Nigeria Takes the Highest Bitcoin Optimism Levels at 60%, Survey Reads

Since knowledge feeds optimism and participation, Nigeria emerged as the top nation with the highest rates of optimism about Bitcoin’s future at 60%, according to a study by Jack Dorsey-owned Block, Inc.

Other nations with high Bitcoin (BTC) optimism levels are India, Vietnam, Argentina, and South Africa, recording 58%, 56%, 55%, and 52%, respectively. 


Source: Block, Inc.

Regarding crypto awareness, Bitcoin was twice as known at 88% compared to Ethereum at 43%. Dogecoin (DOGE) was third at 31%. Per the report:

“Awareness of Bitcoin is higher than that of any other cryptocurrency globally — by far — with 88% of adults surveyed having heard of Bitcoin specifically.”

In terms of age groups, millennials and baby boomers led the pack with the highest BTC awareness levels. The study noted:

“Globally, millennials and baby boomers, in particular, have the highest levels of Bitcoin awareness at 92.5% and 89.2%, but all age cohorts have relatively high awareness.”

Most respondents acknowledged that BTC was a stepping stone towards a more equitable economy. 

On the other hand, the lack of Bitcoin knowledge was the biggest stumbling block to purchasing it. Per the report:

“41% of those who say they have fair to expert levels of cryptocurrency knowledge say they are very likely to purchase Bitcoin in the next 12 months, compared with just 7.9% of those with limited to no knowledge of the topic.”

Block, Inc., formerly Square, surveyed in conjunction with Wakefield Research between January 10 and 28 and interviewed more than 9,500 adults aged 18 and above in the three regions. 4,360 were from Europe, the Middle East, Africa (EMEA), 2,860 from Asia-Pacific (APAC), and 2,375 from the Americas.

Therefore, it doesn’t come as a surprise that Nigeria takes the lion’s share of Bitcoin optimism, given that 35% of Nigerians had entered the crypto space in a span of 6 months, according to a recent study by crypto exchange KuCoin. 

Image source: Shutterstock


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Nearly 67% of UAE Residents are Interested in Crypto Investments, Study Shows

In the next five years, 67% of residents in the United Arab Emirates (UAE) are interested in entering the crypto space, according to a survey by British market research and data analytics firm YouGov.

Based on the study that surveyed 20,000 respondents in eighteen markets, YouGov noted that consumers in the UAE and India had the highest trust in cryptocurrencies at 40%. 

In contrast, consumers in the western markets had a lower crypto trust rate. According to the report, only 6% of people in the United Kingdom, 9% in France, and 11% in Italy trusted cryptocurrencies. 

Nevertheless, the urge to trade cryptocurrencies is growing on Asian soil. Per the report:

“One in five consumers in the UAE (21%) also said they intend to trade in cryptocurrencies in the next 12 months, the highest globally after Indonesia (25%) and India (22%).”

Emma McInnes, the global sector head of financial services at YouGov, noted that the financial sector was experiencing rapid transformations, driven by broader industry fragmentation and changing consumer expectations.

She added:

“In the digital age of finance, the concept of money is continuously evolving. This has led to the creation of new financial assets like cryptocurrencies, which were once considered niche and short-lived, but now are becoming more mainstream.”

The majority of residents polled in the UAE were aged between 25 and 34 years at 74%. They were the most interested in crypto compared to consumers aged 45 and above.

Crypto-friendly approaches adopted in the UAE are triggering a paradigm shift because the nation’s interests are changing from oil to cryptocurrencies and the metaverse, among other blockchain innovations, Blockchain.News reported. For instance, Citizens School, a Dubai-based educational institution, recently accepted Bitcoin and Ethereum payments for tuition. 

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Bitcoin (BTC) $ 43,255.59 1.66%
Ethereum (ETH) $ 2,336.47 2.95%
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Bitcoin Cash (BCH) $ 245.79 1.51%