Survey Shows that Majority of Cryptocurrency Investors from Africa are Nigerians


Ever since the cryptocurrency industry came into being, almost every part of the world has tried adopting cryptocurrencies. Even the continents are competing with each other to gain superiority over the others in terms of the adoption of cryptocurrencies.

Africa is Growing Big

Africa, which is the second largest continent in the entire world with a total population of 1.216 billion is also gaining exposure in the crypto-verse.

Surprisingly, the African continent has proven to be very crypto-friendly, which is why the adoption level has been growing in the region.

As of now, the African population’s adoption of cryptocurrencies comprises 16.5% of the overall adoption of cryptocurrencies throughout the world.

This is not the maximum level that Africa is expected to hit in terms of cryptocurrency adoption. The figure has been growing higher and over time, its contribution may rise over 20% and even higher going forward.

Survey Results Favor Nigeria

In Africa, the overall cryptocurrency investors are 53 million and out of the total investors, 22 million investors are from Nigeria. This means that Nigeria alone makes up for a high portion of crypto adoption in the continent.

The information has been confirmed through one of the surveys that were carried out on the entire African continent. It has been shown that the majority of the cryptocurrency investors in the region are from Nigeria.

The 22 million Nigerians account for more than a third of the African population that has invested in cryptocurrencies.

Triple A Carried out the Survey

The survey was carried out by one of the major cryptocurrency firms “Triple A”. The firm conducted a survey among the population of Africa to reveal some very interesting facts about crypto adoption in the region.

The survey has revealed that the overall cryptocurrency investment community all over the world is over 320 million. Out of 320 million, 16.5% million cryptocurrency investors are from Africa, making it 53 million in total.

Out of the 53 million investors, more than 22 million investors are from Nigeria, which is a large figure.

Country-Wise Crypto Adoption

The data collected by Triple has shown the crypto adoption rate in other countries as well. It has shown that the country with the highest crypto adoption rate (46 million) is the United States.

The second and third largest countries in terms of crypto adoption are India and Pakistan. In India, more than 27.4 million investors have invested in cryptocurrencies while 26.4 million crypto investors are from Pakistan.

A look at the adoption rate from all over the world shows that Nigeria has the fourth-highest adoption rate for cryptocurrencies.

For the Nigerians, it is a huge achievement because the country has the ability to bring huge changes to the world of cryptocurrencies. In Nigeria, the crypto adoption rate is much faster than in most countries, which would give the crypto-verse a great push.