Politics
Report Shows 20% Of Nigerians Depend On Bitcoin for Everyday Payments
Report Shows 20% Of Nigerians Depend On Bitcoin for Everyday Payments....KINDLY READ THE FULL STORY HERE▶
According to a recent report, one-fifth of Nigerians are utilizing Bitcoin for their daily financial transactions.
The findings stem from a study conducted by Elastos, an open-source blockchain platform, which surveyed 1,407 self-identified ‘tech-savvy’ individuals across several countries, including Brazil, Germany, Nigeria, South Korea, UAE, the UK, and the US.
The research, facilitated by a registered market research company, spanned from March 30 to April 4, 2024. Results indicated a significant level of trust in Bitcoin among Nigerians, with 67% expressing more confidence in the cryptocurrency to safeguard their life savings compared to traditional banks and local governments.The BIT Index (Bitcoin; Innovation & Trust), compiled from the survey data, provides insights into the real-world utilization of Bitcoin and users’ perceptions across different markets.
Particularly noteworthy is Nigeria’s pronounced usage and trust in Bitcoin, contrasting with established markets like Germany and the UK, where daily usage levels stand at just 8% and 9%, respectively.
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