A new survey conducted by ConsenSys and YouGov has unveiled some fascinating insights into the adoption of cryptocurrency. It highlights the significant role that Nigeria plays as a major driver in this global trend towards digital currencies. The survey, which encompassed 18 countries, clearly shows that emerging markets are at the forefront of crypto adoption, with Nigerians claiming the top position.

Investment Enthusiasm in Nigeria

An astonishing 93% of Nigerians express a strong willingness to invest in cryptocurrencies within the next year. This remarkable figure propels Nigeria to the top of the crypto investment excitement rankings, leaving other contenders like South Africa (77%), the Philippines (59%), and India (58%) far behind. Nigerians not only show a keen interest in investing but also possess a good understanding of crypto. As many as 77% of them claim to be well-versed in it, which is the highest rate among all the surveyed countries.

Desire for Data Control

One of the crucial factors driving crypto adoption in Nigeria is the desire for more control over personal data. With growing concerns about privacy and digital identity, an overwhelming 92% of Nigerians seek to have greater control over their online presence. Many believe that decentralization can bring about significant improvements in various aspects, ranging from banking to social media.

Contrast with the West

The survey also reveals a stark contrast between emerging markets and the Western countries. While crypto adoption is experiencing a boom in places like Nigeria and India, countries like the UK and Japan show relatively lower interest. In fact, the UK has the lowest rate at just 15%. This disparity highlights the unique position of emerging markets in embracing cryptocurrency.