Underrated National Currencies in Crypto Exchange: Why NGN and VND Are Emerging as Promising Markets

Underrated National Currencies in Crypto Exchange: Why NGN and VND Are Emerging as Promising Markets

Published: 01/07/2026
By: Dipo Olowookere

In a rapidly evolving financial landscape, the Nigerian naira (NGN) and Vietnamese dong (VND) are stepping into the spotlight as significant players in the cryptocurrency exchange market. As traditional financial systems struggle to keep pace, these local currencies are becoming essential tools for everyday transactions, driven by practical needs rather than speculative investments.

The Rise of Local Currencies in Crypto Exchange

The global cryptocurrency market is no longer dominated solely by major currencies like the US dollar or euro. Instead, local fiat currencies are gaining traction, particularly in developing regions where traditional banking infrastructure is limited. High international transfer fees and volatile exchange rates have made cryptocurrencies an attractive alternative for bridging local and global financial systems.

Recent data reveals that between July 2024 and June 2025, on-chain cryptocurrency transactions in Sub-Saharan Africa surpassed $205 billion, marking a remarkable 52% year-over-year growth. Notably, transactions under $10,000 accounted for 8% of the total volume, indicating a shift in demand beyond stablecoins like USDT and USDC.

Nigeria: A Crypto Powerhouse

Nigeria has emerged as a leading force in the global cryptocurrency market, particularly following significant currency reforms in 2023-2024 that led to a depreciation of the naira. With limited access to US dollars and a widening gap between official and market exchange rates, Bitcoin and stablecoins have transitioned from mere investment assets to practical tools for payments and savings.

In 2023, Nigeria ranked first globally in peer-to-peer (P2P) cryptocurrency trading, and by 2024, it climbed to second place in the Global Crypto Adoption Index. The volume of cryptocurrency transactions in Nigeria exceeded $92.1 billion in the year ending June 2025, nearly three times that of South Africa.

Demand for cryptocurrency in Nigeria is driven by practical needs. Approximately 89% of transactions involve naira-to-BTC conversions, with many Nigerians preferring to receive payments in stablecoins rather than in naira. The country has accounted for about 60% of all stablecoin inflows into Sub-Saharan Africa since 2019.

Vietnam: A Leader in Retail Cryptocurrency Markets

In contrast to Nigeria, Vietnam boasts a stable currency but has one of the world’s most active retail cryptocurrency markets. In 2025, Vietnam ranked fourth in the Global Crypto Adoption Index, with total crypto transactions exceeding $200 billion.

The demand for cryptocurrency in Vietnam is fueled by international remittances and a rapidly expanding digital economy. Annual remittance inflows surpassed $16 billion in 2024-2025, creating a steady demand for converting foreign assets into Vietnamese dong. Additionally, Vietnam’s e-commerce market, valued at approximately $32 billion, drives further demand for efficient payment solutions.

The Role of BestChange in Facilitating Exchanges

As the demand for NGN and VND in cryptocurrency exchanges grows, platforms like BestChange are becoming invaluable. Users can compare exchange rates, transaction limits, and service reputations, ensuring they make informed decisions when converting currencies.

In emerging markets, evaluating exchange routes involves more than just looking at rates; factors such as the cryptocurrency network, payout methods, and user reviews are crucial. BestChange allows users to assess these elements before sending funds, enhancing security and compliance.

Conclusion

The Nigerian naira and Vietnamese dong are no longer niche currencies in the cryptocurrency market. They are vital for addressing real-world financial needs, from international transfers to everyday payments. As cryptocurrency adoption continues to rise, these currencies are poised to play an increasingly important role in the global financial landscape.