A new 2025 report reveals that Nigeria’s booming crypto scene is driven by young, low to middle-income earners.
A fresh report by Quidax and IFS Insights shows that 85% of Nigerian crypto investors earn below ₦250,000 monthly, placing most in the low- to middle-income class.
The study, State of Crypto Adoption in Nigeria 2025, surveyed over 1,850 Nigerians and found that students make up 43% of the country’s crypto users, followed by freelancers and self-employed professionals.
“This investor class, however, is not a high-net-worth segment,” the report stated.
Despite Africa’s reputation for fast crypto adoption, sub-Saharan Africa accounts for just 2.3% of global crypto transactions, compared to the US’s 24%.
Crypto use in Nigeria cuts across all regions, with Lagos alone representing nearly 25% of users.
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