A survey with participants from all seven continents indicates that Nigeria has the most crypto-savvy population worldwide.
The largest economy in Africa, Nigeria, has the most cryptocurrency-savvy population in the world, according to a global survey with participants from 15 countries.
ConsenSys and YouGov have released the results of their global Web3 perception survey, which aimed to provide macro and regional insights into the perception of cryptocurrencies and the Web3 ecosystem in various countries.
Two African nations ranked highest in terms of awareness of cryptocurrencies, according to the qualitative survey’s findings. According to the survey, 99 percent of Nigerians and 98 percent of South Africans know more about Web3 than individuals from significant economies such as the United Kingdom, the United States, Japan, and Germany.
The survey included 15,158 individuals aged 18 to 65 residing in 15 countries. 70% of Nigerian respondents said they were familiar with blockchain technology’s fundamental concepts.
Nigeria’s knowledge of the cryptocurrency industry is reflected in its population’s possession of cryptocurrencies. 76% of the 1,001 Nigerian respondents held or previously held cryptocurrencies.
Bitcoin and Ethereum were the most prevalent, whereas BNB BNB and Dogecoin ranked higher than the largest stablecoin in the world, Tether USDT.
90% of Nigerian respondents expressed an interest in investing in cryptocurrencies within the next year, and 65% of respondents remarked that cryptocurrencies provided a hedge against hyperinflation and monetary devaluation.
Because the Central Bank of Nigeria severed ties between cryptocurrency exchanges, firms, and local banks in February 2021, fifty percent of respondents indicated that regulators should enact laws encouraging participation and safeguarding investors.
ConsenSys has published data and analysis about all 15 countries surveyed. 95% of respondents from the United States were familiar with crypto, while 42% had heard of the sector but needed a more precise understanding. Only fifty percent of American respondents indicated that they own or have previously owned cryptocurrencies.
