67.2% of active crypto users use cryptocurrency primarily for investment

Key Takeaways

A majority (67.2%) of Nigerian crypto users (17.7 million people) use digital assets mainly for investment and long-term financial growth.
Overall, 26.34 million Nigerians—over one in eight adults—actively use or hold cryptocurrency, giving the country the highest adoption rate globally.
About 18.4% (4.8 million) use crypto for everyday needs such as remittances, payments, and inflation protection.
14.4% (3.8 million) identify as active traders, providing liquidity and earning income through market participation.

According to Quidax’s 2025: State of crypto adoption in Nigeria report, cryptocurrency in Nigeria has matured into a mainstream investment vehicle rather than a speculative fad. With 26.34 million active users, the majority engage in investment, viewing crypto as a path to long-term financial stability and diversification beyond traditional banking. Meanwhile, utility use focuses on practical applications such as payments, remittances, and inflation protection, while trading continues to sustain market activity through regular buying and selling. This balance of investment confidence, practical utility, and active trading cements Nigeria’s position as a global leader in digital asset engagement.

Source:

Quidax Report - The State of Crypto Adoption in Nigeria

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Period:

2025

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Payments and utility are minor drivers: Only 3.3% report “daily utility” and 2.2% “digital commerce” as their chief motive for using crypto.
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Over 65% of surveyed Nigerian crypto users transact below ₦50,000; less than 3% move above ₦1 million

Nearly two-thirds (67%) of all crypto transactions in Nigeria are below ₦50,000, reflecting widespread use among everyday retail users.
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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.