Over 65% of surveyed Nigerian crypto users transact below ₦50,000; less than 3% move above ₦1 million

Key Takeaways

  • Nearly two-thirds (67%) of all crypto transactions in Nigeria are below ₦50,000, reflecting widespread use among everyday retail users.
  • The ₦15,000–₦25,000 band (28.2%) is the single largest group, showing consistent, small-scale engagement rather than high-value speculation.
  • Around 25% of users transact between ₦50,000 and ₦250,000, suggesting a growing middle class of more confident, mid-level investors.
  • Less than 3% of users transact above ₦1 million, confirming that Nigeria’s crypto market remains primarily retail-driven, not institutional or high-net-worth.

Nigeria’s crypto economy beats to the rhythm of everyday users. According to the Quidax 2025 report, most retail participants engage in small, frequent transactions, typically under ₦50,000. This pattern highlights a market characterised by accessibility and grassroots participation rather than large-scale speculation. It reflects how Nigerians are integrating crypto into daily financial habits, topping up, saving, testing markets, and hedging modest sums, rather than making one-off big bets. These micro-transactions form the pulse of the country’s digital economy, illustrating crypto’s role as both a tool for financial inclusion and a gateway to investment literacy.

Source:

Quidax Report - The State of Crypto Adoption in Nigeria

Period:

2025
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