CoinGecko: Nigeria is the world’s most crypto-curious nation

August 14, 2022

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According to the crypto price tracker CoinGecko, the industry’s tendencies have changed as a result of this year’s fall in the market for digital assets. Nigeria has emerged as the country with the greatest interest in cryptocurrencies worldwide, according to the company’s study.

Other recent studies reveal that Nigerians’ interest in digital currencies is being fueled by their country’s ongoing monetary crisis and limited access to financial services.

Nigeria (with a score of 371) was found to be the country with the highest level of crypto curiosity by CoinGecko, which looked at a number of variables, including Google searches that include the terms “buy crypto” or “invest in crypto.” United Arab Emirates (UAE) holds the second spot, and Singapore is third. Bobby Ong, the co-founder of CoinGecko, commented on the results by stating:

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“This study provides interesting insight into which countries remain most interested in cryptocurrency in spite of market pullbacks.”

He went on to say that those who live in the top-ranked nations tend to “buy the dip” and have primarily invested in digital assets over the long run.

Nigeria shows massive interest in the crypto industry

Many citizens in Nigeria have already become HODLers, in addition to displaying a great deal of interest in the industry. According to a KuCoin study, 33.4 million adults in the nation, or 35% of the adult population, had recently owned or traded digital assets. Additionally, 52% of people have invested more than half of their whole wealth in this asset class.

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Nigeria didn’t place among the top 10 most crypto-ready countries despite its interest in the digital asset sector. With a score of 8.6 out of 10, Hong Kong ranks first in that category. Switzerland and the United States of America come in second and third, respectively, as TheCoinRise reported.

Despite many saying that Nigeria’s CBDC will not succeed, the country is working hard to bring eNaira, after getting approval from the Federal High Court.