Consensys survey: Cryptocurrency has high penetration in emerging markets, Nigeria tops the list

Consensys has released its latest Web3 survey, conducted in conjunction with YouGuv. The survey further confirms the high penetration of cryptocurrencies in emerging markets, with Nigeria standing out, followed closely by South Africa. The five jurisdictions most likely to invest in cryptocurrencies in the next 12 months are Nigeria (93%), South Africa (77%), the Philippines (59%), India (58%), and Indonesia (54%). The least likely to buy are Europeans, Canadians, and Japanese. British respondents scored the lowest (15%), with the United States at 41%, between Brazil (43%) and Argentina (39%). As for the main factors that hinder investment, they include volatility, scams, and entry basics. A considerable number of people do not understand the purpose of blockchain or think it is too complicated, and therefore believe that this investment is only suitable for tech-savvy people. In addition, 47% of respondents said that the current banking system works well, but there is still room for improvement. However, 18% believe that it needs to be completely rebuilt, while 19% believe that the status quo is sufficient.