Nigeria Is Africa’s Largest Cryptocurrency Market, Despite The Restriction On Bank Transactions.
The largest economy in Africa and one of the world’s top adopters of cryptocurrencies is Nigeria. In reality, this country is where more over a third of all crypto owners in Africa are located.
In terms of ownership of crypto assets, Africa is lagging behind the rest of the globe. According to Triple A’s most recent cryptocurrency ownership data; 53 million people in the continent already possess digital currencies like Bitcoin and Ethereum, making up more than 16.5% of the over 320 million crypto owners worldwide.
Most proprietors of digital assets are from Nigeria. A third of the population of the continent in the country owns digital currency.
Nigeria is the fourth in the world according to Triple A’s rating of bitcoin owners. With 46 million owners, the United States tops the list, followed by India and Pakistan at the second and third slots, respectively; with 27.4 million and 26.4 million crypto owners.
Owners and traders of crypto assets are primarily by financial gain and remittance despite CBN’s crypto ban.