BTCC / BTCC Square / Global Cryptocurrency /

Nigerians Favor Crypto and Gambling Over Capital Markets Amid Economic Strain

Nigerians Favor Crypto and Gambling Over Capital Markets Amid Economic Strain

Author:

Global Cryptocurrency

Published:

2025-10-27 20:14:02

27

1

BTCCSquare news:

Nigeria's household investments are undergoing a dramatic shift as citizens pour funds into cryptocurrency and gambling platforms at the expense of traditional capital markets. The Securities and Exchange Commission (SEC) reports $5.5 million flows daily into gambling—a sector attracting over 60 million Nigerians—while fewer than three million participate in stock market investments.

Cryptocurrency transactions surpassed $50 billion between July 2023 and June 2024, fueled by 70% naira depreciation and chronic inflation. SEC data reveals listed assets now represent just 30% of GDP, lagging behind South Africa (300%), Malaysia (120%), and India (90%). This capital flight reflects a population chasing rapid returns as poverty rates exceed 50%.

By:

Canada Accelerates Stablecoin Regulation Ahead of Budget Announcement

|Square

Get the BTCC app to start your crypto journey

Download on the App Store GEI IT ON Google Play

Get started today Scan to join our 100M+ users

Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

The world’s longest-running cryptocurrency exchange since 2011 © 2011 - 2025 BTCC.com. All rights reserved

All articles reposted on this platform are sourced from public networks and are intended solely for the purpose of disseminating industry information. They do not represent any official stance of BTCC. All intellectual property rights belong to their original authors. If you believe any content infringes upon your rights or is suspected of copyright violation, please contact us at [email protected]. We will address the matter promptly and in accordance with applicable laws.BTCC makes no explicit or implied warranties regarding the accuracy, timeliness, or completeness of the republished information and assumes no direct or indirect liability for any consequences arising from reliance on such content. All materials are provided for industry research reference only and shall not be construed as investment, legal, or business advice. BTCC bears no legal responsibility for any actions taken based on the content provided herein.