China and Nigeria leads world bitcoin transactions in 2017

Bitcoin is gaining more prominence globally and Nigeria is definitely not lagging behind.
A recent report indicated that Nigeria was a major hub of transactions in the digital currency.
As a matter of fact, China and Nigeria lead the world’s peer-to-peer (P2P) bitcoin transactions in the year 2017 out-pacing major European countries, like the United Kingdom, and even the United States of America, according to data from
This development was despite the clampdown on bitcoin exchanges and orders for start-ups that embarked on initial coin offerings (ICOs) to return investors’ money in China.
This shows that the acceptance of the digital currency is on the rise with the data from Nigeria and China.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralised digital currency, as the system works without a central bank or single administrator.
A transaction is a transfer of value between bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.

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