Data published past statistics business firm Statista has revealed Nigeria is the leading country per capita for Bitcoin and cryptocurrency adoption, with nearly ane in three survey respondents indicating they used or endemic crypto assets in 2020.

According to the survey, the pre-existing prevalence of mobile phone based peer-to-peer payments has led many Nigerians to explore cryptocurrency. Statista noted that many Nigeria responded they had recently installed crypto payment applications on their devices.

The findings also notation that many Nigerians are exploring crypto assets for international remittances.

Adoption in the land shows no signs of slowing, with demand for crypto assets booming amidst Africa'south largest population despite the Cardinal Depository financial institution of Nigeria enacting a ban on banks providing financial services to crypto exchanges in the by fortnight. On Feb. 17, Cointelegraph reported that BTC was trading at a 36% premium in Nigeria.

According to Google Trends, Nigeria likewise dominates search traffic for the keyword "Bitcoin".

Regional search traffic for "Bitcoin": Google Trends

Crypto adoption is also strengthening in South-Due east Asia, with 21% of Vietnamese and 20% of Filipino participants responding they had used crypto last year. Every bit in Nigeria, Statista attributes much of the Vietnamese and Filipino demand for crypto to remittances.

Notably, Vietnam ranks second past adoption despite its central bank refusing to recognize crypto avails as a legitimate means of payment. In May 2020, Vietnam's government established a enquiry group tasked with developing and scrutinizing policy proposals concerning digital currencies, suggesting the nation may soften its stance at some point in the futurity.

Turkey and Republic of peru were found to be the third and fourth-ranked nations for adoption, with 16% of respondents from each land directly engaging with crypto last year. Switzerland ranks 5th with 11%.

The findings were based on Statista's Global Consumer Survey, which queried respondents based in 74 countries.

Despite its highly permissive crypto regulations, Japanese respondents ranked as the lowest worldwide for digital asset adoption — tying with Denmark with but four%.