More Than a Third of Africa’s 53 Million Crypto Owners Are From Nigeria, Study Shows – Africa Bitcoin News

According to a new study, Africa accounts for 16.5%, or 53 million, of all global crypto owners. The study findings suggest that Nigeria, which has more than 22 million crypto owners, currently accounts for more than a third of the continent’s total number of holders.

Nigeria Accounts for Over a Third of Africa’s Crypto Owners

According to Triple A’s latest crypto ownership data, the African continent now has an estimated 53 million cryptocurrency owners. The global average of 320 millions crypto owners is approximately 16.5%. Nigeria is home to more than three quarters of crypto owners in Africa. This amounts to just above 22 million.

The fourth largest number of cryptocurrency owners globally is Nigeria, followed by the United States with 46 million holders. Data shows India and Pakistan, which have 26.4 million and 27.4 million respectively, are next in line.

Nigerian Bitcoin and Crypto Internet searches the highest globally

While Nigeria is ranked fourth in terms of crypto ownership, the country is nonetheless seen as the world leader when it comes to the “number of people searching for ‘bitcoin’ and ‘crypto’ keywords on Google.” These findings are seemingly backed by the findings of another study, which suggested that Nigeria is the country most obsessed with cryptocurrencies.

Meanwhile, Triple A’s data shows that South Africa is the African country with the next highest population of cryptocurrency holders at 7.7 million. This figure constitutes nearly 12.5% of South Africa’s population. Kenya has the third largest population of crypto owners in Africa, with 6.1 million or 11.6% of the country’s population.

Completing Africa’s top five countries with the highest number of crypto owners are Eygpt and Tanzania which have 2.37 million and 2.32 million holders respectively. Seychelles is Africa’s lowest-ranked country with 1,257 crypto holders.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.