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Nigeria in top 20 crypto adoption countries

Nigeria in top 20 crypto adoption countries

Nigeria is ranked in the top 20 countries that is adopting crypto services. Meanwhile, India is now the fourth ranked country on the global crypto adoption list that is compiled by Chainalysis, a blockchain research company.

The list is compiled based on how much countries use various cryptocurrency services and rank them in something known officially as Global Crypto Adoption Index. 2022’s index shows that India has just one-upped the US to number four.

According to Gadgets 360 report, the leading nation on the index is Vietnam. It is really adopting crypto services, at least when its population of nearly 100 million is factored in.

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Philippines and Ukraine are ranked second and third on the index. Speaking about the reason for compiling the list, the research firm said:

“The goal of our index is to measure where the most people are putting the biggest share of their money into cryptocurrency. While institutional activity is important to that, we also want to highlight the countries where individual, non-professional investors are embracing digital assets the most.”

The news of crypto adoption is encouraging as the digital currency faces an all-round uphill climb back out of the hole it found itself in this year.

Other countries on the list include; Pakistan, Morocco, Nepal, Kenya, Indonesia, Brazil, Thailand, Russia, China, Turkey, Argentina, Colombia, and Ecuador.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.