Nigerians account for more than a third of Africa's 53 million cryptocurrency owners, a study reveals
August 31, 2022 7:05 AM
According to research, the African continent now represents 16.5% of the worldwide market, with an estimated 53 million bitcoin owners. Based on the study's findings, more than 22 million people own cryptocurrency, making up more than a third of all holders in the region.
More than a third of African cryptocurrency owners are from Nigeria
According to the most recent Triple A data on cryptocurrency ownership, the African continent now boasts an estimated 53 million bitcoin owners. This accounts for around 16.5% of the estimated 320 million people worldwide. More than 22 million, or more than one-third, of all cryptocurrency owners in Africa are from Nigeria.
The United States, which has 46 million cryptocurrency owners, is the top-ranked nation globally, with Nigeria having the fourth-highest number of crypto owners. According to the research, India and Pakistan are the next-highest-ranked nations, with 27.4 million and 26.4 million crypto owners, respectively.
Internet searches for Bitcoin and cryptocurrencies are most popular in Nigeria globally
Nigeria is ranked fourth in the world of cryptocurrency ownership, but it tops the list for "most number of individuals searching for bitcoin and cryptocurrency phrases on Google." These findings appear to be supported by the conclusions of another survey, which revealed that Nigeria is the country most preoccupied with cryptocurrency.
With 7.7 million bitcoin owners, South Africa is the African nation with the second-highest population, according to Triple A's data. Approximately 12.5% of South Africa's population is represented by this number. With 6.1 million users, or 11.6% of the total population, Kenya is the African nation with the third-highest percentage of cryptocurrency users.
Egypt and Tanzania, which each have 2.37 million and 2.32 million crypto owners, round out the top five African nations with the most crypto owners. The least-ranked African nation is Seychelles, with an estimated 1,257 crypto owners.