Bitcoin (BTC) trading volume in Nigeria 2013-2021, per week
Nigeria's interest in Bitcoins reached a peak during the summer of 2020, reaching the highest level since early 2018. This conclusion reveals itself after investigating Bitcoin trading volume against domestic currencies used for the transaction of the virtual currency. The African country was said to be one of the three countries with the most Bitcoin trading in the world in 2020.
It should be noted that the source believes the domestic currencies are mainly used by the domestic population: it assumes residents from Nigeria are the only ones who make transactions using Nigerian naira. Whether this assumption is right or not, cannot be verified here. Also, the source does not explain the peak found in 2018, or whether the high trading volume in 2017 was tied to a specific event.
It should be noted that the source believes the domestic currencies are mainly used by the domestic population: it assumes residents from Nigeria are the only ones who make transactions using Nigerian naira. Whether this assumption is right or not, cannot be verified here. Also, the source does not explain the peak found in 2018, or whether the high trading volume in 2017 was tied to a specific event.
