Bitcoin trading with the Nigerian naira hit record highs at 971,829,166 worth of Nigerian naira exchanged, which is the equivalent of about $3 million USD. There is not one specific reason why the Nigerian bitcoin trade has grown so rapidly, but there are clues. The Nigerian people do not necessarily have faith in fiat currency anymore. They also desire more economic freedom.
In Nigeria, local traders and activists believe this new money presents an opportunity to democratize the economy. This is propelled by the fact that people in Nigeria have been failed by conventional money.
