Nigeria Ranks Highest for Cryptocurrency Adoption: Finder Report

Updated:

According to a new report from Finder Cryptocurrency Adoption Index, in October, Nigeria topped the rankings of highest cryptocurrency ownership globally, at 24.2%.

In addition to having the highest proportion of crypto ownership by citizens globally, the report also revealed that “of the 1 in 4 online adults in Nigeria who own some form of cryptocurrency, bitcoin is the most popular coin in Nigeria at 66.5% of crypto owners.” This means that more than half of the respondents that held crypto owned Bitcoin (BTC).

Meanwhile, the study showed that Ethereum (ETH) claims the number two spot as favorite coins for Nigerian holders, at 23.8%. Despite the high level of interest for Ethereum globally, the number of Nigerians holding it suggests that they do not fancy it much. The survey noted that the 23.8% ETH ownership puts the most populous African nation at number 15 out of 22 countries.

Furthermore, the study revealed that Dogecoin (DOGE) is the third most common coin owned by citizens of the West African nation, at 21.8%. This number puts Nigeria in the top ten ranking in terms of Dogecoin ownership among countries. The survey explained that:

“Dogecoin is the third most popular choice with crypto adopters in Nigeria, with 21.8% of adults who own crypto holding the coin. This makes it the 8th ranked country in our list of 22 countries in terms of Dogecoin ownership among those that own crypto.”

Men 1.7 Times More Likely to Own Crypto Than Women in Nigeria

Interestingly, the study found that 62.9% of cryptocurrency holders in Nigeria are men, while women account for the rest, 37.1%. This means that men are 1.7 times more likely to own crypto than women. With the global average gender disparity at 1.5, Nigeria has the 11th highest male dominance out of the 22 countries.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.