Nigeria’s present disposition on cryptocurrency may not stand for too long. This is as almost all world economies are adjusting their trade activities to accommodate crypto transactions. The means of payment is also attracting new investors and appreciable use cases. Cryptocurrency, sometimes, simply called crypto, is a digital currency that can be used to buy goods and services.

Nigeria’s present disposition on cryptocurrency may not stand for too long. This is as almost all world economies are adjusting their trade activities to accommodate crypto transactions. The means of payment is also attracting new investors and appreciable use cases. Cryptocurrency, sometimes, simply called crypto, is a digital currency that can be used to buy goods and It uses online ledger with strong cryptography to secure online transactions. However, much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward. The Nigerian government recently placed a ban on transactions on crypto through local banks, warning users of the uncertainty and heavy risks involved that can cripple an economy.

Meanwhile, world’s largest payment company, PayPal recently announced that it has agreed to acquire Curv, an Israelbased crypto-security firm as it expands its portfolio in crypto currencies and digital assets. It is a deal that could potentially open up new use cases for the crypto market. PayPal had recently created a new business unit focused on blockchain, crypto and digital currencies.

Curv will be joining the newly formed group. Founded in 2018, Curv provides companies with digital asset security technology that is delivered as a cloud service. The acquisition by PayPal presents Curv with an opportunity to expand into a global market while providing the service to over 325 million PayPal users around the world. PayPal is not the only investor deepening the use case for the crypto market.

Just last week, Tesla announced that it has started accepting Bitcoin as a payment method for vehicles. Chief Executive Officer of Tesla Inc., Elon Musk said that a Tesla vehicle can now be bought using bitcoin and the option will be available outside the United States later this year. The automaker last month revealed that it had bought $1.5 billion worth of bitcoin.

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