Nigeria’s crypto boom isn’t just about technology – trust plays a role in the local gadget trade with China

By Atta Addo, Senior Lecturer in Digital Innovation and Entrepreneurship, University of Surrey

On a humid afternoon in Nigeria’s commercial capital, Lagos, a young trader in electronics pulls out his phone and opens Binance, the world’s largest cryptocurrency trading platform by trading volume. He’s not monitoring the Bitcoin market or chasing the next crypto craze. He’s paying a supplier in the Chinese port city of Guangzhou for 500 smartphones.

Like numerous other traders at the Lagos Computer Village, he has a Binance digital…

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