Nigeria Dominates Global Crypto Awareness Charts: 90% of Nigerians Willing to Invest

Nigeria Tops in Crypto Awareness 

A recent survey by ConsenSys has crowned Nigeria as the global leader in cryptocurrency awareness. Among 15 countries surveyed across continents, 99% of Nigerians demonstrated an awareness of cryptocurrencies. But awareness isn't the only remarkable thing; a staggering 90% of Nigerians are willing to invest in digital assets, with 70% having a good understanding of blockchain.

Unlike some regions where cryptocurrencies are seen as speculative assets, Nigeria views them through a different lens. For Nigerians, cryptocurrencies represent financial opportunities and security. This shift in perspective could play a pivotal role in driving cryptocurrency adoption in the country.

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Nigeria's Crypto Portfolio Diversification

Nigerians entered the crypto space for various reasons. Nigerians were most concerned about diversifying their portfolios, followed by concerns about the instability of their local currency, the Nigerian Naira. Bitcoin, Ethereum, Binance Coin, Dogecoin, Tether, and Shiba Inu were the favored assets among Nigerian investors.

In 2022, six out of ten Nigerians heard about centralized crypto companies' bankruptcies, impacting trust to a moderate extent. Nigerians emphasize the importance of enhancing security, transparency, and accountability within the crypto sector to rebuild trust.

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Global Perceptions on Crypto: Insights from the Survey

ConsenSys' comprehensive survey sought to understand global perceptions surrounding cryptocurrencies, NFTs, Web3, blockchain, and the metaverse. While 92% of respondents worldwide had heard of cryptocurrencies, only 8% considered themselves very familiar with Web3, highlighting a knowledge gap in its potential.

The survey unveiled regional disparities in crypto attitudes. While European countries, Japan, and South Korea exhibited skepticism, associating crypto with negative concepts, Southeast Asia, South America, and Africa displayed enthusiasm, seeing crypto as a financial opportunity and a hedge against unstable local currencies.