Key Facts about Cryptocurrencies

Which countries have the most people owning the cryptocurrency

Research firm GWI suggests that up to 10.2% of global Internet users between the ages of 16 and 64 own cryptocurrency. Most owners live in countries experiencing high inflation or fluctuations in the value of national currencies.

National currency instability and uncertainty about the future are forcing residents of volatile economies to use digital assets.

20.1% of the Thai population own digital assets. In Nigeria, 19.4% of the residents use cryptocurrency. The Philippines is in third place with 19.4% of the country's inhabitants.

Singapore-based blockchain firm Triple calculated that the global cryptocurrency ownership rate is about 4.2% as of 2022. 

In total, there are more than 420 million users of digital assets worldwide. 

The largest number of crypto holders live in the U.S. with 46 million cryptocurrency holders, followed by India (27 million), Pakistan (26 million), Nigeria (22 million), Vietnam (20 million).

The use of cryptocurrencies in different countries was also evaluated by Chainalysis, which surveyed 146 countries in five categories in its 2022 Global Crypto Adoption Index. Vietnam was found to lead in overall adoption, followed by the Philippines,  Ukraine, India, and the United States. However, the report did not include actual ownership data.

Using сryptocurrencies

As the number of cryptocurrency owners continues to increase, it is important to study how the purchased cryptocurrency is used.

Leading exchange Binance with the largest number of users decided to conduct its own research on the use of crypto assets. 

The results were as follows:

1. There is almost unanimous trust in cryptocurrencies among users (97%). 

2. 52% of users of the Binance  consider crypto investing not as a hobby, but as a means to generate income; 

3. For 15% of members, cryptocurrency is considered their main source of income. 

The top three reasons users invest in cryptocurrency are:

1. Owning cryptocurrency as part of a long-term investment strategy -55%, 

2. Distrusting the current financial system - 38% and 

3. Short-term trading opportunities - 31%

Cryptocurrency owners demographics

Studying the question who men or women buy cryptocurrency more GWI came to the following conclusion: 

• Among holders of digital assets there are 63% of men, 37% of women.

12.7% of male Internet users between the ages of 16 and 64 currently own cryptocurrency, compared to 7.2% among women.

It also found that 72% of cryptocurrency holders are under the age of 34, 71% have a bachelor's degree or higher.

The average cryptocurrency owner has an annual income of $25,000.

According to the Morning Consult report:

• men make up 70% of cryptocurrency holders, while accounting for 48% of the general population.

• 25% of people with incomes of $100,000 or more own cryptocurrency, while making up 15% of U.S. adults.

• 62% of white people own cryptocurrency, though they represent 69% of the U.S. adult population.