Nigeria: Report Ranks Nigeria, Two Others Among Countries With Highest Number Of Crypto Traders

Not less than half of Nigeria’s adult population, or 56 percent trades in cryptocurrency every month.

This is according to data contained in a report published jointly by Morning Consult, Bloomberg, and the World Bank.

The report which studied cryptocurrency trading volumes in Nigeria, China, Turkey, and India said that India has the highest population of people trading in cryptocurrency.

The report observed that 900 million people, which is one in every seven adults, across the world use blockchain technology regularly.

It gave this figure at approximately 300 million people, representing 29 percent of India’s adult population.

The report also said that eight percent of China’s population trade in cryptocurrency, which is about 93 million adults.

Also, Turkey’s crypto trading population was pegged at about 54 percent.

Cryptocurrencies in these countries have grown in popularity among these countries despite limitations by regulations from some of these countries.

In Nigeria for instance, statistics show an increase in acceptance and trading volume despite the ban placed by the country’s Apex bank, the Central Bank of Nigeria (CBN).

In 2021, the CBN however introduced the eNaira, which is the second Central Bank Digital Currency (CBDC) developed in the world.