Cryptocurrencies are yet to be recognised as a legal tender in Nigeria. However, the buying and selling of cryptos are on the rise in the country.
In the 2nd quarter of 2020, Nigeria had the largest share of Bitcoin transactions. According to Usefultulips, Nigerians transacted $34.4 million worth of Bitcoin, which is currently the most popular cryptocurrency in the world; South Africa had $15.2 million. Kenya followed with 7.8 million, $640k for Ghana, and Tanzania at $600k.
Hence, it is not surprising that there are a handful of cryptocurrency startups in the country serving as platforms for trading in bitcoin and other types of cryptocurrencies. Here are some of them…
