Nigerians traded nearly $600 million in Bitcoin in the last five years, making the country the second-largest Bitcoin market after the US. Now the government has placed a ban on cryptocurrency trade.
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Nigeria — the world's second-largest Bitcoin market after the United States — has banned the trading of cryptocurrencies. It's triggered anger among Nigerians who see cryptos as a safe haven in a battered economy.
Bitcoin's latest volatility has both skeptics and fans claiming their predictions are finally coming true. DW takes a look into the past to see what the future might hold for the digital coin.
Running the cryptocurrency Bitcoin requires more energy than New Zealand and Belgium put together. How can something virtual keep power plants around the world so busy? DW's Timothy Rooks looks into the numbers.
The cryptocurrency's value has jumped by nearly 75% since the start of this year as more companies, including Tesla, have lent their support. The surge also coincides with volatility on the markets during the pandemic.
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