Why Young People Are Investing in Crypto in Nigeria
Young people in Nigeria are speaking: "Nigeria has emerged as one of Africa’s most active hubs for cryptocurrency activities, recording over $50 billion in crypto transactions between July 2023 and June 2024, according to data from the Securities and Exchange Commission (SEC). The staggering figure highlights the increasing adoption of digital assets in the country and the growing risk appetite of Nigerian investors outside the traditional capital market."
If young people have chosen crypto, what happens to the traditional assets in Nigeria? Yet, it is not about crypto. What is happening is that people are looking for safer havens due to currency deterioration and inflation, and crypto tied to USD, seems to be a domain.
If Naira can stabilize over say 6–10-year period without losing huge value and inflation remains modulated over time, investing patterns in young people will evolve.
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