According to the latest data from node monitoring resource Bitnodes, Tor-enabled Bitcoin (BTC) nodes are back to normal following almost a full-swing crash in early January 2021. As of Jan. 13, the number of reachable Tor-based BTC nodes amounted to 2,581, up from as few as 122 nodes on Jan. 9.

How Hackers Nab $16 Million In BTC Through Bitcoin Wallet Exploit

 

A long-time holder was unfortunately taken for their 1,400 BTC – over $16 million worth of Bitcoin – in a wallet exploit. But how were hackers able to make off with this user’s cryptocurrency? And what can others do to avoid the same situation from happening to them?

Crypto Crime Takes A Bow But Is Just As Active Behind The CurtainDue to the lowered frequency and severity of big crypto exchange hacks compared to the past, Bitcoin-related hacks have since cooled off in the media.Phishing attempts, ransomware, and SIM-card hacks are just three examples of crypto-related crime that isn’t widely covered. 

Nigeria Overtakes the USA in Number of Bitcoin Wallets Downloads

 

 In Nigeria, with the lack of U.S. Dollars and its weakening currency (Naira), companies are relying on bitcoin as a means of settling payments for international transactions.
Nigerians are adopting cryptocurrencies as a large number of wallets downloaded for the cryptocurrency.

Comparing Bitcoin to Stocks

 

  Let’s extend this comparison to stocks so that we can better understand the pros and cons of the two asset classes.

classes.

Chart : Analyze this and see the best anti-inflation system in existence

 

Analyze this chart and see the best anti-inflation system in existence. That was the big reason why ₿itcoin was created and launched in 2009 shortly after the 2008 global financial meltdown.

Remember: they are saying that ₿itcoin is worthless, but behind the scenes they are stealthy buying their precious treasure.

Think long term. ₿

Scam Alert: On a flimsy excuse; Paxful Freezing users account with BTC inside

This happened recently on Reddit and the admin  deleted the post made by one of its uesers

 I managed to read the full message but could not screen-grab it before it was removed by the paxful reddit community manager.  Turns out that Paxful has not changed over the years despite collaborating with one of the biggest exchange worldwide, Binance.

Be prepared, the time is near!

Infenite Brrrr! Get ready, the time is near.

Open Letter to Peter Schiff That Claims Bitcoin Has No Intrinsic Value

Peter Schiff is number 1 un-educated person about the meaning of Intrinsic value of Bitcoin. This is why I don't like many uneducated people about BTC.
 

1) Bank Bureaucracy

Many people just don't get it. There was a time you could only send 2 letters per month between you and your parent living abroad. If anyone told your parent that time that one day you would be able to send 40messages per 30 minutes. They would probably think you have gone crazy. That was in the 70s and here we are, I can send 40 messages within 3mins. If the receiver replies, we could have a chat via testing in 5 minutes with over 100 messages.

Halving day in less than 2 weeks

Read more about Bitcoins halving here

Largest Cryptocurrency exchange in India has a daily volume increase of more than 470%

Since India lifted the ban on virtual currency trading, there has been an enormous increase in trading volume and users.
RBI lifted this ban on March 4, until then, entities in India could not provide any services related to virtual currencies, because Act from the Central Bank of 6 April 2018 prohibited these activities.

Public bitcoin fund listed on a major global stock exchange

Tyler Winklevoss: 'The Bitcoin Fund' just launched on the Toronto Stock Exchange. This is the first public bitcoin fund listed on a major global stock exchange. Proud that @Gemini was selected as the custodian for this fund. Congrats to @3iq_corp for making history!

'The Bitcoin Fund' just launched on the Toronto Stock Exchange. This is the first public bitcoin fund listed on a major global stock exchange. Proud that @Gemini was selected as the custodian for this fund. Congrats to @3iq_corp for making history! https://t.co/YtjFqSh6K5

— Tyler Winklevoss (@tylerwinklevoss) April 9, 2020

Localbitcoins (LBC) suspends thousand accounts of 'perceived 3rd world countries' at the heist of '1st world'

BBNB recently shared the news about Localbitcoins mass NG Traders account block.
it turns out other 20 country wallets were also disabled.  Localbitcoins has been many people go to place to sell and buy cryptocurrency for a very long time.  But this article brings a bad news for thousands of users, although its not another Localbitcoins scam this time its a change in policy and it will be explained bellow.

Binance has no offices in China; Your Funds are Safe if I Go Missing, CEO Assures

Zhao reaffirmed that Binance has no offices in China. Since the September 2017 ban on cryptocurrency exchanges in China, after which Binance left the country in October 2017, Binance does not maintain a single office at all. Both Binance’s employees and himself only travelled to China for business meetings and conferences.

Must read: Check out Top 5 Tips for New Bitcoin Investors

Buying Bitcoin (BTC) could be very intimidating if you're only researching its existence now. In reality, taking the plunge and entering the cryptocurrency sphere is really a risk for anybody, with or without investment experience. The reason being the crypto space does not have any centralized authority to steer investors. Rumors, hype and horror stories dominate the net, and separating fact from hearsay could be difficult at times.

Like any business venture, you need to never get the feet wet and soon you have all the important points straight. Many Bitcoin investors who took losses will agree that they did not do their research. Riding on rumors and hearsay is setting yourself up for failure.

However, the cryptocurrency community can be found in handy for inquiries. You're better off conversing with individuals who are already in the crypto space. As a student, you have got resources to discover all there's to understand about Buying Bitcoins in Nigeria or elsewhere. As you discover approaches to invest, don't forget to watch in your academic performance, but when it will start to suffer, online writing services help ensure you maintain above-average performance.

Buy Bitcoins In Nigeria Blog (BBNB) brings you Top 5 Tips for New Bitcoin Investors to looking into before taking the dive.

Continue reading after the page break

Naira (NGN) Trading pair becomes the first FIAT on Binance

Binance listed the 1st ever fiat trading pair, and it's not the US dollar. Beginning today, Nigerian users will have a way to get Bitcoin, Binance Coin (BNB), and Binance's stablecoin BUSD with Naira.

Most top exchanges that offer fiat-to-crypto trading services give attention to the US dollar, or at the very least on the euro or yen. That is as they are probably the most traded currencies, with the USD enjoying the status of a worldwide reserve currency. Nevertheless, Binance went another way with the addition of the national currency of an African country as its first fiat service, reports stated.