Nigeria’s Crypto Adoption Endures, Defying Skeptics
Following Nigeria’s slip from second to sixth place in the 2025 Chainalysis Global Crypto Adoption Index, some observers declared the nation’s crypto momentum a facade. They questioned how a country grappling with 30% inflation, widespread poverty, a struggling currency, and internet limitations could maintain high adoption rates.
Crypto as a Lifeline for Nigerians
However, Emmanuel Onuoha, a blockchain builder, founder of OpenWaver and Web3 Nigeria, and a prominent Web3 advocate, disagrees with the critics. He believes the narrative surrounding Nigeria’s crypto adoption goes beyond simple rankings. According to Onuoha, the true significance of cryptocurrency in Nigeria lies in its role as a critical tool for survival. “Crypto here is not hype,” he insists, “It’s survival.” This perspective highlights the resourcefulness of millions of Nigerians who have integrated digital assets into their daily lives. Onuoha’s own experiences reflect this trend, as he pivoted to crypto after COVID-19 lockdowns damaged his offline businesses.
Conclusion
The enduring embrace of cryptocurrency in Nigeria is a testament to the nation’s adaptability. It highlights how the Nigerian population is adapting cryptocurrency for their own individual needs despite several challenges.
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