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Digital assets are steadily conquering the planet, with tens and even hundreds of millions of new users joining Web3 every year. But who are these people who form the basis of the future of finance, and how similar or different are they in age, race, education, where they live, and how they use cryptocurrency?
To answer these questions, we looked at several recent reports on the number of cryptocurrency owners worldwide, as well as their demographics, geographic distribution, and behavior patterns.
Web3 users are a uniquely diverse group. Overall, they tend to be younger and more educated, but there are significant regional differences. Asia and North America lead the way in absolute numbers of cryptocurrency users, while countries like the UAE and Singapore boast the largest share of their populations owning digital assets.
In recent years, cryptocurrency ownership has exploded around the world, with digital assets becoming an integral part of the financial ecosystem. However, we are still in the early stages of this movement, and as with any emerging global phenomenon, there is much we don’t know about it.
And here’s the tantalizing question: Who exactly is at the forefront of this financial revolution? Are cryptocurrency users in Southeast Asia similar to those using digital assets in Central America? To better understand you, the current or future cryptocurrency user, we’ve compiled the available data on the demographics, geographic distribution, and behavior patterns of digital asset owners around the world. Here’s what we learned.
Demographics: People Behind the Screen
According to recent research by digital payments company Triple-A, the number of cryptocurrency owners worldwide will reach 562 million in 2024, which will be about 6.8% of the world’s population. Binance currently has 213 million registered users, which is almost 38% of the global community. Triple-A also calculated that compared to 420 million cryptocurrency owners in 2023, there was a significant increase of 34%, which shows the impressive growth rate of interest in digital currencies and their use. Crypto.com’s “Cryptocurrency Market Size 2024” report comes to similar conclusions, with the number of users worldwide increasing from 432 million to 580 million in 2023-2024. This growth in ownership clearly demonstrates how cryptocurrencies have evolved from a niche technology to a near-mainstream financial instrument.
An asset class for young people?
According to Triple-A, the largest group of cryptocurrency owners are in the 25-34 age group, accounting for 34% of the total. These people represent the peak of millennial engagement with digital currencies. Globally, this demographic is typically characterized by tech savvy and a greater propensity to adopt new technologies early. They are often digital natives who grew up with the rise of the internet and mobile technology, making them more comfortable with innovation.
This demographic is followed by people aged 35–44, who make up 31%. This figure may indicate that as people age and become more financially stable, their willingness to invest in cryptocurrencies increases. This age group often has higher disposable income and a greater understanding of investment opportunities, making them more comfortable with the higher risk and higher returns associated with cryptocurrency investments.
Young people aged 18–24 make up 20% of the cryptocurrency-owning population, with users over 45 making up the remaining 15%.
Source: Triple-A
Increased participation of women
The crypto space has long been considered a male-dominated field, and Triple-A data suggests that this gender gap in crypto ownership persists. Globally, men make up 61% of digital asset owners, while women make up just 39%. However, this data also means that there are currently around 155 million women on the planet who own cryptocurrency. In absolute terms, this is an impressive number that continues to grow. Additionally, the gender distribution is uneven across countries, with some regions being less pronounced.
One promising observation is that the gender gap is much smaller in the youngest age group (18-24), with only a 2% difference in ownership between men and women. This trend among the younger demographic points to a potential shift toward a more balanced gender distribution in the near future. The narrowing of the gap may be due to increased financial literacy and technological empowerment among young women, as well as targeted educational initiatives in the crypto space.
More educated and tech savvy
Cryptocurrency owners often come from higher socioeconomic backgrounds. They typically have a college education, with many holding advanced degrees in fields such as technology, finance, and engineering. These individuals typically work in professional or managerial positions, particularly in sectors that have been early adopters of the technology. These include positions in IT, financial services, and entrepreneurship, where professional skills overlap significantly with the technical requirements of understanding and managing cryptocurrencies.
Numerous studies show that many cryptocurrency owners are conscious risk-takers who are not only looking for financial gain, but are also interested in the innovative aspects of blockchain technology. Their investments are as much about supporting and participating in the technological revolution as they are about the potential for monetary gain. The higher disposable income of this demographic allows them to experiment with high-risk, high-return assets without jeopardizing their financial stability.
At the same time, at least in the US, several studies have found that ethnic minorities own cryptocurrencies at a higher rate than white Americans, suggesting that digital assets are contributing to more equitable access to financial services.
Geographical distribution
Cryptocurrency ownership is unevenly distributed across the world and varies significantly across regions and countries.
According to the Triple-A study, Asia leads in absolute numbers, with the number of owners growing from 268.2 million in 2023 to 326.8 million in 2024, up 21.8%. North America follows, with a significant 38.6% increase to 72.2 million. South America is showing the fastest growth, with the number of owners growing 116.5% over the past year to 55.2 million. Europe and Oceania are also seeing significant growth, while Africa is showing more moderate statistics.
Source: Triple-A
The UAE leads the ranking of countries by cryptocurrency ownership: 30.39% of the country's population owns digital assets. Singapore is in second place with 24.4%, followed by Turkey with 19.3% and Argentina with 18.9%.
Use cases
Beyond investment, cryptocurrencies are used for other purposes, reflecting their growing integration into everyday financial activities. Based on a survey of 7,000 participants from seven countries — Argentina, Brazil, Mexico, the United States, Hong Kong, Canada, and the United Arab Emirates — Triple-A found out the habits and usage scenarios of cryptocurrencies.
Investments
According to this study, cryptocurrencies are mainly used as investment vehicles. However, investment strategies vary: some engage in day trading, using market volatility to make a profit, while others take a long-term approach, holding assets in anticipation of future growth.
The rise of mobile trading apps has made it easier to access the cryptocurrency market and manage your investments from anywhere. Advanced features like automated trading bots and portfolio management tools are available to both beginners and experienced traders, expanding their income opportunities.
payments
There is a growing trend of using cryptocurrencies for everyday transactions. Surveys show high consumer interest in using digital currencies for payments due to low transaction fees, fast processing, and increased security.
Cryptocurrency payments are gaining popularity in categories such as FMCG, travel, hotels, and luxury goods. The convenience of using cryptocurrencies for everyday purchases is becoming increasingly attractive to consumers, and companies are beginning to realize the competitive advantage of accepting digital currencies.
Store of value
In regions with economic instability, cryptocurrencies are increasingly being considered as a store of value. For example, in Argentina, where the local currency suffers from hyperinflation, cryptocurrencies can become a reliable alternative. Bitcoin, often called “digital gold”, has become especially popular due to its deflationary nature and limited supply.
Conclusion
The cryptocurrency ownership landscape in 2024 is diverse and dynamic. Owners range from young people in countries with advanced technology infrastructure to citizens in economically unstable regions. The growing adoption and integration of cryptocurrencies into everyday life and commerce signals a significant shift in the global financial ecosystem. As regulations evolve and innovations emerge, the role of cryptocurrencies will expand, opening up new opportunities and creating new challenges for both users and businesses, drawing more people around the world into the Web3 world.