LocalBitcoins has said that Nigeria is one of its most important markets with tremendous growth in recent months and weeks.
In Q4, 2020, Nigeria became the 5th largest market in trading volume on the LocalBitcoins marketplace knocking out the United States from its previous place.
LocalBitcoins has also revealed its numbers in Nigeria as of 2021 so far as follows:
- 1, 500 news users every week in the beginning of the year
- Recent weeks have seen growth of over 3, 000 new users per week
- Weekly trade volumes at the beginning of the year was at $2 million per week
- Recent weeks have seen trade volumes grow to over $3 million per week
Speaking about their activities in Nigeria despite the ban, LocalBitcoins has said:
“We are going to stay in Nigeria.
We are not going anywhere. We know the 200 million people in Nigeria have a real need for bitcoin and we are proud to be serving them.”
Check out the video above as LocalBitcoins discusses the Nigerian market amidst the ongoing crypto ban in the country.
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