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

Crypto trading thrives in Nigeria despite official disapproval

 

LAGOS, Oct 12 (Reuters) - Nigerian art dealer Ebuka Joseph started using cryptocurrencies last year when business ground to a halt due to COVID-19. Now he is hooked even though the financial authorities disapprove.

“Crypto just allows me to transact freely and within minutes we are done with our transactions,” the 28-year-old told Reuters from a friend’s studio in Lagos where he displays his works.

Crypto Funds Doubled Inflows Last Week, Bitcoin Leads the Pack

 

BeInCrypto –

Digital asset management firm CoinShares has released its weekly report on fund flows for the crypto market. The highlight of the report, published on Oct 11, is that the amount of new capital flowing in has doubled in the past week.

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.

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

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.

Almost ₦3.24 Trillion ($9 Billion) Worth of Bitcoin Moved On-Chain in 1 Hour: Record

On Dec. 4, $8.9 billion in Bitcoin (BTC) were shifted the blockchain in one single hour, excluding change volume, that will be Bitcoin that returns to the sender.

Bitcoin's high transaction volume was stated by Rafael Schultze-Kraft, the co-founder of on-chain market intelligence firm Glassnode. In a tweet on Dec. 4, he claimed that this kind of high hourly transaction value was an initial for the network:


“It's the highest hourly USD transaction volume in Bitcoin's history.”

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.

Bitcoin Halving?

What's the Bitcoin Halving?
New Bitcoins are issued by the Bitcoin network every 10 minutes. For the very first four years of Bitcoin's existence, the quantity of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half. The day that the quantity halves is known as a "halving ".

In 2012, the quantity of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. Now, in the 2020 halving, it'll drop from 12.5 to 6.25.

Las Vegas Bitcoiner, Morgan Rockcoons sentenced to Jail for selling BTC on Localbitcoins.com

Morgan Rockcoons, a Nevadan man accused of wire fraud and operating an unlicensed Bitcoin exchange for using LocalBitcoins, was sentenced to nearly 2 yrs in prison. Based on a government press release, Rockcoons will also need to forfeit $80,600 in illicit profits.

Operating unlicensed Bitcoin exchange results in a 2-year prison sentence
Morgan Rockcoons, who also passes Morgan Rockwell, was sentenced to 21 months in prison by U.S. District Judge Anthony J. Battaglia for wire fraud and operating an unlicensed money transmitting business.

Crypto Markets Are Trading Sideways, Bitcoin Holds $3,900 Support

Tuesday, March 12 — crypto markets are trading sideways, with total market cap hovering between $133–$134 billion, and Bitcoin (BTC) holding $3,900 for the most part of the day.

The top 20 cryptocurrencies by market cap are seeing mixed signals, with losses not exceeding 1.1 percent, while some coins have seen a growth of over 3 percent over 24 hours at press time.

Price of BTC drop and forcast !

*What really influenced the drop in the price of Bitcoin from its all-time high to where it is at now, and do you think it will get back to $20,000 or even higher?*

The drop in Bitcoin was due to those 4 reason:

Bitcoins Clock 10 -Ten Years Since Satoshi’s Vision Was Brought to Life

The evolution of key industries have been historically driven by groundbreaking technological innovations that leave an indelible mark on society.

The printing press led to the scientific revolution, the discovery of electricity brought light to the world, radio waves changed the way information was delivered to the masses, and the internet completely overhauled the way we communicate and interact with information.

Malta's Prime Minister Tells UN That Crypto Is the 'Inevitable Future of Money'

The Prime Minister of Malta, Joseph Muscat, has said that cryptocurrencies are the “inevitable future of money,” and that blockchain can galvanize a more transparent and equitable society. The Prime Minister made his remarks in a speech addressed to the general debate of the 73rd Session of the General Assembly of the U.N. September 27.

US SEC Commissioner Dissents From Agency’s Rejection of Winklevoss Bitcoin ETF

U.S. Securities and Exchange (SEC) Commissioner Hester M. Peirce has published a statement of official dissent from the agency’s second disapproval of the Winklevoss brothers’ application for a Bitcoin (BTC) exchange-traded fund (ETF) yesterday, July 26.

The Winklevoss’ Bats BZX Exchange, Inc. (BZX) had filed a proposed rule change with the SEC in June 2016 to allow it to list and trade shares of a Bitcoin ETF called the Winklevoss Bitcoin Trust, which was rejected by the agency in March 2017. Following the disapproval of the initial proposition, the group filed a petition seeking “review of the disapproval by delegated authority, which the SEC formally rejected Thursday, July 26.

IMPORTANT - BTC Bull run might happen if Bitcoin ETF is approved

And its simply because more people have easier access to investing in cryptocurrency. You do not need to buy one to invest in one anymore, you can just buy its index. There is a rumor Bitcoin ETF will be approved by the SEC in the near future. In addition, SEC is currently accepting comments on the ETF application.

Two important must read sources:




https://www.sec.gov/comments/sr-cboebzx-2018-040/cboebzx2018040.htm

https://bitcoinist.com/3-reasons-sec-bitcoin-etf-next-month/

Back Above ₦2,160,000 ($6K): Bitcoin's Bull Reversal Is a Work in Progress

Bitcoin (BTC) has regained poise over the weekend after a drop below ₦2,160,000  ($6,000) last week, but a short-term bullish reversal is still not confirmed.
At press time, the leading cryptocurrency is trading at $6,320 on Bitfinex – up 13 percent from the seven-month low of $5,755 hit on June 24.

BTC was expected to remain on the defensive and drop to fresh 2018 lows below $5,755 over the weekend, having closed below $6,000 (February low) on Thursday.

Happy New Month

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