The recent report of Trading Browser revealed countries with the highest usage of crypto with Nigeria ranking first. Trading Browser carried out its research showing the increase in percentage from 2019 to 2022.
The report shows the total population of each country, then the percentage of the population that uses crypto. Among the top ten, we have 2 African countries, 5 Asian countries, 2 South American countries, one European country, and other countries.
From 2019 to 2022, Nigeria saw a 17% total increase in ownership and use from 28% to 45%, equating to over 34 million people adopting cryptocurrency over the three years.
Source: Nairametrics
Countries and Crypto
Here are the top ten countries with the highest cryptocurrency usage and ownership out of the 22 countries that adopted crypto usage;
According to the report, 45% of the Nigerian population uses crypto, which is a total of 90 million people out of the 200,963,599 population. Coming in second place is Thailand with 40% of its population using crypto while South Africa ranked 10th position.
The Most Used Cryptocurrency:
Furthermore, there are different types of cryptocurrencies examples are Bitcoin, Ethereum, Tether, BNB, USD Coin, XRP, Binance USD, Cardano, Dogecoin, Polygon, and so on. Of all the currencies shown in the report, Bitcoin emerges as the most popular.
A further breakdown of the research indicates that aside from Nigerians being the highest proportion of citizens using cryptocurrencies globally, crypto users in sub-Saharan Africa are mostly interested in Bitcoin.
Per the report, Bitcoin remains the most popular crypto token in the country as over 60% of the respondents are BTC holders.
Ethereum, the second most popular cryptocurrency
Following at number two on the list of the most preferred cryptocurrencies in the country is Ethereum (ETH) with 23.8% holders.
Interestingly, despite Nigeria’s high use of crypto, when it comes to ETH, they are ranked 15th compared to other countries on the list.
Doge is also a preferred asset
The popular meme coin is Dogecoin, the third most preferred asset among Nigerian crypto holders.
Conclusion
It can be concluded that so far based on research and reports, Nigerians dominate the adoption of crypto and trading in West Africa and Africa at large.
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