Nigerians Lead in Bitcoin Adoption, Trust, and Daily Usage, New Report Reveals

A groundbreaking report by Elastos, a blockchain website, has revealed that Nigeria is at the forefront of Bitcoin adoption, trust, and daily usage.

The report, which surveyed 1,407 tech-savvy individuals across seven countries, including Nigeria, Brazil, Germany, South Korea, UAE, UK, and the US, shows that 20% of Nigerians use Bitcoin for daily financial transactions.

The report, titled the BIT Index (Bitcoin; Innovation & Trust), highlights the significant role emerging markets like Nigeria play in understanding, using, and trusting Bitcoin. Nigeria’s daily usage levels surpass established markets like Germany (8%) and the UK (9%).

Moreover, the report reveals that 67% of Nigerians trust Bitcoin more than banks and local governments when it comes to safeguarding their life savings. This confidence in Bitcoin is also reflected in ensuring the integrity of online transactions, with 66% of Nigerian respondents preferring Bitcoin-based systems over alternatives.

The report’s findings suggest that emerging markets like Nigeria, Brazil (35%), and the UAE (32%) are leading the way in embracing Bitcoin, while established markets like the UK (20%) and Germany (22%) lag behind. This trend indicates a significant shift in trust and adoption, with emerging markets driving the future of cryptocurrency.
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