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Top Countries with the Highest Cryptocurrency Ownership Rates

Top Countries with the Highest Cryptocurrency Ownership Rates

Cryptocurrency ownership has been increasing steadily in recent years. According to Triple-A, global cryptocurrency ownership averages 6.8%, with over 560 million owners worldwide. This trend shows the growing prominence of digital currencies within financial systems globally. The UAE takes the lead in this trend, with the highest cryptocurrency ownership rate of 25.3%.

Key Takeaways

  • Cryptocurrency ownership is growing worldwide, with about 6.8% of the global population, or 560 million people, owning digital currencies.
  • The UAE has the highest cryptocurrency ownership rate at 25.3%, while India has the most crypto owners, with 93.5 million people.
  • After India, China has the second-largest number of cryptocurrency owners with 59.1 million, followed by the United States with 52.8 million.

Top 15 Countries with the Highest Cryptocurrency Ownership Rates

The table below presents the top 15 countries with the highest cryptocurrency ownership rates.

RankCountryCryptocurrency Owners (%)
1🇦🇪 UAE25.30%
2🇸🇬 Singapore24.40%
3🇹🇷 Turkey19.30%
4🇦🇷 Argentina18.90%
5🇹🇭 Thailand17.60%
6🇧🇷 Brazil17.50%
7🇻🇳 Vietnam17.40%
8🇺🇸 United States15.50%
9🇸🇦 Saudi Arabia15.00%
10🇲🇾 Malaysia14.30%
11🇭🇰 Hong Kong14.30%
12🇮🇩 Indonesia13.90%
13🇰🇷 South Korea13.60%
14🇿🇦 South Africa12.40%
15🇨🇭 Switzerland11.50%

The data is sourced from the Triple-A.

The UAE leads the ranking, with 25.3 percent of its citizens owning cryptocurrency; Singapore is closely behind at 24.4 percent. Other major countries in the top 15 include Turkey, Argentina, Thailand, Brazil, and Vietnam, all with ownership rates above 17%. The United States also has the significant cryptocurrency ownership rate of 15.5%. However, If the countries are ranked by the actual number of cryptocurrency owners, India would lead the ranking with 93.5 million holders, followed by China with 59.1 million and the United States with 52.8 million.

Highest Crypto Ownership by Population Percentage

1. 🇦🇪 UAE:

The United Arab Emirates (UAE) has high crypto ownership rates due to its favorable financial regulatory environment. It was one of the first countries to create official rules for buying and selling digital assets through its Financial Services Regulatory Authority (FSRA). Additionally, there are no taxes on capital gains or income from cryptocurrency in UAE, which makes it even more attractive for businesses and individuals to own cryptocurrency.

2. 🇸🇬 Singapore:

Singapore has emerged as a global leader in cryptocurrency holder due to its open regulatory environment as well as its strong financial sector. Around 24.4% of the country’s population owns cryptocurrency, which is equal to 664,627 people. The country’s government positively supports innovation in fintech, which makes it easier for businesses and individuals to engage with cryptocurrencies. Additionally, Singapore also has a tech-savvy population and high financial literacy, which contribute to the widespread use of digital currencies in the country.

3. 🇹🇷 Turkey:

In Turkey, cryptocurrency ownership is largely driven by the country’s economic instability and high inflation. This explains why around 19.3% of its citizens own cryptocurrencies that translate to nearly 4.83 million. Additionally, with the decreasing value of the Turkish lira, many citizens have turned to cryptocurrencies as a more stable store of value and a means of protecting their wealth from further currency devaluation.

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Largest Crypto Markets by Number of Holders

1. 🇮🇳 India

India has the largest number of cryptocurrency holders globally at 93.5 million, which is equal to 6.55% of the country’s population. India’s large population and increasing adoption of digital finance have been the main contributors to such high uptake in cryptocurrency. The country also charges some of the highest tax of 30% on earnings from crypto trade.

2. 🇨🇳 China

China is the second-largest holder of cryptocurrency holders with 59.1 million people, or 4.15% of the population. Even with the severe government control and ban on trading and mining of cryptocurrencies, there are a large number of Chinese citizens who still hold and exchange cryptocurrencies. The nation was previously the world leader in mining Bitcoins.

3. 🇺🇸 United States

The United States comes in third for cryptocurrency holders, with 52.8 million individuals, or 15.56% of the population. The nation boasts a robust crypto industry with top exchanges and blockchain firms.

Crypto Ownership by Region

Cryptocurrency adoption differs significantly by region. Countries like the UAE and Saudi Arabia are the major cryptocurrency holders in the Middle East. In Asia, countries such as Singapore, Thailand, Vietnam, and South Korea have emerged as major adopters of digital currencies. At the same time, North America and Europe are also experiencing consistent growth in digital currency ownership. The United States and Switzerland standing out as leading nations in these regions in terms of crypto ownership.

Conclusion

Cryptocurrency ownership is increasing across the globe. UAE, Singapore, and Turkey have the percentage of individuals who own cryptocurrency. On the other hand, India, China, and the United States have the largest number of cryptocurrency holders. Government regulations, economic challenges, and financial opportunities contribute to the adoption rate of cryptos in various nations.

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