Nigeria gets top spot as the most crypto-curious country in the world according to the crypto price tacker CoinGecko. It said that the industry’s tendencies have altered as a result of this year’s fall in the market for digital assets. Nigeria has emerged as the country with the most interest in cryptocurrencies worldwide, according to the company’s study.
According to other recent studies, Nigerians’ interest in digital currencies is being stoked by their country’s ongoing monetary crisis and limited access to financial services.
Nigeria Gets Top Spot
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 in third. Bobby Ong, co-founder of CoinGecko, commented on the outcomes as follows:
“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 mostly invested in digital assets over the long run.
Ethereum has gained traction in recent months as a result of its anticipated switch from a Proof-of-Work to a Proof-of-Stake consensus method. Singapore appears to have the highest level of interest in the network, although Georgians tend to prefer Solana.
Many Nigerians have already become HODLers in addition to displaying a great deal of interest in the business. According to a KuCoin research, 33.4 million adults in the nation, or 35% of the adult population, had recently owned or exchanged cryptocurrencies. Additionally, 52% of people have invested more than half of their whole fortune in this asset class.
The fact that the most populous nation in Africa has limited access to financial services may be a major factor in entering the market, according to KuCoin. Nigeria, a financial center in the western portion of the continent, lacks banking and fiat-based options in its vast rural areas.
Another reason is the nation’s economic woes. The monthly inflation rate keeps going up and is presently over 18%. It follows that it is understandable why some residents chose to diversify their investment portfolios with cryptocurrency.
Check out today’s news.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]