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Nigeria’s Bitcoin Premiums May Better Reflect Country’s Demand for the Dollar, Not Crypto

Nigerians are paying a premium, but probably more for the stability of the U.S. dollar than for bitcoin, an analyst told CoinDesk.

By Sandali Handagama

Updated Feb 3, 2023, 4:48 p.m. Published Feb 3, 2023, 4:34 p.m.

Nigeria's bitcoin premiums are skewed by U.S. dollar exchange rates in the country. (Minchen Liang/Getty)