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The rising Crypto adoption in Nigeria

The nation Nigeria has continued to trailblaze the crypto space in Africa, such that with a population of over 200 million people it remains one of Africa's most vibrant and resourceful countries in the blockchain and crypto space.

by James Enajite
November 18, 2022
in Global, Opinions
Reading Time: 4 mins read
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Nigeria is a country with over 60% of the total population being youths with a majority having a mindset to attain their full potential. 

Consequently, this has opened up the entrepreneurial dimension of the people in the various sectors of the economy from health, sports, entertainment, business, education, social events and lifestyle.

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What is the perception of non-crypto enthusiasts?

Africa as a continent has had its fair share of FUD being propagated around the continent with their government machinery implementing policies to stifle the spread of knowledge amongst its people and perpetually holding the people in financial bondage. 

This has proven to be impossible as the blockchain and cryptocurrencies in particular has demonstrated a similarity with the use of the internet as these are not controlled by any government because it is an open-source algorithm which is decentralized in nature.

However, the government and the instrumentality of the financial institutions are resilient to limit and keep the people of Nigeria in chains of financial freedom. 

This is evident from the several circulars by the Apex banking institution (central bank) directive on the use and trading of cryptocurrencies through the commercial banks in the past.

It became obvious that this did not dampen the zeal of the youths and other small businesses as they sought out alternatives for the funding of crypto purchases and sales transactions with the use of P2P features which is the original purpose for what crypto currencies were created. 

This eventually led to a massive increase in P2P transactions, thereby making Nigeria one of the highest traders of bitcoin at that point in time.  

There is a very high level of awareness being propagated by tech hubs and other crypto meetings held on a regular basis to educate the masses on the need to start understanding and using the crypto currencies to their advantage. 

This obviously has led to a continuous rise in the awareness of blockchain and cryptocurrency in the entire length and breadth of the nation Nigeria.

The same consciousness has also led the people to have started to hedge their funds in crypto currencies as a result of the devaluation of the country’s fiat currency the naira against the US dollar. 

This is a result of poor economic policies which have affected the naira and has led to a continuous fall of the value.

Klever is making waves in Nigeria.

There are several blockchain and cryptocurrency companies making great strides to ensure the advocacy of the blockchain technology and associated cryptocurrencies have more penetration into the Nigerian market.

The Klever team is not an exception as the love for the nation has grown enormously with Nigeria having the 3rd largest user base of the Klever wallet and active participation. 

This has translated to a massive followership of the Klever project on all their social media platforms. 

The Klever wallet has been ascribed by Nigerians as the best thing to ever happen to them in the crypto space, as it brought about the opportunity for millions of Nigerians to come in contact with crypto currencies for the first time in their lives. 

These include the educational content and information that is being shared on the various social media platforms by passionate young and talented Nigerians especially to those who are less fortunate to have the knowledge of crypto beforehand. 

Klever’s intentional sponsorship.

Klever is a keen supporter of young entrepreneurs and in a recent event held in one of the Niger Delta states, we created some awareness on the need for crypto inclusion in how businesses can be managed with the use of crypto wallets like the Klever Wallet.

We are only in the process of expanding the same activities all over the country and creating as much educational awareness to the people as possible in a Klever way.

We look forward to how this will impact the economy and life of the people in the coming days. 

The Klever team is also willing to educate the people of Nigeria more through our various social media platforms with educational materials for a rapid transformation of the people and their businesses by the use of the Klever wallet from the comfort of their mobile devices.

There are numerous educational materials uploaded on our YouTube channel for everyone to take advantage of to improve their knowledge of the crypto space and the entire Klever ecosystem.

It is indeed a Klever thing to do.

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James Enajite

James Enajite

A passionate lover of crypto and mankind with an active mind to create content to educate everyone within my sphere of influence. An entrepreneur with an open heart to accommodate young aspiring individuals to achieve their best in a global space.

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