Very few positive news have greeted the global cryptocurrency market in recent times, but Nigerians are not letting that deter them from participating in the market.
A new survey released by Luno shows that 65 per cent of over 1000 respondents in the country said they were familiar with cryptocurrencies. 54 per cent of that group are women.
Luno is a platform that enables users buy and sell cryptocurrencies like bitcoin and Ethereum. The company currently has offices in 40 countries and has recently announced it will be opening markets in Africa.
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According to Owenize Odia, country manager of the company in Nigeria, the goal of the survey was to get a better understanding of how Nigerians were using cryptocurrencies and also gain a sense of the level of education of the average crypto customer.
The company is one of the platforms that have invested significantly in educating their users using the Luno Learning Portal.
“When people are better informed of the market they make informed decisions,” Odia once told BusinessDay.
The survey showed that 48.09 per cent of the respondents who do not currently own cryptocurrency indicated willingness to buy in the near future. Notably, female respondents edged this group at 51 per cent. The willingness to buy paired with the 38 per cent of respondents who said they already own cryptocurrency.
“This encourages us in our mission to upgrade the world to a better financial system by providing safe and convenient products for Nigerians to buy Bitcoin and Ethereum,” Odia said in a note.
Bitcoin has the highest number of awareness from respondents. Over 80 per cent of those who own cryptocurrencies said they own bitcoin specifically. Ethereum, Bitcoin Cash, and Litecoing are a distant second, third and fourth at 30 per cent, 23 per cent, and 22 per cent respectively.
