Bitcoin Jumps to $72,000 in Nigeria After Ban

bitcoin premium nigeria after ban

Bitcoin has been trading at more than $72,000 in Nigeria, one of Africa’s richest country with a GDP of $400 billion. That’s magnitudes more than the global price of bitcoin at $51,200 at the time of writing. Making this the biggest premium in bitcoin’s history by amount with one bitcoin being $20,000 more expensive in Nigeria than elsewhere according to data from the bitcoin price map as pictured above. NairaEX, one of Nigeria’s biggest exchange with more than 130,000 users, currently has one bitcoin for about 25 million Naira, Nigeria’s currency. That is worth $65,000, considerably more than in any market across the globe as the ban leads to a huge premium. NairaEX said that they are “currently unable to process Naira deposits to NairaEx through the virtual bank accounts due to Nigeria’s Central Bank ban on cryptocurrency. We’ll continue to process sell orders and withdrawal requests but processing time…

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