Nigeria is a country located extreme gulf of guinea on the west coast of Africa, and a population of over 200 million of which about 60% are youths. Nigerian citizens are always open to opportunities that can bring financial freedom and improved standard of living which Bitcoin promised in its white paper.

Africans misunderstood Ponzi took it as an investment and it ended up breaking homes and destinies. The mark of disappointments the platforms crested on the heart of Nigerians is now on BITCOIN. Why you may asked?, It was used as means of payment.

SOME PONZI SCHEMES THAT SCAMMED NIGERIANS

• MMM (Mavrodi Mundial Movement)
  

  ponzi schemes are scams, and can ruin life.

• MMM global
• Clarita’s
• Ultimate cycler
• I-charity
• Givers forum e.t.c

THE BELIEVE OF NIGERIANS ABOUT BITCOIN

Bitcoin the new money.

BITCOIN is now a ponzi scheme in the heart of many Nigerians. In Nigeria only the very few who have taken time to read white papers of the various project rising from the same technology as Bitcoin is investing in it. LENDING COINS was the pioneering project of the Blockchain technology in Africa. Nigerians were all interested in the quick gains of the lending program and were heavily investing in it.  After 2017 bull run the lending programs began to melt down. The lead lending program Bitconnect (BCC) not being able to meet up to the unrealistic promises.

Today many Nigerians don’t understand the real concept of BITCOIN. The personalities promoting cryptocurrency in Nigeria are killing the technology. They promote the MLM (Multi-Level-Marketing) scheme they run and call it cryptocurrency. Africa and Nigeria is yet to understand the opportunities of Blockchain technology. The technology is going main stream events and exhibitions should be held in Africa by founder’s of world solving problems backed by Blockchain (cryptocurrency). This will fast track the adoption.