With cryptocurrencies being one of the world’s sweeping technological innovations, Nigeria takes the lead in terms of cryptocurrency ownership, according to the Statista Global Consumer Survey.

According to the report:

“Nigeria leads the world in cryptocurrency ownership, with 45% of the population, or nearly one in two people, using or owning cryptocurrency.”

The survey interviewed consumers from countries in South America, Asia and Africa. The study added:

“Thailand came in second place, with 44% of the population having used or owned cryptocurrencies in the past two years. Turkey follows with 40%, and Argentina and the United Arab Emirates complete the top five list, with 35% and 34%, respectively.”

Although cryptocurrency owners in the United States are three times higher than those in Nigeria, this represents 16% of the total population. As a result, the US ranks 25th in terms of cryptocurrency ownership.

On the other hand, India has 134 million crypto users, which is the highest globally. Statista recently estimated that there were 257.2 million cryptocurrency users worldwide, representing 3.2% of the global population. This figure is expected to jump to 293.6 million in 2023.

Nigeria has been gaining the spotlight in crypto due to the trends that are being witnessed.

For example, a study by Jack Dorsey-owned Block, Inc. revealed that the nation took the helm regarding Bitcoin optimism levels at 60%, reported Blockchain.News.

Furthermore, a KuCoin study showed that high inflation rates and a lack of affordable financial services fueled the adoption of cryptocurrencies on Nigerian soil.

KuCoin’s survey suggested that cryptocurrencies were filling the gap in the traditional currency-based market because Nigerians were using them as an alternative to store and transfer assets.

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