Nigeria has once again emerged as the global leader in cryptocurrency ownership and adoption, according to a newly released report by blockchain and Web3 software giant Consensys.
The report, released on Tuesday, highlighted Nigeria’s significant growth in crypto adoption, building on its already high levels recorded last year. Joseph Lubin, Co-Founder of Ethereum and CEO of Consensys, stated that Nigeria and India have witnessed continued increases in crypto ownership, with Nigeria standing out for its strong trust in internet services that handle user data, reaching a remarkable 98%.
The report revealed that cryptocurrency awareness in Nigeria remains overwhelming, with 99% of respondents indicating familiarity with crypto. Additionally, 77% of Nigerian respondents demonstrated the highest level of understanding of cryptocurrencies among the surveyed countries.
“A desire for more ownership was evident, with 84% of Nigerian respondents owning at least one crypto wallet. Among those aware of NFTs, 94% plan to acquire them within the next year,” the statement noted.
The report also underscored Nigerians’ commitment to data privacy and decentralization. It revealed that 92% of Nigerians want greater control over their online identities, while 87% seek more control over internet platforms that use their data. Over half of the respondents believe decentralization could improve traditional banking and social media platforms.
“Nigerians also lead in understanding the concept of decentralization, with 80% awareness,” the statement added.
This year’s report expanded on the 2023 survey, reaching over 18,000 individuals aged 18-65 across 18 countries in Africa, the Americas, Asia, and Europe, further solidifying Nigeria’s position as a key player in the global cryptocurrency ecosystem.
