• Thursday, June 13, 2024
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Top 10 countries with the highest rates of crypto ownership

Top 10 countries with the highest rates of crypto ownership

Cryptocurrency has revolutionized traditional finance globally, with certain countries standing out for their fervent embrace of digital currencies.

In recent years, the world has witnessed an unprecedented surge in cryptocurrency adoption, attracting millions of investors worldwide.

Initially met with scepticism, digital currencies have rapidly gained popularity, with some nations emerging as hotspots for crypto ownership.

In Nigeria, the Binance crackdown and government actions, such as restricting access to crypto websites and detaining Binance executives, underscore concerns about the future of cryptocurrency in the country.

Read also: Nigeria to remove Naira from all peer-to-peer crypto platforms

Despite this, Nigeria, with a population of 223,804,632, boasts a crypto ownership rate of 5.93%.

According to Triple-A, Here are the top 10 countries with the highest rates of crypto ownership in 2023.

1. United Arab Emirates (UAE)

With 30.4% of its population owning cryptocurrencies, the UAE leads the pack in crypto adoption. This translates to a whopping 3 million crypto enthusiasts in the country.

2. Vietnam

Surging ahead with 21.2% of its population invested in crypto, Vietnam has a remarkable 21 million crypto owners, showcasing its keen interest in this decentralized asset class.

Read also: SEC tightens grip on crypto industry with new capital base

3. United States (U.S.)

Despite being the world’s largest economy, the U.S. isn’t far behind, with 15.6% of its population poking into cryptocurrencies. This equates to a massive 53 million crypto investors across the nation.

4. Iran

Iran emerges as a surprising contender in the crypto realm, with 13.5% of its population, approximately 12 million people, actively participating in the digital currency market.

5. Philippines

The Philippines follows closely behind, with 13.4% of its population, accounting for 16 million individuals, diving into crypto investments.

6. Brazil

Brazil showcases a significant crypto presence, with 12% of its population, approximately 26 million people, seizing the opportunity to invest in digital assets.

Read also: Fintechs to report crypto trades as regulators talk tough

7. Saudi Arabia

Despite its conservative financial landscape, Saudi Arabia exhibits growing crypto interest, with 11.4% of its population, around 4 million individuals, venturing into this innovative space.

8. Singapore

Singapore, known for its technological advancements, has 11.1% of its population as crypto owners, with approximately 665,000 individuals actively engaging in digital currency investments.

9. Ukraine

With 10.6% of its population, totalling 4 million people, Ukraine stands out, embracing cryptocurrencies, reflecting the country’s openness to emerging financial technologies.

10. Venezuela

Rounding off the list is Venezuela, with 10.3% of its population, comprising 3 million individuals, navigating the crypto landscape amidst economic challenges.