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Bitcoin Trading Comes to Nigeria
8 January 2015 | Nick Marinoff | newsbtc.com
South African bitcoin exchange ICE3X has now made it possible to trade bitcoin in Nigeria through a partnership with Nigerian payment processor VoguePay.
Exchange founder Gareth Grobler described the situation with enthusiasm, and feels that Nigeria, Africa’s most populous country, is the prime area for a possible bitcoin market:
“The market… is potentially massive. VoguePay have spotted the opportunity bitcoin offers, seeing as one of the primary attributes of bitcoin is its security. Nigerian online consumers simply do not have the same access to goods and services from international vendors due to one simple thing – credit card fraud. Bitcoin solves that problem… The idea is that, for example, a farmer in Nigeria can buy a tractor from a supplier in the USA, and both parties could benefit from the near instant, secure and transparent funding solutions underpinned by the bitcoin technology.”