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 <p>‘Crypto is becoming mainstream’ is a common assertion made by fin-tech proponents. The infamous bankruptcies of top firms in the industry in 2022 managed to garner the attention of people even in the traditional finance space. But do people really understand <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and its underlying blockchain technology? In this article, we will delve into the results of a recent ConsenSys survey to understand the mass awareness related to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.</p> 
 <p><strong>Also Read: U.S.’s First Futures Bitcoin ETF Reacts Ironically: Nullifies 7% Spike</strong></p> 
 <h3 class="wp-block-heading" id="h-crypto-awareness-highest-in-nigeria">Crypto Awareness Highest in Nigeria</h3> 
 <p>In general, there is a ”very high” level of awareness about crypto assets. Around 92% of respondents globally have heard about digital currencies. However, when it comes to the proportion of people who understand it, the number is significantly lower. ConsenSys’ survey pointed out that only 50% of respondents said that they had heard about crypto and also understood what it was.</p> 
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  <img decoding="async" width="832" height="454" src="https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp" alt="" class="wp-image-110147" srcset="https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 832w, https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 380w, https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 550w, https://cdn.thebittimes.com/images/2023/09/04/c55275e6df82f015cde3c573d071038a.webp 800w" sizes="(max-width: 832px) 100vw, 832px"> 
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    Source: ConsenSys 
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 <p>Crypto awareness was highest in <a rel="noopener noreferrer nofollow" title="Nigeria" href="https://thebittimes.com/tag/nigeria.html">Nigeria</a>, with 99% of males and 100% of females claiming that they had heard of this asset class. In fact, 78% of them affirmed that they were aware of how <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> functions. When it comes to investing in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, only 5% of the population is willing to do so. 57% of them claimed that they will ”definitely” invest in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> over the next 12 months, while 33% of them asserted that they will ”probably” invest.</p> 
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  <img decoding="async" width="689" height="121" src="https://cdn.thebittimes.com/images/2023/09/04/017dcf133797d1cd69006f4d6993b1b1.webp" alt="" class="wp-image-110146" srcset="https://cdn.thebittimes.com/images/2023/09/04/017dcf133797d1cd69006f4d6993b1b1.webp 689w, https://cdn.thebittimes.com/images/2023/09/04/017dcf133797d1cd69006f4d6993b1b1.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/017dcf133797d1cd69006f4d6993b1b1.webp 380w, https://cdn.thebittimes.com/images/2023/09/04/017dcf133797d1cd69006f4d6993b1b1.webp 550w" sizes="(max-width: 689px) 100vw, 689px"> 
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    Source: ConsenSys 
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 <p><strong>Also Read: Dogecoin Averages +24% in Asian Hours but -15% During US Hours</strong></p> 
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 <p>Diversifying the portfolio was the top reason why <a rel="noopener noreferrer nofollow" title="Nigeria" href="https://thebittimes.com/tag/nigeria.html">Nigeria</a>ns bought <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>. The instability of the local currency, the <a rel="noopener noreferrer nofollow" title="Nigeria" href="https://thebittimes.com/tag/nigeria.html">Nigeria</a>n Naira, was the next reason why citizens from this region found solace in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>. The people who bought <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> in the past or currently own them revealed that Bitcoin, Ethereum, Binance Coin, <a rel="noopener noreferrer nofollow" title="Dogecoin" href="https://thebittimes.com/tag/dogecoin.html">Dogecoin</a>, <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>, and Shiba Inu were the top-invested assets.</p> 
 <p>Furthermore, 6 out of 10 people in Nigeria heard about the bankruptcies of centralized crypto companies in 2022. 89% of the population believed that bankruptcies had an impact on people’s trust; nevertheless, a majority of them said that this impact was only ‘moderate.’ Improving security, transparency, and accountability were the best ways to restore confidence in the crypto sector, according to Nigerians.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp" alt="" class="wp-image-110141" srcset="https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 1024w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 380w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 550w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 800w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 1160w, https://cdn.thebittimes.com/images/2023/09/04/d469da500b4ae062156a047326b6fcf4.webp 1470w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Vecteezy 
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 <p><strong>Also Read: CBDCs: 130 Countries Controlling 98% GDP are Exploring e-Currencies</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>binance coin</li> 
  <li>bitcoin</li> 
  <li>crypto</li> 
  <li>Dogecoin</li> 
  <li>ethereum</li> 
  <li>Nigeria</li> 
  <li>shiba inu</li> 
  <li>Tether</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/99-nigerians-aware-about-crypto-90-ready-to-invest-tbt61387.html">https://thebittimes.com/99-nigerians-aware-about-crypto-90-ready-to-invest-tbt61387.html</a></p>

99% Nigerians 'Aware' About Crypto, 90% Ready to 'Invest'

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