Lagos Businessman Bemoans Slow Adoption of Bitcoin Payments
Lagos-based businessman Vincent, who deals in electrical appliances, has expressed frustration over the slow adoption of Bitcoin payments in Nigeria.
In a recent conversation with Technext24.com, Vincent noted that while many people have cryptocurrency wallets capable of making payments in Bitcoin, they still prefer to pay in cash or via bank transfers.
'People with Bitcoin wallets come and show me their crypto wallets, but still pay in cash or by bank transfer,' he said.
Vincent attributes the low adoption rate of Bitcoin as a means of payment to the lack of education about its benefits. He encourages businesses accepting Bitcoin payments to put up signs indicating that they accept crypto, just like he has done outside his shop.
'We need to educate people on how to use Bitcoin and make them aware of its safety,' Vincent said.