Nigeria is the biggest Bitcoin market in the world in terms of the percentage of the population which have experience with it, with tens of millions of citizens currently using or having used the cryptocurrency in the past. Indeed, it’s second only to the USA with regard to the overall value of bitcoin transactions conducted on a daily basis… so where is everyone spending their money?
Although the Nigerian authorities have long since opposed Bitcoin – even going as far as to ban the country’s banks from accepting or processing it in any form – there are still plenty of outlets for you to use your bitcoin. Here’s a handful of our favourites outlined below.
Buying goods and services
There are a growing number of retailers and service providers who are willing to accept cryptocurrency as payment, including several big household names such as Microsoft, Tesla and Overstock. However, there are countless smaller enterprises which are equally happy to take bitcoin payments; sites like Spendabit give a full list of merchants across the globe operating in all kinds of industries and sectors. You’re sure to find a home for your bitcoin when indulging in some retail therapy, regardless of what kind of products you’re searching for.
Visiting an online casino
Gambling is an increasingly popular pastime around the world and has gone from strength to strength since its migration into cyberspace. While brick-and-mortar establishments still have their place in society, their online counterparts have embraced technological innovations that bring much to the table. For example, the advent of BTC video slots allows players to use cryptocurrencies to play fun, themed slot games that are almost as much about the engaging gameplay and impressive graphics as they are about winning or losing.
Giving a gift card
We’ve all experienced the frustration and difficulty of buying a present for someone who has notoriously refined tastes. They say the thought counts, but for some people a misplaced thought is just as offensive as no gift at all. Gift cards can come to the rescue in such situations, since you can simply buy a voucher for the individual’s favourite store and let them choose their own present. Buying one in cryptocurrency through a third-party vendor also allows you to access stores which might not accept bitcoin directly, meaning the gift could even be to yourself.
Donating and tipping
There are a multitude of reasons why giving back is good for the soul – it helps others less fortunate than you, it connects you with things you’re passionate about and it gives you a warm fuzzy feeling inside. Thankfully, it has become easier than ever to use bitcoin to donate to charitable causes. You can even tip people online for their work using the cryptocurrency! A growing number of developers, writers, photographers and other freelancers accept bitcoin as a means of showing your gratitude, which makes the whole process much simpler.
If you’ve accrued more bitcoin wealth than you know what to do with, fear not – there are plenty of places in cyberspace which accept the currency in exchange for goods, services and donations.