Cryptocurrency has revolutionized traditional finance globally, with certain countries standing out for their fervent embrace of digital currencies.
In recent years, the world has witnessed an unprecedented surge in cryptocurrency adoption, attracting millions of investors worldwide.
Initially met with scepticism, digital currencies have rapidly gained popularity, with some nations emerging as hotspots for crypto ownership.
In Nigeria, the Binance crackdown and government actions, such as restricting access to crypto websites and detaining Binance executives, underscore concerns about the future of cryptocurrency in the country.
Read also: Nigeria to remove Naira from all peer-to-peer crypto platforms
Despite this, Nigeria, with a population of 223,804,632, boasts a crypto ownership rate of 5.93%.
According to Triple-A, Here are the top 10 countries with the highest rates of crypto ownership in 2023.
1. United Arab Emirates (UAE)
With 30.4% of its population owning cryptocurrencies, the UAE leads the pack in crypto adoption. This translates to a whopping 3 million crypto enthusiasts in the country.
2. Vietnam
Surging ahead with 21.2% of its population invested in crypto, Vietnam has a remarkable 21 million crypto owners, showcasing its keen interest in this decentralized asset class.
Read also: SEC tightens grip on crypto industry with new capital base
3. United States (U.S.)
Despite being the world’s largest economy, the U.S. isn’t far behind, with 15.6% of its population poking into cryptocurrencies. This equates to a massive 53 million crypto investors across the nation.
4. Iran
Iran emerges as a surprising contender in the crypto realm, with 13.5% of its population, approximately 12 million people, actively participating in the digital currency market.
5. Philippines
The Philippines follows closely behind, with 13.4% of its population, accounting for 16 million individuals, diving into crypto investments.
6. Brazil
Brazil showcases a significant crypto presence, with 12% of its population, approximately 26 million people, seizing the opportunity to invest in digital assets.
Read also: Fintechs to report crypto trades as regulators talk tough
7. Saudi Arabia
Despite its conservative financial landscape, Saudi Arabia exhibits growing crypto interest, with 11.4% of its population, around 4 million individuals, venturing into this innovative space.
8. Singapore
Singapore, known for its technological advancements, has 11.1% of its population as crypto owners, with approximately 665,000 individuals actively engaging in digital currency investments.
9. Ukraine
With 10.6% of its population, totalling 4 million people, Ukraine stands out, embracing cryptocurrencies, reflecting the country’s openness to emerging financial technologies.
10. Venezuela
Rounding off the list is Venezuela, with 10.3% of its population, comprising 3 million individuals, navigating the crypto landscape amidst economic challenges.
Chisom Michael is a data analyst (audience engagement) and writer at BusinessDay, with diverse experience in the media industry. He holds a BSc in Industrial Physics from Imo State University and an MEng in Computer Science and Technology from Liaoning Univerisity of Technology China. He specialises in listicle writing, profiles and leveraging his skills in audience engagement analysis and data-driven insights to create compelling content that resonates with readers.
