According to the latest Finder Cryptocurrency Adoption Index, as of October 2021, Nigeria had the highest cryptocurrency ownership rate in the world at 24.2%.
Bitcoin is the most popular coin in Nigeria
In addition to finding the West African nation as the country with the highest proportion of citizens who hold cryptocurrencies in the world, the survey also found that “of the 1 in 4 adults online in Nigeria who owns A form of cryptocurrency, bitcoin is the most popular coin in Nigeria for 66.5% of crypto owners. Alternatively, this means that more than half of the 24.2% of Nigerian respondents who own cryptocurrency are in fact holders of bitcoins.
On the other hand, survey results suggest Ethereum (ETH) is the second most popular coin among Nigerian cryptocurrency holders, at 23.8%. Despite this seemingly high interest rate for ETH, the ratio of Nigerians holding the cryptocurrency to other countries is still lower, survey data suggests.
In fact, according to the survey, ETH’s 23.8% ownership rate is only enough to place Nigeria in 15th place out of a total of 22 countries.
Dogecoin in third place
Meanwhile, survey results show the coin meme, dogecoin, ranks third at 21.8%. This in turn is enough to see Nigeria in the top ten. The investigation report explains:
Dogecoin is the third most popular choice among crypto users in Nigeria, with 21.8% of adults who own crypto holding the coin. This makes it the 8th country on our list of 22 countries in terms of dogecoin possession among those who own crypto.
As for the makeup of cryptocurrency owners in Nigeria, the survey found that 62.9% of Nigerian cryptocurrency owners were men, while women made up the rest.
In other words, this disparity between the number of men and women owning crypto means that men are 1.7 times more likely to own crypto. With a global average figure of 1.5, that means Nigeria has the 11th highest male dominance of 22 countries.
Do you agree with the conclusions of this investigation? Let us know what you think in the comments section below.
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