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Invezz.com predicts a cryptocurrency future brimming with promise in Nigeria.
RELATED: Nigeria ranks top for Cryptocurrency use and ownership
They did this research & statistics article to look deeper into the high-potential emerging market, and here is what they found:
- Crypto ownership among Nigerians was 46% in 2023.
- 90% of Nigerians are planning future cryptocurrency investments, the highest globally.
- Nigeria ranked second globally for crypto adoption in 2023.
- Nigeria ranked first globally for P2P cryptocurrency transactions in 2023.
- Bitcoin adoption rate stands at 76% among Nigerian crypto investors.
- Crypto adoption in Nigeria increased by 15% between 2020 and 2023.
- Nigeria has the highest level of cryptocurrency awareness globally, reaching 99%.
- In Nigeria, there is no gender gap in cryptocurrency adoption, with a 50-50 split between men and women investors.
- Most Nigerians want to use crypto profits to start a business (40%) and improve their familiesâ lives (40%).
- Volatility in the cryptocurrency market is the biggest barrier to crypto adoption in Nigeria.
Harsh Vardhan, editor-in-chief at Invezz commented on the findings:”Nigeriaâs high crypto adoption rate is not only reshaping its investment landscape but also illustrating a broader shift towards digital financial solutions in lower middle-income countries.
The African country saw a remarkable crypto adoption curve, driven by a young and tech-savvy population that lacks access to affordable traditional finance. Data indicated high hopes for cryptocurrency as the future of finance for Nigerians, dreaming about starting a business and improving the lives of their families.”
Full research can be found here:Â https://invezz.com/research/nigeria-crypto-adoption-statistics/
