Nigeria Only African Country To Make It In Top 20 Crypto Hubs
London Is ranked with the greatest crypto-readiness to attract firms and startups.
Nigeria is the only country in Africa that made it to the top 20 Crypto Hubs in the world.
Even though African countries such as Kenyans and South Africa are leading in the number of crypto users, a majority were missed in the recently done survey.
Recap, the world’s most confidential crypto tracker, has recently released a ranking of the top 50 cities equipped for widespread cryptocurrency adoption, based on 8 key metrics.
London emerged as the most crypto-friendly city, outpacing major cities such as Dubai, Singapore, and New York City. The indicators include crypto events, crypto workforce, crypto firms, crypto ATMs, and crypto ownership.
Only one African city, Lagos, made it to the top 20 ranking. Lagos, located in the populous country of Nigeria, boasts 112 crypto companies and 779 people employed in crypto-related jobs.
London, on the other hand, has the most significant crypto workforce with 2,173 people working in the Web3 industry.
Dubai, the leading center for blockchain and crypto in the Middle East, came in second. According to a survey, two-thirds of adults in the UAE are interested in cryptocurrencies.
Dubai’s 0% tax rate also makes it attractive to crypto investors, according to Recap data.
New York City took third place with over 843 crypto startups and 1,400+ crypto-related jobs.
The city hosts a weekly event, CryptoMonday, for crypto enthusiasts to network and find employment opportunities.
Interestingly, no city from El Salvador, where Bitcoin is legal tender since 2021, made it to the top 30 crypto-ready cities, according to the ranking.