Nigeria, the largest economy in Africa, has emerged as the global leader in cryptocurrency awareness, according to a comprehensive global survey conducted across 15 countries.
ConsenSys and YouGov have jointly unveiled the findings of the Global Web3 Awareness Survey, which aimed to gauge perceptions of cryptocurrencies and the broader Web3 ecosystem across different nations.
An important revelation from this survey's data is that two African nations stand out for their remarkable cryptocurrency awareness levels. An astounding 99% of Nigerians and 98% of South Africans have shown greater awareness of Web3 compared to major economies like the UK, US, Japan , and Germany. This extensive survey encompassed 15,158 individuals aged 18 to 65 living in these 15 countries. Among the Nigerian respondents, a significant 70% claimed to have a grasp of the fundamental concepts of blockchain technology.
This deep understanding of the cryptocurrency space in Nigeria is mirrored in the rate of cryptocurrency ownership among its populace. Among the 1,001 Nigerian users, a staggering 76% reported owning or having owned cryptocurrencies. Bitcoin and Ethereum were the most prevalent choices, while Binance Coin (BNB) and Dogecoin ranked higher than Tether, the world's largest stablecoin. Notably, 90% of Nigerian participants expressed interest in investing in cryptocurrencies over the next year, with 65% viewing cryptocurrencies as a safeguard against hyperin flation and currency devaluation.
Despite the Central Bank of Nigeria severing the link between cryptocurrency exchanges, local banks, and businesses in February 2021, 50% of respondents believe that regulators should establish laws that both encourage participation and protect investors. ConsenS ys has disseminated data and insights from all 15 countries surveyed. In the case of the United States, 95% of respondents professed awareness of cryptocurrencies, but only 42% claimed to possess a clear understanding of the industry. Interestingly, just half of the US participants reported owning or having owned cryptocurrencies,
