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Which country has the most crypto users? In this article, deep-dive into the state of global crypto adoption 2024, and discover how many global crypto users there are.
As of 2024, the global landscape of cryptocurrency ownership has witnessed a remarkable surge, reflecting a broader acceptance and integration of these digital assets into everyday financial practices.
Recent data from Triple-A, a leading crypto payment gateway, reveals that global crypto ownership rates have averaged around 4.2% with over 420 million users worldwide.
US, India and China Top the Worldwide Crypto Ownership List
The significant increase in crypto adoption is not just confined to technologically advanced nations, but it is spread across a diverse range of countries, each with a unique economic landscape.
Countries like India, China, and the US are the leading countries in terms of the sheer number of crypto ownership.
India, with its vast population, has the highest number of crypto users, totaling over 100 million. This represents approximately 7.23% of its population, underscoring the growing relevance of digital assets in its financial ecosystem.
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Which Country Has the Most Crypto Users?
However, based on the percentage of the population that owns crypto, UAE tops the list, with 30.4% of the population adopting crypto.
On 8 May 2024, the Japanese crypto exchange Coincheck announced its intention to list on Nasdaq in the third quarter of 2024, signaling a rise in crypto adoption in Japan.
Meanwhile, with 13.22% of its population owning crypto, the US has nearly 45 million crypto users – a number that is on the rise. In fact, data suggests that the annual income of the average crypto owner in the US is $25,000 (perhaps reflecting the age demographics in ownership).
15% of the 258m adults in the US hold crypto.
Based on US crypto adoption growth rates, I suspect this election year will be the last time a government can feasibly win while still being anti-crypto. pic.twitter.com/LXOOZHbHJe
— Willy Woo (@woonomic) May 9, 2024
What Are the Main Drivers of Crypto Adoption?
The drivers behind this widespread adoption vary significantly across different regions. In countries with volatile currencies and unstable economies, crypto is increasingly viewed as a safer value store than traditional assets.
For instance, nations like Venezuela and Argentina have seen a rise in crypto usage as they battle high inflation rates, positioning digital currencies as an alternative to their depreciating local currencies.
On the other hand, in more stable economies, crypto’s growth is fueled by its potential for high returns and its increasing acceptance as a legitimate investment class.
The integration of crypto into mainstream financial services, such as its inclusion in ETFs and mutual funds, particularly in the US, has also played a crucial role in normalizing these assets for everyday investors.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
