₦airaland Forum

Nigeria leads the world in crypto ownership, according to ConsenSys’ second annual Global Survey.

The report indicated that emerging markets like Nigeria and South Africa are driving the global adoption of cryptocurrencies.

The percentage of ownership is highest in the Philippines (54%), South Africa (68%), and Nigeria (73%).

These countries are at the forefront of notable interest in cryptocurrency-related awareness, ownership, and engagement.

According to the survey, 51% of respondents say they understand crypto assets and 93% of respondents worldwide are aware of them.

Additionally, these countries have shown a strong interest in Web3 activities, such as staking, utilizing decentralized finance (DeFi), and holding NFTs.

Eighty per cent of Nigerian respondents were aware of decentralization, and 77% correctly defined blockchain. In addition, 74% of respondents from South Africa said they were familiar with the concept, compared to 61% of those from the Philippines.

The survey also reveals enduring obstacles to entry, despite the increasing interest in cryptocurrency in these regions. Concerns about scams, market volatility, and a lack of understanding of its purpose are common worldwide.

Respondents from emerging markets have shown a willingness to accept virtual currencies despite these difficulties and barriers.

Seventy-five per cent of those surveyed expressed concern about artificial intelligence’s (AI) potential to spread fraud and create fake news, highlighting that blockchain may be crucial in resolving these issues.

Blockchain could offer the accountability and transparency required to counteract AI-driven disinformation, according to roughly 54% of participants worldwide.

Speaking about the survey’s findings on the growing significance of data privacy, Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, stated: “It is impossible to overestimate the crucial role that blockchain technology and decentralization play in improving privacy, trust, and transparency in the way our data is handled.

“The adoption of Web3, blockchain, and cryptocurrency has accelerated recently, with 2024 being a key year.”

He clarified that this growth is partly due to the recent U.S. presidential election, which might result in more transparent regulations for the sector.

Nigeria: A Unique Crypto Market

Nigerians have been drawn to the digital world in hopes of making a living as the real economy struggles with high youth unemployment and astronomical food inflation.

Chainalysis, a New York-based company that tracks blockchain use, estimated that 33% of Nigerians currently invest in cryptocurrencies, placing the country second in global adoption, after India.Nigerians living abroad use crypto assets to send money to their families back home, avoiding the hassles and exorbitant fees associated with traditional remittance methods.However, Nigerian policymakers have been concerned about the appetite for cryptocurrencies, which are transnational by nature. They claim that instead of resolving Nigerians’ problems, the country’s move toward cryptocurrencies has weakened their ability to govern and further harmed the struggling naira.

These obstacles haven’t deterred President Tinubu’s administration from using a carrot-and-stick approach. While the Nigerian SEC has theoretically regulated a few local cryptocurrency exchanges, at least three well-known cryptocurrency companies have left the Nigerian market this year.

Bitcoin Bullish RunBitcoin surged to a new all-time high, reaching as high as $106K on Monday morning as investors anticipated a rate cut by the Federal Reserve later this week.Bitcoin is now up 50% since the U.S. elections and almost 8% for the month since Trump’s victory, with a year-to-date gain of 145%.Digital assets continue to benefit from the prospect of a more favorable regulatory environment and the potential creation of a national strategic bitcoin reserve under the incoming Donald Trump administration.

emmabest2000:
The effect of Trump

emmabest2000:
The effect of Trump

Starboytwo:
My prayer na make I see CL wey dey pay in Beeteecee. Oti zeh straight.

RealLordZeus:
Can you the title to "Nigerian Politicians leads"
Thanks for the cooperatoon

edet19892015:
Unless you understand your role in society, you can never make any meaningful contribution.

According to the Greeks, they are three types of people on Earth,
1. The idiots,
2. The tribesmen, and
3. The citizens.

Studies show only 10% of Africans are citizens.
The remaining 90% are either tribesmen or idiots.

1. When the Greeks used the word "Idiot", they did not use it as a curse word.
Idiots are people who just don’t care.
If they sit for exams, they will cheat.
If they are in government they will steal.

An idiot does not care at all, if he eats bananas he throws the peels anywhere instead of putting them in a trash bin.

IDIOTS won't attend monthly neighborhood meetings. They won't pay security dues. They won't contribute to community development. Even when they see or know about something that will harm others in the community they won't report it. When they see/know/have something that will benefit their community they won't share.

In fact, Idiots don't care to register for or vote in an election, yet they complain the most. If they register to vote, IDIOTS will sell their votes for peanuts.

According to the Greeks, some societies have more idiots than tribesmen and citizens.

2. The next set of people are "Tribesmen", these are people that look at everything from the point of view of their tribe.

These are people that believe in you only if you are part of their tribe.
It can be terrible to have a tribesman as a leader, he will alienate the rest.

When the Greeks talk about tribes, it’s not just about ethnicity, they also consider religion, gang membership, group membership, party membership and even cult membership as a tribe.

A great percentage of Africans are tribesmen, because they view everything from the point of view of their tribes. They trust only their tribesmen

3. The last group are "Citizens".
These are people who like to do things the right way.
They will respect traffic light rules even if no one is watching them.

They drive within speed limits.
They respect the laws, and won’t cheat in exams.
In government, they won’t steal.
They are compassionate and give to others to promote their well-being.

Citizens often promote projects that benefit everyone.
The Greeks called this group "The Citizens".

Some countries have more citizens than tribesmen and idiots, others have so many idiots.

A tribesman can become a citizen through orientation.
And an idiot can become a citizen by training and constant enforcement of the law.

But things fall apart if you elect an idiot or tribesman to lead you if he has not been reformed.

Where do you belong? Are you an idiot, a tribesman or a citizen? Reflect on your life.
Reflect about your immediate community, city, state and nation.

#EdetEdemAkpan #Share

Pojomojo:
Yeah

I'm recruiting a Web3 community manager

The candidate must have a good knowledge and understanding of the Web3 and crypto space.

Remuneration is $300 to $400 monthly.

If interested, apply by dropping your mail address.

adicius:
Crypto is a scam. Why are people so stupid, 😠 SMFH.



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adicius:
Crypto is a scam. Why are people so stupid, 😠 SMFH.



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EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

*** Another Add (timestamp: 12:10pm): What you ignoramuses don't also understand is that the typical crypto guy is not broke (in the long run). Linea (a crypto company) is currently doing a campaign. More than 500k people worldwide are engaging and I'm 100% certain more than 20k Nigerians are among. By the end of the campaign, one person would have spent $200 for gas payments and shit to test their Blockchain. How many of you fuols can literally set #300k on fire to bet on a life changing outcome? How many of you have the balls to engage, with no explicit agreement that Linea will reward campaign participants? Today is 22nd of Feb, 2024. If or when Linea do their airdrop, I will come back to update how much an average participant got. ***

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.