<![CDATA[<figure class="image"><img src="https://cimg.co/news/124084/327758/adobestock-faraz-1-media-.jpeg" srcset="https://cimg.co/news/124084/327758/responsive-images/adobestock-faraz-1-media-___media_library_original_1200_801.jpeg 1200w, https://cimg.co/news/124084/327758/responsive-images/adobestock-faraz-1-media-___media_library_original_900_601.jpeg 900w, https://cimg.co/news/124084/327758/responsive-images/adobestock-faraz-1-media-___media_library_original_720_481.jpeg 720w, https://cimg.co/news/124084/327758/responsive-images/adobestock-faraz-1-media-___media_library_original_600_401.jpeg 600w, https://cimg.co/news/124084/327758/responsive-images/adobestock-faraz-1-media-___media_library_original_300_200.jpeg 300w" width="1200" class="content-img" alt=""><figcaption>Source: AdobeStock / Faraz</figcaption></figure>A recent survey shows Nigeria as the most crypto-savvy nation ahead of the United States and European countries.According to a new <a href="https://consensys.io/blog/whats-the-most-crypto-savvy-country-in-the-world-hint-its-not-the-usa">report</a> from YouGov and ConsenSys, Nigeria&rsquo;s crypto awareness stands at 99% as the country leads in digital asset knowledge and perceived investment drive.15,158 survey participants aged 18- 65 were polled from 15 countries to determine the global acceptance of Web3 and how its utility and &ldquo;technicalities&rdquo; have been broken down to give a clearer insight into the future.<img src="https://cimg.co/news/124084/327759/051859cc-d6f7-44da-b7df-0.webp" srcset="https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_1669_989.webp 1669w, https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_1200_711.webp 1200w, https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_900_533.webp 900w, https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_720_427.webp 720w, https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_600_356.webp 600w, https://cimg.co/news/124084/327759/responsive-images/051859cc-d6f7-44da-b7df-0___media_library_original_300_178.webp 300w" width="1669" class="content-img" alt="">Per the data, 99% were fully aware of cryptocurrencies while 70% understood the value, operations, and fundamentals of blockchain technology.&nbsp;Nigerian participants (1,001) also view digital asset investments as viable with 90% considering such investments over the next 12 months despite the country&rsquo;s top bank's uncertain crypto stance.The majority of Nigerians have turned to cryptocurrency as a hedge against inflation in recent years after a poor performance of the naira coupled with double-digit inflation.&nbsp;65% of participants viewed virtual currencies like&nbsp; Bitcoin (BTC) and stablecoins as tools against a weakening local currency. On regulation, 50% of participants want the government to provide clarity in the industry with new rules amongst others while 40% called for more laws to protect investors.&nbsp;On ownership, 76% of Nigeria participants own or previously held top assets like Bitcoin (<a href="https://cryptonews.com/coins/bitcoin/">BTC</a>), Ethereum (<a href="https://cryptonews.com/coins/ethereum/">ETH</a>), USD Tether (<a href="https://cryptonews.com/coins/tether/">USDT</a>), Litecoin (<a href="https://cryptonews.com/coins/litecoin/">LTC</a>), etc.&nbsp;Globally, both crypto awareness and adoption seem to have surged over the last 12 months. While 78% of Nigerians were blockchain-savvy, South Korea indicated 63% with South Africa at 61%. Brazil and India recorded 59% and 56% respectively.&nbsp;<h2 id="the-future-of-web3-in-safe-hands">The future of web3 in safe hands</h2>Overall, the survey indicates a positive perception of the digital asset market and related technologies amidst harsh market conditions.Despite the <a href="https://cryptonews.com/news/crypto-prices-crash-as-ftx-crypto-exchange-collapses-what-we-know-so-far.htm">collapse</a> of FTX and the Terra network last year which wiped off billions from the market cap, 8% of respondents viewed cryptocurrencies as related to scams while 31% viewed it as the future of money and an alternative to traditional finance.&nbsp;Over 50% of global respondents also view recent bankruptcy declarations by firms as market-induced without affecting their overall trust in the sector.In the United States, over 50% have a clear understanding of digital assets while a similar percentage has owned assets in the past with 43% on course to invest in the industry over the next 12 months.&nbsp;Figures were slightly lower in Germany with 40% having explicit knowledge of the sector with 14% as previous owners while 16% currently own digital assets.&nbsp;Nigeria&rsquo;s high numbers come against harsh positions from the government and an uncertain regulatory framework.&nbsp;In 2021, the Central Government of Nigeria prohibited digital asset ownership citing investor protection concerns with the previous government issuing harsh statements on the market before <a href="https://cryptonews.com/news/nigeria-launches-cbdc-amid-efforts-to-tighten-grip-over-crypto-market.htm">floating</a> its Central Bank Digital Currency (<a href="https://cryptonews.com/tags/cbdc/">CBDC</a>), the enaira.&nbsp;The recent amendment of the Financial Act (2023) recognizes virtual currencies as a taxable asset class leading to speculations on a potential change in regulatory approach.
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Nigeria Tops Global Crypto Data With 99% Awareness: ConsenSys Report

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