Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims – Africa Bitcoin News
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Nigerian crypto users and enthusiasts have dismissed claims that Bitcoin (BTC) is trading at a 100% premium in the country.
The reports of the 100% premium, which were primarily circulated on social media, have been found to be false.
The claims suggested that Bitcoin was trading at a 100% premium in Nigeria, meaning that the price of BTC was twice as high as the global market rate.
However, the reports have been debunked by Nigerian crypto users and enthusiasts, who have pointed out that the premium is only around 15%, which is still higher than the global average.
The Nigerian crypto community has attributed the premium to the country’s high demand for Bitcoin, which is driven by the growing number of users and investors in the country.
Nigeria is one of the leading countries in Africa when it comes to cryptocurrency adoption and usage. According to recent reports, the country accounts for around 8% of the global Bitcoin trading volume.
The premium is also attributed to the fact that the country’s fiat currency, the Nigerian Naira, is prone to devaluation. This has prompted many Nigerians to turn to Bitcoin as a store of value and hedge against inflation.
Despite the premium, Nigerian crypto users and enthusiasts have welcomed the growth of the industry in the country. They believe that the increased adoption and usage of cryptocurrencies will benefit the country in the long run.
The Nigerian crypto community is also working to educate the public about the benefits of cryptocurrencies and blockchain technology. They are also working to ensure that the industry is regulated in a way that will benefit both users and investors.
Overall, the Nigerian crypto community has dismissed the claims of a 100% premium in the country. They have pointed out that the premium is only around 15%, which is still higher than the global average. They are also working to ensure that the industry is regulated in a way that is beneficial to everyone.
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