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Cryptocurrency

Binance Reveals Shocking Relationship Between Nigeria and Cryptocurrency

Binance Reveals Shocking Relationship Between Nigeria and Cryptocurrency

  • A report from crypto exchange Binance has revealed that Nigeria is the world’s number one country in crypto adoption
  • Statistic platform Statista has reported that Nigeria has a crypto adoption rate of 32%, far more than any other country in the world
  • Nigeria is followed by Vietnam with 21% adoption, Philippines (20%), while Turkey and Peru have an adoption rate of 16% each

The world’s largest cryptocurrency platform Binance has disclosed that the interest of Nigerians in the crypto market keeps growing.

The crypto platform released a report titled “The World Goes Crypto: Top 5 Countries Adopting Crypto and How BUSD Helps, ” and it shows that Nigeria has the greatest Crypto adoption rate of any country in the world.

Binance revealed that the rankings were based on a survey carried out by Statista, a survey and statistics platform.

Almost 1/3 of surveyed Nigerians have used cryptocurrency at least once in their life, which puts the African country’s adoption rate at 32%.

Nigeria is followed by Vietnam, the Asian country has an adoption rate of 21%. Another Asian country Philippines closely follows with 20% adoption.

The top five is completed by Turkey and Peru, both countries having an adoption rate of 16%.

Read also: Lionel Messi Becomes First Footballer to Receive Cryptocurrency in his Contract

The survey was carried out in selected countries and users were asked about their use of cryptocurrency.

According to Binance’s report, more than 300 million people worldwide have used cryptocurrency at some point in their lives.

The report also pointed out that crypto adoption is in its early stages since only 3.8% of the world’s total population use digital currencies at the moment.

Binance

Adopters of cryptocurrency at this point will be regarded as innovators because they are among the first to try out the new technology.

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