That report found that the West African nation was in a league of its own with a score of 371, with the next country coming 100 points fewer at 271.
Now, according to the latest report by Merchant Machine, ‘by investigating the percentage of people who either owned or used cryptocurrencies over the past three years in 50 different countries, we were able to predict the percentage who would be using crypto over the next three years.’
From the analysis, we can see that Nigeria is predicted to have 100% of its population having used cryptocurrencies by 2030:
What this means according to the report is that ‘if crypto use continues to grow at its current rate, the entire population of Nigeria will be using cryptocurrencies!’
“The popularity of cryptocurrency could be explained by the country’s poor economy making alternative currencies appealing. The devaluation of Nigeria’s currency, the naira, will likely continue to drive more and more Nigerian natives to invest in cryptocurrency instead.” – Merchant Machine
Based on the figures, we can see that Nigeria’s rate of crypto usage will increase by 58% to get to 100% from the 2021 rate of 42%. This rate of increase is 4 times the global average of 14.9%.
Other than Nigeria, 3 other African countries also find themselves in the list of 50 nations analyzed by Merchant Machine with their predicted 2030 rates: