90M Traders: Nigeria Tops List of Countries With Highest Population of Cryptocurrency Users, Owners
- A new report has provided a breakdown of the leading countries with the highest number of cryptocurrency traders in the world
- This is despite the Central Bank of Nigeria's ban on the use of cryptocurrency for transactions within the country
- Nigeria is at the top of the list beating the likes of India, South Africa, The Philippines, and Turkey among others
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Nigeria leads the world in the usage and ownership of cryptocurrency according to a new crypto industry research report Trading Browser.
The study ranks countries based on the percentage of the population that reported that they used or owned cryptocurrency each year from 2019 to 2022.
Details from the report show that Nigeria tops the list with 45% of the population using or owning cryptocurrency in 2022.
What the report says about Nigeria
The report surprisingly said over 90 million people in Nigeria are using cryptocurrency, which is almost 1.5 times the population of the United Kingdom.
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It also noted that from 2019 to 2022, the number of crypto users increased by 17% while the increase in ownership jumped from 28% to 45%, equal to over 34 million people adopting cryptocurrency over the three years.
List of countries with the highest number of crypto users in the world
Thailand with 44% is the next country with a significant number of adoptions, while Turkey ranks third with 40% of its population owning and using cryptocurrency in 2022.
Other countries in the top 10 are Argentina, which comes in fourth with an ownership and usage rate of 35% in 2022 – almost 16 million people.
In fifth place comes the United Arab Emirates (UAE) with 34% of the population owning or using cryptocurrency in 2022.
The Philippines is in sixth place with 29% (15 million), and Vietnam is in seventh place with 27% of the population.
India and Singapore are in joint eighth place with a rate of 25% of the population, while in ninth place is Brazil with 24%.
Last place in the top ten in South Africa with a usage and ownership ship of 23%, working out to over 13 million people.
19-year-old crypto trader says he made N3m in hours, lost everything next day
Meanwhile, in another report, a 19-Year-Old Nigerian has shared how he became a millionaire by investing in cryptocurrency
However, he said his newfound wealth only lasted for 24 hours and he lost everything when the coin crashed
His story bears resemblance to another crypto billionaire who lost every he had in five minutes