Worldwide crypto ownership crosses 320 million, here are the countries leading the way
Crypto adoption worldwide has accelerated over the past couple of years. Thanks in particular to the 2021 bull run that saw the price of bitcoin reach as high as $69,000, triggering an influx of new users into the market, both on the retail side and institutional investors. As it stands, there are now more than 320 million crypto users around the world, according to recent data. Here are the countries that dominate the list.
The US takes the lead
The US has actually seen one of the fastest adoptions of cryptocurrencies. Data from Triple A shows that there are more than 46 million crypto users in the country. This is made even more clear that more than 80% of all crypto ATMs installed in the world are found in this region. So in total, the US has 13.74% of its total population who are crypto users.
In second place is India. Over the years, there have been reports of Indians flocking to cryptocurrency as the new gold. Their numbers have grown rapidly as a result, and there are now more than 27.4 million crypto users in the region. However, this constitutes only about 2% of the total Indian population. Pakistan comes in 3rd place with more than 26.4 million crypto users, which is 11.5% of the total population.
Total market cap falls to $976 billion | Source: Crypto Total Market Cap on TradingView.com
Unsurprisingly, Nigeria comes in 4th place. The economic situation in the country has worsened over time with double-digit inflation, and citizens have turned to cryptocurrency to maintain the value of their wealth. The country has more than 22.3 million users, which is 10.34% of the total population.
Vietnam comes in 5th place with more than 20.2 million users. Despite being ranked 5th, it is the country with the largest percentage of the population using crypto, at 20.27%. This puts it ahead of China, with 19.88 million, and Brazil, with 16.65 million. Russia, Indonesia and South Africa complete the top 10 with 14.6 million, 12.23 million and 7.7 million respectively.
Crypto is spreading across the continents
On a control-by-country scale, the United States led the charge in terms of adoption, but when zoomed out and viewed from the perspective of the continents as a whole, the West is quickly dethroned. Instead, Asians are leading the charge in this regard.
The data shows that Asia has 130 million crypto users. In contrast, the African continent has 53 million areas of use. This puts North America in 3rd place with a total of 51 million users. Europe follows with 43 million, and South America with 27 million. Oceania reached 1 million users.
Holder demographics are also skewed towards the male popular. In total, 63% of all crypto users are men, while 37% are women. 72% of all users are under the age of 34, which indicates that the market appeals to the younger popular. The majority (71%) have at least a bachelor’s degree.
Featured image from Finance Feeds, chart from TradingView.com
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