Nigeria ranks among the top bitcoin/crypto using countries in the world

[ZeroVinsonN]

So two days ago I saw an information on X, it was about a survey that ranked countries with the highest number of people that own/owned bitcoin which I created a thread about Re: Bitcoin ownership is far more common in El Salvador than in the U.S. and I was really surprised with how high Nigeria was ranked which led me to look up information online to confirm how likely the information was and to my suprise slot of other sources supported that statistics.

When it can go using bitcoin/crypto in general Nigeria always seems to rank somewhere around top 3 on the global level but this statistics is usually on crypto use and not crypto ownership since when it came to global crypto ownership Nigeria did not always rank as high but we seen to be transacting with crypto a lot more than alot of other countries.




Sources;
https://www.elibrary.imf.org/view/journals/002/2025/158/article-A002-en.xml
https://www.chainalysis.com/blog/crypto-scams-2026/
https://breet.io/blog/crypto-and-bitcoin-adoption-statistics-in-nigeria

[Nathrixxx]

It has been some time now that we have been leading among the countries adopting crypto and bitcoin, and at least some of these statistics have been available for some time. However, I'm still wondering why the country is not giving more support to the use of Bitcoin despite the increasing rate of adoption among its citizens. However, we are still looking forward to more fair and friendly regulations in the cryptocurrency aspect from the government and that's if they are going to consider what the people have decided to embrace under a decentralized economy.

[Agbamoni]

Is it not obvious that the statistics were made using p2p transactions, crypto activities, including forums and social media, and trading. These are activities that Nigerians associate themselves with so that they can earn and support themselves economically. On a regular day, Nigeria will not fall under the top 20 bitcoin/crypto users in the world. It dont doest no necessarily mean that Nigeria has the highest number of long-term investors or institutions holding Bitcoin. We are still far from real Bitcoin holders.

[Zigabel]

I think Nigerians mostly do not have the patience to Hold and that is why they rank more in transaction than Ownership, they are mostly retail investors and traders who are in for the short term and catching as much opportunity as they can just  to get profits and leave, most of them are not really interested in ownership but in that profits they can make within the short time it is in their possession, except for maybe institutions which may not be making it public, Holding isn't what most Nigerians really find interests in as it concerns Bitcoin and that's why they transact more than they own.

[IceLincoln]

So many factors are contributing to why we rank that high, we are a consumer economy and most of us who venture into crypto or bitcoin are either using it to receive money or to pay some. We have a few holders but we don’t have them in numbers and the amount they hold isn’t that much.
In a way we are driving adoption here just that the Government has not been favourable, once you see the government support or endorse bitcoin or crypto,… you’ll see proper adoption and new heights.

[Jubilee58]

The involvement of Nigerians in the cryptocurrency market including bitcoin is very high. This is a good development any way, and a sign that we are embracing Blockchain technology.
As cryptocurrency and Bitcoin investors, Nigerians are being faced with challenges which comes from Nigeria federal government, the support of the Nigerian federal government regarding Bitcoin and other cryptocurrency is still very weak and this singular reason still stand as a barrier to many Nigerian cryptocurrency investors.

From statistics and activities, it is obvious that Nigerians like cryptocurrency and Bitcoin investment, therefore the federal government should grant investors the Freedom to invest without fear and ensure growing adoption and participation in the cryptocurrency industry.

[DiMarxist]

This is a old news and I believe that there are similar threads like this on this local board. As Nigerian has been among those leading countries when it comes to crypto currency adoption in the world. This is due to the fact that Nigerians has come to understand the impact that crypto currency has especially Bitcoin. Crypto currency is one thing that the young population has seen as a viable means of not just a payment system but , as a source of income because, when it comes to Nigeria crypto is one place were Nigerian youths has resorted to as a way of escape.

[Tinubu]

Wow, Nigeria is big in bitcoin and crypto. This is the first time i am hearing of our progress. I have always thought bitcoin is not adopted by many nigerians except those who are opportuned.

