Nigeria Tops Global Survey as Most Cryptocurrency-Aware Nation
Summary:
Nigeria has the highest cryptocurrency awareness in the world, according to a global survey. The study reveals that 99% of Nigerian respondents are aware of cryptocurrencies, with 76% owning or having previously held digital assets. The survey also highlights Nigeria's interest in investing in cryptocurrencies as a hedge against hyperinflation monetary devaluation.
Nigeria has emerged as the country with the highest cryptocurrency awareness in the world, according to a global survey conducted by Consensys and YouGov. The survey aimed to gather insights into how different countries perceive cryptocurrencies and the wider Web3 ecosystem. Interestingly, Nigeria and South Africa ranked higher in cryptocurrency awareness than major economies like the United States, Great Britain, Japan, and Germany. The survey included 15,158 individuals aged between 18 and 65 living in 15 different countries. In Nigeria, 99% of respondents reported being aware of cryptocurrencies, with 70% claiming to understand the fundamental concepts of blockchain technology. Notably, 76% of Nigerian respondents either owned or had previously held cryptocurrencies, with Bitcoin and Ethereum being the most common choices. Binance Coin (BNB) and Dogecoin were also popular among Nigerian investors. Looking ahead, 90% of Nigerian respondents expressed an interest in investing in cryptocurrencies in the next year, citing potential protection against hyperinflation monetary devaluation as a key driver. Despite the Nigerian Central Bank severing ties between cryptocurrency exchanges, firms, and local banks in February 2021, 50% of those surveyed believe that regulators should focus on creating laws that encourage cryptocurrency participation while safeguarding investors. The survey also revealed that 95% of respondents in the United States were aware of cryptocurrencies, but only 42% felt they had a clear understanding of the sector. Additionally, only half of the American respondents reported owning or having owned cryptocurrencies. For more insights from the survey, including data from other countries, refer to the Consensys publication.
Published At
9/4/2023 8:22:18 AM
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