Nigeria Tops Global Awareness Charts in Cryptocurrency Survey

ConsenSys and YouGov performed a ground-breaking worldwide poll to get insights into bitcoin awareness throughout the world. With Nigeria leading the way, this thorough survey sought to offer insight on how people in 15 different nations see cryptocurrencies and the larger Web3 environment.

Nigeria Leads the Way in Crypto Knowledge

This thorough study’s most startling finding is that Nigeria, Africa’s largest economy, has the world’s most cryptocurrency-savvy populace. Surpassing nations like the UK, the US, Japan, and Germany, an incredible 99% of Nigerians and 98% of South Africans exhibit a thorough comprehension of Web3.

15,158 people from the nations that were questioned, ranging in age from 18 to 65, provided replies for this international research project. Notably, 70% of respondents from Nigeria said they understood the basic ideas behind blockchain technology.

Nigeria’s Crypto Ownership and Enthusiasm

The high amount of bitcoin knowledge and ownership in Nigeria is reflected in its populace. Impressively, 76% of the 1,001 Nigerian respondents said they now own or have ever owned cryptocurrencies. The most common were Bitcoin (BTC) and Ether (ETH), with Binance Coin (BNB) and Dogecoin (DOGE) both showing up significantly, surpassing even the powerful Tether (USDT).

Additionally, a startling 90% of participants from Nigeria stated that they planned to invest in cryptocurrencies in the future year. For 65% of those surveyed, cryptocurrency represented a potential insurance policy against deflation and hyperinflation.

Regulatory Perspective in Nigeria

It’s important to remember that in February 2021, the Central Bank of Nigeria cut relations with cryptocurrency exchanges, local banks, and businesses. In light of this, the majority of Nigerian respondents to the study urged for regulatory frameworks that not only encourage participation but also protect investors’ interests.

Global Crypto Awareness

The company that conducted this insightful poll, ConsenSys, has gathered information and analysis for each of the 15 nations it covered. In the United States, 95% of respondents showed some level of familiarity with cryptocurrencies, however 42% acknowledged hearing about the industry without fully comprehending it. Surprisingly, just 50% of the participants from the United States stated that they currently possess or have previously held cryptocurrencies.

This study highlights Nigeria’s amazing rise to the top of the world’s bitcoin awareness rankings, overtaking established financial superpowers. Nigeria’s position in the global cryptocurrency scene is poised to develop even further as a result of its population’s profound awareness of Web3 and rising interest in cryptocurrency investments.