Who is the richest bitcoin trader in Nigeria?

Gaius Chibueze
Gaius Chibueze (born 3 March 1988) is an African businessman and entrepreneur. He is one of Africa’s most influential pioneers in cryptocurrency trading particularly Bitcoin. He is popularly known as Bitcoin Chief….

Gaius Chibueze
Spouse(s)	Oluchi Augusta Chibueze ​ ​ ( m. 2016)​
Children	2

Can Nigeria Trade bitcoin?

Seven months after Nigerian banks were barred from enabling cryptocurrency transactions, bitcoin remains an actively traded asset in the country, partly due to the presence of platforms that enable peer-to-peer transfers.

What country trades bitcoin the most?

United States
According to Statista, United States has the most Bitcoin trading volume on exchanges followed by Russia, Nigeria, EU, and China.

How does Bitcoin work in Nigeria?

How to invest in Bitcoin in Nigeria. All you need to do is Create an Account, Deposit Naira into your Wallet and then Buy Bitcoin. Note: Due to CBN regulations, deposit via debit card is no temporary suspended, you can deposit and withdraw via P2P section of Binance, it is easy and fast.

Why is Nigeria banning Cryptocurrency?

The CBN claimed that cryptocurrencies are created by unregulated and unregistered companies, and hence usage in Nigeria violated existing laws since they are not legal money.

When was Tatcoin created?

2009
Bitcoin was created in 2009 on the heels of the economic recession. Bitcoin was created to be an electronic peer-to-peer cash system, but has also attracted crypto-curious investors as a store-of-value currency, comparable to gold.

Why are more Nigerians investing in cryptocurrency than ever before?

More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects.

Why is bitcoin rising in popularity in Nigeria?

Ms Nwachukwu says this resulted in a wave of new sign ups and an increase in transactions. At the heart of the rise of Bitcoin is a distrust of centralised financial systems and top-down economic control, investors say. Many express their frustrations with government policy and the decline of the Nigerian economy.

How big is Nigeria’s trading volume?

Estimates show that of the top 10 countries for trading volumes, Nigeria ranked third place after the US and Russia in 2020, generating more than $400m worth of transactions.

Why do people invest in the Nigerian naira?

Despite the currency’s volatility, Mr Ugwu sees it as a valuable tool to “hedge” or reduce the risk of living in what he describes as a high-risk environment. His wife Onyeka started to invest when faced with high commission charges to transfer cash between her Nigerian and British accounts.