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90% of Nigerians Aware of Cryptocurrency: ConsenSys Report

The survey asserted that Nigeria (the biggest economy in the African continent) has the most crypto-aware citizens around the globe.

ShahZaib Ahmed



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A worldwide survey dealing with the respondents from fifteen countries makes a shocking revelation about Nigeria. The survey asserted that Nigeria (the biggest economy in the African continent) has the most crypto-aware citizens around the globe. YouGov and ConsenSys are responsible for releasing the findings of the survey.

A Report from ConsenSys Says Nigerian People Are More Aware of Crypto as Compared with Others

The respective survey attempted to offer both regional and macro insights into the diverse countries’ perceptions concerning crypto. It also focused on displaying the participants’ views regarding the wider Web3 sector. A chief takeaway from the data collected from the survey revealed that a couple of nations in Africa are prominent.

Also Read: Mastercard and Binance Terminate Collaboration in Latin America, Says a Report

Hence, ninety-nine percent of people in Nigeria and ninety-nine percent of people in South Africa have comprehensive knowledge of Web3. Contrarily, the people in well-known economies such as Germany, Japan, the US, and the UK lag and have less knowledge. The survey comprised up to 15,158 respondents living across fifteen countries. The ages of the respondents ranged between eighteen and sixty-five.

The crypto sector-related knowledge of the Nigerian people is reflected by the ownership of crypto among the country’s population. In this respect, out of 1,001 Nigerian respondents, seventy-six owned crypto assets. The most commonly held cryptocurrencies included Ether (ETH) and Bitcoin (BTC). The rank of Dogecoin (DOGE) and BNB Coin (BNB) come after them.

Nigerians Show Increased Interest in Crypto and Demand the Creation of New Laws to Protect Users

These assets were positioned higher than Tether (the biggest stablecoin). Ninety percent of the respondents from Nigeria displayed interest in crypto investments in the next year. However, sixty-five percent pointed out that crypto played the role of a hedge against monetary devaluation and hyperinflation.

The Nigerian Central Bank reportedly terminated ties between crypto exchanges and regional banking institutions back in 2021’s February. Thus, respondents called for the creation of the latest laws to persuade participation while shielding investors.

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