The world’s top 10 crypto countries:

• Nigeria 32%

• Vietnam 21%

• Philippines 20%

• Turkey 16%

• Peru 16%

• Switzerland 11%

• India 9%

• China 7%

• U.S. 6%

• Germany 5%

• Japan 4%

Those numbers and are based on the Statista data, which combines 55 different research reports from Stastita Global Consumer Survey to identify the countries where Bitcoin is most popular and used in the population.

People from countries in Africa, Asia and South America are much more likely to own, use and interact with cryptocurrency than those in Europe, North America or Australia.

We want to have a closer look on one specific country that stands out: Nigeria. 33% of Nigerians are either owning or using Bitcoin. The fact, that Nigeria suffers a lot from poverty in combination with the fact, that crypto transactions are a cheaper solution (also for sending money across borders) could be an explanation for the popularity.

Also the culture of making payments with phones which is very likely in Nigeria and finally double-digit inflation is very common and cryptocurrencies like Bitcoin, which are capped to a finite number of coins, serve as a hedge against inflation.