According to Cryptocurrency Ownership Data, India ranks top in terms of the largest number of crypto users in the world
The adoption of cryptocurrency in various countries continues to increase rapidly in 2024, driven by the need for a more efficient alternative financial system and protection against currency devaluation.
According to Cryptocurrency Ownership Data, India tops the list in terms of the largest number of crypto users in the world, followed by China and the United States.
1. India
India leads the way with 93 million crypto users, representing about 6.55% of the total population. The rise is driven by the rapid growth of the digital economy and interest in alternative investments amid government regulations that have yet to fully regulate cryptocurrencies.
2. China
China is in second place with 59 million crypto owners, despite strict regulations governing crypto trading and transactions in the country. Even so, many Chinese citizens use crypto as a means of investment and cross-border remittances.
3. United States
In the United States, about 53 million people, or 15.6% of the population, own cryptocurrency. The country is known for its clearer regulations and financial infrastructure that supports crypto innovation, facilitating the growth of the industry.
4. Vietnam
Vietnam has one of the highest crypto adoption rates in the world, with 21.2% of the population or around 21 million people owning digital assets. Despite being banned as a means of payment, crypto in Vietnam is used as an attractive investment for the public.
5. Brazil
Brazil is one of the countries in Latin America with the largest crypto users, reaching 12% of the population or 26 million people. This is triggered by the fluctuation of the local currency exchange rate against the US dollar, which encourages people to look for alternatives through crypto.
6. Philippines
In the Philippines, 13.4% of the population, or about 16 million people, own crypto. The country is also one of the fastest growing crypto markets in Asia.
7. Nigeria
Nigeria has recorded 13 million crypto users or around 5.93% of the population. Although crypto regulations are still unclear, the country continues to show significant growth in digital asset trading.
8. United Arab Emirates (UAE)
The United Arab Emirates (UAE) has the highest rate of crypto ownership in the world, with 30.4% of the population involved in digital asset ownership. This is driven by the governmentâs friendly attitude towards crypto, including regulations that facilitate trading and investment.
9. Iran
About 13.5% of Iran's population, or 12 million people, use crypto as an investment vehicle, mainly to protect assets from high inflation.
10. TĂŒrkiye
In TĂŒrkiye, crypto has become a solution for many people who want to protect their assets from inflation. As many as 27.1% of the population uses crypto as an alternative amidst the unstable economy.
Cryptocurrency continues to be an important instrument for global society, whether as an investment vehicle, payment instrument, or asset hedge.
With a growing user population, countries like India, the United States, and Vietnam are now leading the global crypto adoption.
