Nigeria Leads in Cryptocurrency Global Ownership and Usage Ranking
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Business - News - February 7, 2023

Nigeria Leads in Cryptocurrency Global Ownership and Usage Ranking

Nigeria has been ranked as the leading country for cryptocurrency usage and ownership. This comes as a new study by Trading Browser released a list of countries with leading rates of crypto usage and ownership. Trading Browser is an online casino guide that offers a one-stop solution to cryptocurrency traders and investors. 

The new study revealed that Nigeria ranked highest on the list with 45% of its population. This percentage either used or owned cryptocurrency in 2022. The 45 per cent equals over 90 million people in the country. 

According to the study, Nigeria witnessed a 17% rise in crypto usage and ownership from 2019 to 2022. This development brings the growing popularity of cryptocurrency in Africa and Southeast Asia, to the fore. 

Cryptocurrency global usage and ownership ranking

After Nigeria, Thailand came second on the list with 44 per cent of its population. This percentage represents over 30 million people in the country. Thailand was followed by Turkey, which ranked third on the list. The study noted that about 40% of Turkey’s population used or owned cryptocurrency in 2022.

The fourth position was occupied by Argentina. Trading Browser revealed that 35% of Argentina’s population owned and made use of cryptocurrency in 2022. The United Arab Emirates(UAE) was also not left out of cryptocurrency ownership and usage. It came fifth in the ranking with 34% of its population owning and trading cryptocurrency.

The Philippines, Vietnam, India, Singapore, Brazil, and South Africa were countries ranked as the other five countries, within the top ten. Big countries like the United States and the United Kingdom occupied the 22nd and 50th positions on the list.

With this study, nations around the world, Nigeria especially, must begin to consider their regulations and laws on cryptocurrencies. They must prioritise establishing laws that will make the use of digital assets convenient for all. 

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