Nigerians Are More Crypto-Savvy than Americans, Women Outrank Men, With 100% Declaring Crypto Awareness

Nigerians top the crypto awareness ranking, with 99% men and 100% women declaring basic crypto knowledge. Most respondents globally share the wish to have more control over their data and privacy, aligning with web3 principles.

Crypto Web3 Nigeria

Americans have invested loads in the crypto industry, but they’re not the ones who top the list of the most crypto-savvy nations. According to a recent study from Consensys, it’s Nigerians who lead the pack when it comes to crypto awareness. As much as 99% of male respondents from this most populous African country declared having heard about crypto. Runner-ups include Brazil and South Africa (ZAF), both with 98% positive responses. The US ranked three percentage points above the global average with 95%.

Interestingly, Germany (89%) and Japan (83%), counted among the world’s leading economic powers, ranked in the bottom three along with Vietnam (87%). What’s even more stunning, Nigerian women surpass their male compatriots in crypto awareness, with all female respondents declaring at least basic crypto knowledge. For other countries, proportions look different, with more men being “in the know” or – more seldom – on par with women.

Crypto awareness ranking Nigeria

Overall, results provided by Consensys show high crypto awareness across fifteen countries included in the survey. However, more in-depth crypto knowledge is not common. Only 24% of respondents globally declared being familiar with the concept of web3 (results vary across age groups, though). Still, 50% of the surveyees said they not only had heard about cryptocurrencies but also understood what they were. The proportions were significantly higher in Nigeria (78%), South Korea (63%), South Africa (61%), Brazil (59%), and India (56%) than in Indonesia and Japan, with only about one-third admitting to more advanced crypto knowledge.

Even though the notion of web3 has not yet made it to the mainstream, data from Consensys shows that the time is ripe for advancing web3-related projects. According to the survey, 79% of the respondents want more control over their identity on the internet, which is one of the key principles of the decentralized economy. Additionally, 83% believe that data privacy is important, a concept also in line with web3 tenets. Last but not least, 67% believe they should own the things they make on the internet – say hello to web3 again.