More than 1/3 of Africa’s 53 Million Crypto Owners are from Nigeria

An ecosystem is described as a “complex group of creatures whose habitat works as one entire ecological unit” in the Merriam-Webster dictionary. The Bitcoin ecosystem is a young but promising network of peer-to-peer and traditional Bitcoin exchange platforms, community educators, investors, core developers, entrepreneurs, and enthusiasts who are all working together to create an African Bitcoin standard. The most sophisticated use of a Bitcoin standard, in my opinion, is in Africa.

In Africa, mobile money has sparked a stunning transformation. This technological revolution has saved time for both businesses and customers because of its superiority.

The rate of crypto investment needs to rise for crypto corporations to firmly control the African crypto sector. In fact, Jack Dorsey, ex-CEO of Twitter, has expressed interest in making investments in the crypto market in Africa.

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

The African continent currently boasts of an estimated 53 million bitcoin owners, according to Triple A’s most recent data on cryptocurrency ownership. This accounts for around 16.5% of the estimated 320 million people worldwide. Over a third of all cryptocurrency owners in Africa—or just over 22 million—are from Nigeria.

Nigeria is fourth globally in terms of the number of cryptocurrency owners, while the United States tops the list with 46 million owners. India and Pakistan are the next-highest-ranked nations, with 27.4 million and 26.4 million crypto owners, respectively, according to the research.

Nigerian Bitcoin and Crypto Internet Searches: Highest Globally

Nigeria is ranked fourth in the world for cryptocurrency ownership, but it tops the list for “the number of people searching for bitcoin and cryptocurrency phrases on Google.” These conclusions appear to be supported by the results of another study, which found that Nigeria is the nation most interested in cryptocurrency.

With 7.7 million bitcoin owners, South Africa is the African nation with the second-highest population according to Triple A’s data. Approximately 12.5% of South Africa’s population is represented by this number. With 6.1 million users, or 11.6% of the total population, Kenya is the African nation with the third-highest percentage of cryptocurrency users.

Egypt and Tanzania, which each have 2.37 million and 2.32 million crypto owners, round out the top five African nations with the most crypto owners. The least-ranked African nation is Seychelles, with an estimated 1,257 crypto owners.

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