99% of Nigerians are crypto aware - Consensys report

A planetary survey featuring respondents from 15 countries indicates that Africa’s largest system Nigeria has the astir cryptocurrency-aware populace successful the world.

Consensys and YouGov released the findings from the planetary Web3 cognition survey, which sought to supply some macro and determination insights into the cognition that antithetic countries person towards cryptocurrencies and the wider Web3 ecosystem.

A cardinal takeaway from the information obtained from the qualitative survey was that 2 African nations fertile highest for consciousness of cryptocurrencies. This suggests that Nigerians (99%) and South Africans (98%) are much knowledgeable astir Web3 than large economies similar Great Britain, United States, Japan and Germany.

Source: Consensys/YouGov Global Web3 Participation Survey.

The survey included immoderate 15,158 individuals surviving successful 15 antithetic countries betwixt 18 and 65. Nigeria had 99% of respondents who indicated that they were alert of cryptocurrencies portion 70% said they understood the cardinal concepts of blockchain technology.

Nigeria’s cognition of the cryptocurrency assemblage is mirrored by its investedness. Of the 1,001 respondents from Nigeria, 76% either owned oregon antecedently held cryptocurrencies. Bitcoin and Ethereum were the astir commonly owned portion Binance Coin (BNB) and Dogecoin ranked higher than the usage of the world’s largest stablecoin Tether.

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90% of the Nigerian respondents expressed involvement successful investing successful cryptocurrencies successful the adjacent year, portion 65% noted that cryptocurrency offered a means to hedge against hyperinflation monetary devaluation.

Considering that the Nigerian Central Bank chopped disconnected ties betwixt cryptocurrency exchanges and firms and section banks successful Feb. 2021, 50% of respondents indicated that regulators should make laws that promote information portion protecting investors.

Source: Consensys/YouGov Global Web3 Participation Survey.

Consensys has published information and insights relating to each 15 countries that were surveyed. 95% of United States respondents were alert of crypto, portion 42% had heard of the assemblage but lacked a wide understanding. Only fractional of the American respondents indicated that they ain oregon owned cryptocurrencies.

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