Even when regimes are hostile toward bitcoin and even with infrastructural hurdles such as limited internet connectivity, it seems bitcoin still manages to thrive. Case in point is when Nigeria’s central bank restricted cryptocurrency usage in the country last year (a country where just over half of the population has internet access), Paxful’s volumes increased, according to Youssef.

“They forbade any of their banks from having any accounts [linked to] cryptocurrency exchanges. What happened? Paxful’s volumes went up by 20% at least, and continue to grow, because everyone went peer-to-peer,” Youssef said.