Cryptocurrency use is increasing all over the world. However, some countries are leading the way in terms of cryptocurrency adoption. In this article, we will look at the five countries with the highest cryptocurrency use in the world.
Before we begin, let’s start with some overall stats from Triple-A! The estimated global ownership rate of cryptocurrency is an average of 4%, and over 330 million people around the globe own cryptocurrencies! And it shouldn’t be a surprise that bitcoin reached a value of $1.15 trillion in October 2021, making it 47% percent of all cryptocurrency market capitalization.
Although the market is experiencing a sharp cold snap, these stats give you an idea of bitcoin ownership and domination.
So let’s get started!
The U.S. has over 46 million cryptocurrency users, and 13.7% of the population owns cryptocurrency. But it is essential to know who these users are in the U.S. The cryptocurrency world is attracting a lot of young people. According to our research, 82% of U.S. crypto owners are in the 18–44 age group, and only 7% are older than 55 years old! It’s no surprise why this new technology has become so popular among millennials — they form majority ownership with their rapidly growing populations all over America.
India has 27 million cryptocurrency users, but this accounts for only 2% of the population, with a total population of 1.38 billion! Despite regulation uncertainties, more and more people are investing in cryptocurrency. And there has been a rise of female cryptocurrency users in India, which has skyrocketed to 41%.
Pakistan comes in third with 26 million users, up to 10% of its population. The bitcoin market in Pakistan is still very new, but it’s fast-growing, as stated by the country’s first and largest trading platform — Urdubit.
Nigeria has 22 million cryptocurrency owners. It may come in at #4 in terms of total crypto owners, but the country has a strong cryptocurrency culture, with over 10% of the population owning crypto. Peer-to-peer lending is on the rise in Africa! Nigeria leads this charge with weekly P2P volumes between $8 million in 2020, followed by South Africa and Kenya at about 2 million per week.
Vietnam is a small country, but it shows what it’s made of with over 20 million users, which is over 20% of its total population! Crypto is becoming more popular in Vietnam, with 59% expressing an interest and 31 percent saying they would use crypto for online payments. In addition, there are high levels of awareness about cryptocurrencies among the Vietnamese people, which is about 82%.
Worldwide Adoption Is On The Rise
The use of cryptocurrencies is on the rise all over the world. If you’re looking to get into this exciting and growing market, it’s essential to understand where most users are.
These five countries are a great place to start when expanding your cryptocurrency business.
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