link4557 link4558 link4559 link4560 link4561 link4562 link4563 link4564 link4565 link4566 link4567 link4568 link4569 link4570 link4571 link4572 link4573 link4574 link4575 link4576 link4577 link4578 link4579 link4580 link4581 link4582 link4583 link4584 link4585 link4586 link4587 link4588 link4589 link4590 link4591 link4592 link4593 link4594 link4595 link4596 link4597 link4598 link4599 link4600 link4601 link4602 link4603 link4604 link4605 link4606 link4607 link4608 link4609 link4610 link4611 link4612 link4613 link4614 link4615 link4616 link4617 link4618 link4619 link4620 link4621 link4622 link4623 link4624 link4625 link4626 link4627 link4628 link4629 link4630 link4631 link4632 link4633 link4634 link4635 link4636 link4637 link4638 link4639 link4640 link4641 link4642 link4643 link4644 link4645 link4646 link4647 link4648 link4649 link4650 link4651 link4652 link4653 link4654 link4655 link4656 link4657 link4658 link4659 link4660 link4661 link4662 link4663 link4664 link4665 link4666 link4667 link4668 link4669 link4670 link4671 link4672 link4673 link4674 link4675 link4676 link4677 link4678 link4679 link4680 link4681 link4682 link4683 link4684 link4685 link4686 link4687 link4688 link4689 link4690 link4691 link4692 link4693 link4694 link4695 link4696 link4697 link4698 link4699 link4700 link4701 link4702 link4703

Majority of Nigerians Have Faith in Bitcoin

majority of Nigerians have faith in bitcoin

Majority of Nigerians Have Faith in Bitcoin

A recent survey indicates that Nigerian trust Bitcoin more than gold when it comes investments.

Bitcoin is rightly deemed as the “Digital Gold”. The cryptocurrency, introduced to the world in 2009 has all the properties of gold, except for the weight and these features aren’t lost on the Nigerian cryptocurrency community. Bitcoin has a huge presence in African nations, and Nigeria is one such African country which recently ranked high in Google Trends for Bitcoin-related searches. The extent of faith in the cryptocurrency among the community is now known to the world, thanks to a recent survey conducted by Luno — a cryptocurrency platform serving the region.
 

As a part of this survey, Luno sent a series of questions to all its Nigerian customers, and the results didn’t come as a surprise. The report states that the trust factor in Bitcoin among Nigerians is at an all-time high, as over 59% of the participants in the survey responding positively to the cryptocurrency. The untrusting ones were about 17% of all survey respondents while the remaining preferred to be neutral.
 

One of the leading African tech magazines quoted a representative from Luno describing the survey process saying,

 

“We shared a survey with our Nigerian customers which went out to all of our customers. We then reviewed the results for statistical significance, outliers, and errors and compiled the infographic from the data… Note that it was only sent to Luno customers, so the data might be slightly skewed towards our customer preferences (as opposed to all Nigerian Bitcoin users), but we enjoy the highest trading volume of Nigerian Bitcoin exchanges — as per publicly available volume data — so it should be somewhat similar across the board. We aim to do much more research and share the results with the media and Bitcoin community in the coming months.”

While the results may not be 100% accurate as those participating in the survey were already onboard Luno platform, which makes them existing cryptocurrency users, potentially having a biased opinion towards their favorite digital currency. Also, many of these respondents were found to be in favor of purchasing Bitcoin over gold as they expect the cryptocurrency’s value to appreciate much faster than that of the yellow metal.
 

The results of the survey were published by Luno in the form of an infographic, along with a promise to provide more information as soon as it finishes in-depth research and analysis of not just the platform’s users but other individuals as well.

David Ogden
Entrepreneur

Alan Zibluk Markethive Founding Member