Nigeria and South East Asia led global crypto adoption in 2020

Nigeria and South East Asia led global crypto adoption in 2020

Data published by statistics firm Statista has revealed Nigeria is the leading country per capita for Bitcoin and cryptocurrency adoption, with nearly one in three survey respondents indicating they used or owned crypto assets in 2020.

According to the survey, the pre-existing prevalence of mobile phone based peer-to-peer payments has led many Nigerians to explore cryptocurrency. Statista noted that many Nigeria responded they had recently installed crypto payment applications on their devices.

The findings also note that many Nigerians are exploring crypto assets for international remittances.

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Adoption in the country shows no signs of slowing, with demand for crypto assets booming among Africa’s largest population despite the Central Bank of Nigeria enacting a ban on banks providing financial services to crypto exchanges in the past fortnight. On Feb. 17, Cointelegraph reported that BTC was trading at a 36% premium in Nigeria.

According to Google Trends, Nigeria also dominates search traffic for the keyword “Bitcoin”.

Regional search traffic for “Bitcoin”:

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