In comparison to other African nations, Nigeria has shown the greatest interest in digital currencies like Bitcoin and Ethereum, according to a study published by price monitoring firm CoinGecko.
According to data collected so far this year, the most populated country in Africa is responsible for 66.8% of the continent’s cryptocurrency interest
Prior to now, Nigeria and Kenya were thought to have the highest levels of interest in cryptocurrencies worldwide.
Nigeria has become one of the world’s markets for cryptocurrencies that is expanding the fastest, according to a recent analysis from Blockchain.com.
Remember that 32% of Nigerians who participated in a 2020 online survey conducted by data company Statista reported utilizing cryptocurrencies. This is the country with the highest proportion in the entire world.
South Africa, Morocco, Ghana, Egypt, and Côte d’Ivoire haven’t had much of an impact on African interest in cryptocurrencies.
With less than 2.0% each year, the remaining 48 African nations have the lowest relative interest in cryptocurrencies all through the entire continent.
In particular, just 41 of the 54 African nations have declared interest in cryptocurrencies so far this year, while 13 countries in Africa currently have no interest in cryptocurrencies.
With over 200 million inhabitants, Africa’s greatest economy also generates the majority of the continent’s BTC trade activity.
With an average age of 18 and the majority of its population falling between the ages of 15 and 65, Nigeria is one of the nations with the greatest young populations in the world. It offers a chance to use young people’s potential for long-term growth and development.
According to experts, the lack of foreign exchange and the strict requirements set by African banks have sparked a high level of interest among the continent’s people as they use digital assets to combat problems like hedging, remittance, and providing comfort during economic uncertainty.
The growing popularity of crypto assets in Nigeria is, in part, due to the fact that the cryptocurrency business has given young Nigerians new work prospects.
The number of jobs in the cryptocurrency industry has more than doubled from earlier estimates by 2020.
