Nigerians Are Using Bitcoin

A bitcoin boom in Africa has been driven by payments from small businesses as well as remittances sent home from Nigerians around the world.⁠ ⁠ ⁠ Four months ago, Abolaji Odunjo made a fundamental change to his business selling mobile phones in a bustling street market in Lagos: He started paying his suppliers in bitcoin.⁠ ⁠ Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed and convenience.⁠ ⁠ The shift has boosted his profits, as he no longer has to buy dollars using the Nigerian naira or shell out fees to money-transfer firms. It is also one example of how, in Africa, bitcoin - the original and biggest cryptocurrency - is finding the practical use that it has largely failed to elsewhere.⁠ ⁠ Via Reuters⁠ ⁠