Emerging Markets Show Strong Crypto Adoption Trends Worldwide

• Emerging markets lead in crypto interest, with Nigeria at 93%, South Africa at 77%, and strong growth in Asia.
• Over 60% of Indonesian crypto investors are aged 18-30, driving adoption across Southeast Asia.

Part of a recent survey by Consensys and YouGov reveals a significant difference in crypto usage between emerging and established markets. Interest is growing in nations including Nigeria, South Africa, the Philippines, India, and Indonesia.

A strong desire to invest in cryptocurrencies was stated over the next year by 93% of respondents in Nigeria, 77% in South Africa, 59%, 58%, and 54% in the Philippines, India, and Indonesia, respectively. By contrast, just 15% in the UK and 41% in the US show comparable excitement, and interest in developed countries remains somewhat low.

The numbers are in!

Today, we published our 2nd annual Global Crypto and Web3 Survey conducted in partnership with @YouGov, spanning 18 countries and over 18,000 participants.

We have a few key insights to share highlighting major trends, insights, and opportunities for the… pic.twitter.com/bZrQjellFI

— Consensys (@Consensys) December 10, 2024

Regulatory Progress Bolsters Nigeria’s Crypto Innovation 

Nigeria’s cryptocurrency space has reached a significant milestone. Quidax, an African-based crypto exchange, recently secured a provisional operational license from the Securities and Exchange Commission (SEC) Nigeria.

This accomplishment represents a major forward in regulatory acceptance and control. Quidax can now run as a registered crypto exchange with this license, therefore confirming Nigeria’s importance in the global crypto space.

The SEC’s newest analysis valuing Nigeria’s crypto sector at over $400 million highlights the country’s dedication to creativity in digital finance. Emomotimi Agama, the Director General of SEC Nigeria, claims that the nation leads in the acceptance of virtual currencies, which reflects a rapid and continuous interest in the sector.

Indonesia and India Drive Crypto Adoption 

In the meantime, the young population of Indonesia is showing to be a major player in the local crypto market. According to data from the Commodity Futures Trading Regulatory Agency (Bappebti), over 60% of Indonesian crypto investors fall between the ages of 18 and 30.

This emphasizes how important young people are in appreciating and forward-leaning crypto acceptance. Per the Consensys and YouGov survey, Indonesia, one of the biggest markets in Southeast Asia, is also among the top five developing markets with strong demand in crypto investment.

Another big participant in the digital finance sector, India is rising globally in blockchain invention. As we previously noted, the nation has developed more than 1,000 Web3 startups since 2020, drawing $3 billion in capital.

With Web3 gaming alone predicted to produce $9.2 billion in revenue over the next five years, projections point to India leading global blockchain development by 2027.