Nigerian Citizens Have Started Using Cryptocurrencies as a Solution for Storing and Transferring Assets

KuCoin recently released a report showing that many Nigerian citizens have started using cryptocurrencies as a solution to store and transfer assets. According to the report, 35% of the Nigerian population between the ages of 18 and 60 (33.4 million people) have owned or traded cryptocurrencies in the last six months. Of that population, 52 percent (nearly 17.36 million people) have allocated more than half of their assets to cryptocurrencies. KuCoin said P2P trading is the most common method for Nigerian investors to convert fiat currency into crypto assets. In addition, approximately 23.38 million Nigerians (70% of existing crypto investors) will increase their cryptocurrency investments in the next six months.