Nigeria ranks ahead of U.S., others in crypto ownership. Bitcoin remains hot favorite. 🚨 This article is 3 years old...
Nigeria ranks ahead of U.S., others in crypto ownership. Bitcoin remains hot favorite.
Over 50% of crypto holders in Nigeria are in fact Bitcoin hodlers according to a research by Finders
2 min read
Updated: Mar. 1, 2024 at 4:29 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In a finding that has returned conversation about the growth of crypto adoption in Nigeria, the country has been ranked as having the highest rate of crypto ownership globally.
This figure became public thanks to the research of Finder Cryptocurrency Adoption Index, which disclosed that 24.2% of Nigerians invest in at least one digital asset.
Nigerians love BTC
A further breakdown of the finding indicates that aside from being the country with the highest proportion of citizens that hold cryptocurrencies globally, crypto users in the sub-saharan African country are mostly interested in Bitcoin.
Per the report, Bitcoin remains the most popular crypto token in the country as over 60% of the respondents own the asset. What this implies is that over half of the respondents who claim to own crypto are in fact BTC holders.
Following at number two on the list of the most preferred cryptocurrencies in the country is ethereum (ETH) with 23.8% of them claiming to hold the second-largest crypto asset by market cap.
An interesting find of this research is that despite this high level of interest in ETH, Nigerians would be ranked as 15th if their ratio of ownership is compared to that of other countries on the list.
Doge is also a preferred asset
The popular meme coin, Dogecoin, is the third most preferred asset amongst Nigerian crypto holders.
“Dogecoin is the third most popular choice with crypto adopters in Nigeria, with 21.8% of adults who own crypto holding the coin. This makes it the 8th ranked country in our list of 22 countries in terms of dogecoin ownership among those that own crypto,” the report reads in part.
The report continues that men are more likely to own crypto in Nigeria than women as “roughly 30.4% of men in Nigeria say they hold crypto compared to 17.9% of women.”
You’ll recall that we previously reported on how Nigeria dominates crypto adoption and trading in West Africa and Africa at large.
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
