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Nigeria Dominates the World in Crypto Interest Despite Tumbling Prices, Says Latest 2022 CoinGecko Survey

According to a recent research shared with BitKE, Nigerians are the most crypto curious people worldwide according to the latest research by crypto price tracker, CoinGecko.

The research follows yet a recent report by Finder.com which revealed that Nigeria is among the top 20 countries globally with the highest NFT gaming adoption and the first in Africa.

Nigerians have searched more about cryptocurrencies than anyone else in the world since crypto prices began to plummet in April 2022.

Nigeria topped the list for its population having the highest search levels for the phrases:

  • Cryptocurrency
  • Invest in crypto
  • Bitcoin
  • Ethereum
  • Solana
  • Buy Crypto

Nigeria stood out for scoring more than 100 points for the terms:

  • Cryptocurrency
  • Buy crypto, and
  • Invest in crypto

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SEE ALSO: Nigeria Inflation Surges to Over 18% in June 2022 – The Highest in 5 Years

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Overall, the West African nation was found to be on a league of its own with a score of 371.

The second-rated nation was the United Arab Emirates with a score of 271.

This list of top 5 countries shows the massive difference in enthusiasm between Nigeira and the next the top nations on the list.

When it comes to Africa, after Nigeria you have to go down to number 15 on the list to find Kenya as the second ranked country on the continent.

Kenya’s score, based on the same 5 keywords was 143, coming after Trinidad and Tobago, Pakistan, Unites States, Ireland, and Cyprus.

People in Nigeria are reported to embrace cryptocurrencies, thanks to a local currency that has lost much of its value to the dollar in 2022, making it an unworthy store of value for many in the oil rich nation.

According to the latest statistics, the Naira was found to be trading at 670 Naira to the dollar.

While the government has had tough stance against cryptocurrencies since banning them in 2021, adoption continues to grow, even after the country became the first in Africa to roll out a CBDC.

Nigeria has since entered into a partnership with the Algorand blockchain to develop a national system for tokenizing intellectual property rights.

The Nigeria Stock Exchange also wants to adopt blockchain technology with the OTC securities exchange saying it seeks to launch a tokenized securities market in 2023.

A recent report by crypto tracker CoinGecko, also found that Nigerians are the most crypto curious people in the world since April 2022.

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RECOMMENDED READING: Nigerians Have the Highest Rate of Optimism at 60% About Bitcoin’s Future, Latest Survey Reveals

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