According to Cointelegraph, a global survey conducted by Consensys and YouGov has found that Nigeria has the most cryptocurrency-aware population in the world. The survey, which included respondents from 15 countries, aimed to provide insights into the perception of cryptocurrencies and the wider Web3 ecosystem in different nations.

The data revealed that two African countries, Nigeria (99%) and South Africa (98%), ranked highest in cryptocurrency awareness, surpassing major economies such as Great Britain, the United States, Japan, and Germany. The survey included 15,158 individuals aged between 18 and 65 living in 15 different countries.

In Nigeria, 99% of respondents indicated that they were aware of cryptocurrencies, while 70% said they understood the fundamental concepts of blockchain technology. Among the 1,001 Nigerian respondents, 76% either owned or previously held cryptocurrencies, with Bitcoin and Ethereum being the most commonly owned.

Despite the Nigerian Central Bank cutting off ties between cryptocurrency exchanges and local banks in February 2021, 90% of Nigerian respondents expressed interest in investing in cryptocurrencies in the next year. Additionally, 65% noted that cryptocurrency offered a means to hedge against hyperinflation and monetary devaluation. Half of the respondents indicated that regulators should create laws that encourage participation while protecting investors.