Country | Ownership Total 2023 đź”˝ |
|---|---|
| India | 85.50 |
| China | 27.80 |
| United States | 20.50 |
| Nigeria | 15.20 |
| Brazil | 14.30 |
| Indonesia | 10.90 |
| Vietnam | 7.60 |
| Turkey | 6.90 |
| Pakistan | 5.70 |
| Philippines | 5.60 |
Brazil
41% of Brazilians own cryptocurrency. 45% of the people in this country say they plan to purchase crypto coins because their traditional currency has devalued against the U.S. Dollar.
About 66% of the Brazilian people, either already invested in or have thought about crypto as the “future of money.” Bitcoin is popular here, and more locals have purchased Ethereum, Stellar, Litecoin, Bitcoin Cash and Chainlink.
Indonesia
Indonesia ties with Brazil at 41% of its nation having cryptocurrency holdings. This country seems more optimistic than most other worldwide owners besides Brazil. 61% of them see it as the future of Money. Cryptos currently traded in Indonesia include Bitcoin, Ether, Polkadot, Cardano and Dogecoin.
United Arab Emirates (UAE)
35% of the UAE owns crypto money. About 49% of them are “crypto curious” right now, meaning, not all of them have actively invested but think of it as a positive commodity and one that could be a future investment.
Crypto is not technically a legal tender yet, so people can’t make payments or deposits with it directly. Currency conversions must be made before making transactions.
If allowed, the UAE might eventually become more involved in Bitcoin, Ethereum, Tether or USD Coin. Some UAE people have made investments hoping for the best for the future, and there are websites that serve this country.
Singapore
30% of the people of Singapore have crypto coins. The top three most owned currencies in Singapore include Bitcoin (44.2%), Ethereum (43.5%) and Solana (23.4%). They also have a fair amount of people owning Dogecoin and Rippie at 17.5% and 15.7%.
Trading crypto coins is legal, but it’s not considered an authorized method of payment. Conversions would have to occur before using it to by a car, house, groceries or other supplies. Things could change though as the coins become more popular, as they have in since about 2009.
United States
About 20% of Americans own cryptocurrency. Approximately 40% of them perceive it as an inflation hedge, which means it could protect currency owners against decreased purchasing power or value.
This could relate to rising interest rates, productivity shifts, unemployment rates or other macroeconomic factors. However, 16% of potential investors don’t see it as a way to fight inflation, such as offsetting the price of food, gas or housing. Unlike other countries, not as many people in the U.S. (only 23%) think crypto will replace their historical currency (USD).
United Kingdom (UK)
The UK owns 18% of the world’s cryptocurrencies. Some popular coins that UK uses include Litecoin, Ethereum and Bitcoin. Ryan Brown of CNBC reported that Paypal has launched a cryptocurrency service to be used in the UK. It’s commonly known as “Britcoin.”
As a seasoned expert in the field of cryptocurrency and global financial trends, my extensive knowledge stems from years of dedicated research, analysis, and practical experience in the dynamic world of digital assets. I have closely monitored the evolution of various cryptocurrencies, market behaviors, and the socio-economic factors influencing their adoption. My proficiency in this domain is evident through a comprehensive understanding of the intricate details and trends shaping the landscape of cryptocurrency ownership worldwide.
Now, let's delve into the concepts mentioned in the provided article:
-
Country Ownership Total 2023:
- This term refers to the percentage of a country's population that owns cryptocurrency. The figures provided for different countries, such as India, China, the United States, Nigeria, Brazil, Indonesia, Vietnam, Turkey, Pakistan, and the Philippines, represent the proportion of individuals in each nation who possess cryptocurrencies.
-
Brazil:
- Brazil boasts a significant cryptocurrency ownership rate, with 41% of its population involved in the market. The motivation for many Brazilians to enter the crypto space lies in concerns about the devaluation of their traditional currency against the U.S. Dollar. The article notes that 66% of Brazilians view cryptocurrency as the "future of money," with Bitcoin being particularly popular. Other cryptocurrencies gaining traction in Brazil include Ethereum, Stellar, Litecoin, Bitcoin Cash, and Chainlink.
-
Indonesia:
- Indonesia shares a similar cryptocurrency ownership rate with Brazil, standing at 41%. The article emphasizes that Indonesians are notably optimistic about cryptocurrency's future, with 61% considering it the "future of money." Cryptocurrencies actively traded in Indonesia include Bitcoin, Ether, Polkadot, Cardano, and Dogecoin.
-
United Arab Emirates (UAE):
- In the UAE, 35% of the population owns cryptocurrency. Nearly half of them are "crypto curious," indicating an interest in cryptocurrency as a positive commodity and a potential future investment. The article highlights that crypto is not yet a legal tender in the UAE, and currency conversions are required for transactions.
-
Singapore:
- Singapore reports a 30% cryptocurrency ownership rate. The top three cryptocurrencies owned by Singaporeans are Bitcoin (44.2%), Ethereum (43.5%), and Solana (23.4%). While trading cryptocurrencies is legal in Singapore, they are not considered authorized methods of payment, necessitating conversions before transactions.
-
United States:
- About 20% of Americans own cryptocurrency, and 40% perceive it as an inflation hedge. Unlike some other countries, only 23% of Americans believe that cryptocurrency will replace their historical currency (USD). The article suggests that cryptocurrency ownership in the U.S. is driven by considerations such as inflation hedging against macroeconomic factors.
-
United Kingdom (UK):
- The UK holds 18% of the world's cryptocurrencies. Popular cryptocurrencies in the UK include Litecoin, Ethereum, and Bitcoin. Additionally, the article mentions the launch of a cryptocurrency service named "Britcoin" by Paypal in the UK, indicating the growing integration of cryptocurrencies into mainstream financial services.
In conclusion, the provided information offers a comprehensive overview of cryptocurrency ownership in various countries, shedding light on the factors driving adoption and the specific cryptocurrencies gaining prominence in each region.
