According to a recent report by Consensys, a leading blockchain and Web3 software company, Nigeria has become the global leader in cryptocurrency ownership and adoption.

The report, unveiled on Tuesday, highlights Nigeria’s significant progress in crypto awareness and usage.

Joseph Lubin, Co-Founder of Ethereum and CEO of Consensys, stated that crypto ownership in Nigeria and India continues to grow, with Nigeria maintaining its position at the forefront of global adoption.

The survey also underscores Nigerians’ growing concerns about data privacy and control.

It found that 92% of respondents desire greater control over their online identity, with many seeking a share of profits generated from their data.

Lubin noted the critical role of blockchain and decentralization in enhancing data management transparency and trust.

“The 2024 survey reveals that while barriers to investing in cryptocurrencies persist, they are significantly lower than last year,” he said.

The findings are based on a survey of over 18,000 individuals aged 18-65 across 18 countries, spanning Africa, the Americas, Asia, and Europe.
Consensys expanded the scope of this year’s study, building on its 2023 report, to reflect the evolving dynamics of the crypto and Web3 ecosystem amid improving market conditions.

The report emphasizes the rapid adoption of blockchain and Web3 technologies in emerging markets such as Nigeria, India, and South Africa, signaling a shift toward a decentralized and user-driven Internet future.