In due time, more Nigerians we see reasons to accept bitcoin. Bitcoin is enough for everyone, nothing is of limitation to acquire  bitcoin, even if it is a fraction of it, little amount bought will sum into a substantial amount in the future.

[Smartvirus]

The studies you used dates back to 2021, a year after the Covid-19 when we had a serious boost in Bitcoin price. I was hoping you would present a data set that is more recent for us to know what’s the status of the studies as, a lot could have happened in 5 years and we’ve even had a Bitcoin cycle with the halving haven’t taken place, the bulls pumped price and at this time, the bears are dumping it.
Though Nigeria have being numbering amongst the top Bitcoin adopting nations of the world for sometime now, a more recent studies would do just to facts.

[Felicity_Tide]

Wow, Nigeria is big in bitcoin and crypto. This is the first time i am hearing of our progress. I have always thought bitcoin is not adopted by many nigerians except those who are opportuned.

In due time, more Nigerians we see reasons to accept bitcoin. Bitcoin is enough for everyone, nothing is of limitation to acquire  bitcoin, even if it is a fraction of it, little amount bought will sum into a substantial amount in the future.

I'm not exactly sure of how they came up that stats, but I have always believed that Nigeria is literally doing well and topping charts as far as crypto usage is concerned. In a country where a ban on cash has happened a couple of times, and where Citizens really appreciates a very flexible digital cash system, the turnout in crypto usage shouldn't be a surprise.

I think as time goes on, more people are definitely going to adopt, but I honestly doubt if there is a way that these analysts can keep track of the actual numbers of adopters.

[SatoPrincess]

Nigeria ranks 6th in the Chainalysis 2025 Global Crypto Adoption Index.
Nigeria Ranks Top 2 in Global Crypto (Bitcoin) Adoption 2024.

We already have existing threads on the topic. It would be better if there is a singular thread on the subject and it gets updated every year with the new data instead of starting a new one.

[Btcdeybodi]

I think Nigerians mostly do not have the patience to Hold and that is why they rank more in transaction than Ownership, they are mostly retail investors and traders who are in for the short term and catching as much opportunity as they can just  to get profits and leave, most of them are not really interested in ownership but in that profits they can make within the short time it is in their possession, except for maybe institutions which may not be making it public, Holding isn't what most Nigerians really find interests in as it concerns Bitcoin and that's why they transact more than they own.

How do you know that Nigerians don't have the patience to hold? if am holding will i come to inform you that am holding
Even if the statistics was driven by p2p transactions it doesn't mean that everyone is interested in trading with cryptocurrency. I know some persons around me who have been holding bitcoin for long now and even do DCA weekly. If you had said that the statistics of those who trade bitcoin is higher than those who are holding it for long term profits i will agree with that.

[Judith87403]

Steadily in ranking Nigeria is among the top countries for the usage of crypto, even when it is not always number one when it comes to ownership. Reports from groups such like Chainanalysis frequently place Nigeria high in volume of transaction and adoption from grassroots, but surveys by TrippleA reveals a solid ownership levels when compared to many larger economies.

The difference possibly comes from context. In Nigeria, crypto is much more practical. People make use of Bitcoin and stablecoins when it comes to remittances, payments for business, and as a hedge against volatility of naira. In nations like the U.S., ownership may be driven by investment. Therefore the strength of Nigeria seems to be real-world utility, not only holding for the purpose of speculation.

[ZeroVinsonN]

Nigeria ranks 6th in the Chainalysis 2025 Global Crypto Adoption Index.
Nigeria Ranks Top 2 in Global Crypto (Bitcoin) Adoption 2024.

We already have existing threads on the topic. It would be better if there is a singular thread on the subject and it gets updated every year with the new data instead of starting a new one.

I just noticed, so I'm going to lock the group now to prevent further discussion, anyone else who has anything to say concerning the topic can do so in the other thread, it's better for the conversation to be concentrated on one thread than to have multiple threads talking about the same thing.