25 Countries Bursting at the Seams With the Most Cryptocurrency Owners
Cryptocurrency has made tremendous waves in the American economy and culture since it reached mainstream popularity in the last 10 years. But how far has the impact spread throughout the entire world?
The crypto financial market might be foreign to some Americans when learning about it, and thinking about those same digital currencies being used overseas might be difficult to envision as well. With different laws in place for digital currency in different countries, including taxes and bans, you might be surprised to learn where the crypto market has made the biggest impact.
Cryptocurrency payments company Triple-A examined crypto data to determine the countries with the greatest percentage of cryptocurrency owners. The United States is on the list, but you won’t expect some of the countries that rank above us.
Tracking Crypto Ownership
Triple-A tracked cryptocurrency data, with the numbers shared here accurate as of May 2024. They estimate that approximately 6.8% of people worldwide own crypto, totaling around 560 million cryptocurrency users.
While it may seem like a trend, crypto has fast become an important way for many people to use and earn money online. Crypto is encrypted and decentralized, and unlike the euro or U.S. dollar, this type of currency has no central authority that manages its value.
According to Triple-A, approximately 61% of crypto users are male, 72% are under 34 years old, and 71% have a bachelor’s degree or higher. Those statistics follow what Americans might expect, but this one probably doesn’t: The annual income of an average cryptocurrency owner is $25,000.
Why do cryptocurrency owners have such a low annual income? Many of the countries that compose this list are lower-income nations.
1: United Arab Emirates
- Percentage of the population who own cryptocurrency: 25.3%
- Number of cryptocurrency owners: 2.4 million
2: Singapore
- Percentage of the population who own cryptocurrency: 24.4%
- Number of cryptocurrency owners: 1.4 million
3: Turkey
- Percentage of the population who own cryptocurrency: 19.3%
- Number of cryptocurrency owners: 16.5 million
4: Argentina
- Percentage of the population who own cryptocurrency: 18.9%
- Number of cryptocurrency owners: 8.6 million
5: Thailand
- Percentage of the population who own cryptocurrency: 17.6%
- Number of cryptocurrency owners: 12.6 million
6: Vietnam
- Percentage of the population who own cryptocurrency: 17.4%
- Number of cryptocurrency owners: 17.3 million
7: Brazil
- Percentage of the population who own cryptocurrency: 17.4%
- Number of cryptocurrency owners: 37.9 million
8: United States
- Percentage of the population who own cryptocurrency: 15.5%
- Number of cryptocurrency owners: 53.1 million
9: Saudi Arabia
- Percentage of the population who own cryptocurrency: 15.0%
- Number of cryptocurrency owners: 5.6 million
10: Malaysia
- Percentage of the population who own cryptocurrency: 14.3%
- Number of cryptocurrency owners: 4.9 million
11: Hong Kong
- Percentage of the population who own cryptocurrency: 14.3%
- Number of cryptocurrency owners: 1.07 million
12: Indonesia
- Percentage of the population who own cryptocurrency: 13.9%
- Number of cryptocurrency owners: 38.9 million
13: South Korea
- Percentage of the population who own cryptocurrency: 13.6%
- Number of cryptocurrency owners: 7.05 million
14: South Africa
- Percentage of the population who own cryptocurrency: 12.4%
- Number of cryptocurrency owners: 7.5 million
15: Switzerland
- Percentage of the population who own cryptocurrency: 11.5%
- Number of cryptocurrency owners: 1.02 million
16: Philippines
- Percentage of the population who own cryptocurrency: 10.6%
- Number of cryptocurrency owners: 12.5 million
17: Venezuela
- Percentage of the population who own cryptocurrency: 10.3%
- Number of cryptocurrency owners: 2.9 million
18: Ukraine
- Percentage of the population who own cryptocurrency: 10.2%
- Number of cryptocurrency owners: 3.7 million
19: Canada
- Percentage of the population who own cryptocurrency: 10.1%
- Number of cryptocurrency owners: 3.9 million
20: Slovenia
- Percentage of the population who own cryptocurrency: 9.9%
- Number of cryptocurrency owners: 208,804
21: Mexico
- Percentage of the population who own cryptocurrency: 9.7%
- Number of cryptocurrency owners: 12.5 million
22: Australia
- Percentage of the population who own cryptocurrency: 9.6%
- Number of cryptocurrency owners: 2.5 million
23: Luxembourg
- Percentage of the population who own cryptocurrency: 9.2%
- Number of cryptocurrency owners: 60,847
24: Chile
- Percentage of the population who own cryptocurrency: 9.0%
- Number of cryptocurrency owners: 1.7 million
25: Norway
- Percentage of the population who own cryptocurrency: 8.7%
- Number of cryptocurrency owners: 479,200
Where’s India?
When looking at the total number of cryptocurrency owners on a non-percentage basis, India ranks first in the world with over 117 million people owning crypto. These numbers are expected to rise higher in the country in the years to come; experts predict that between 2024 and 2032, the number of people from India who buy and sell crypto will increase by over 50%.
In terms of popular cryptocurrency in India, Dogecoin is number one with 11% of total investment. In India, Bitcoin and Ethereum trail behind Dogecoin with about 8% and 6% total investment, respectively.
History of Crypto
While the popularity of cryptocurrency has extended worldwide only in the last decade or so, the digital currency system was first utilized back in the 1990s. David Chaum is widely noted as a pioneer in crypto, with his invention of DigiCash in 1995.
The real rise of crypto worldwide began with the emergence of Bitcoin in the early 2010s after its creation in 2008. At the start of 2013, the price of Bitcoin was around $13, and one year later the price rose to nearly $800. By the end of 2017, the price was at nearly $20,000. As of May 2024, Bitcoin is in the upper $60,000s.
Falling Trends of Crypto
While Bitcoin and its users have enjoyed incredible heights over the last decade, there have been signs of decline in the digital currency market. In May of 2024, cryptocurrencies experienced a huge loss in one single day of 9% which worried many crypto traders.
In 2023, the cryptocurrency exchange company Crypto.com laid off 20% of its workforce due to the widespread downturn in the crypto market. It was a worrying move considering the company had paid to have the naming rights for the former Staples Center in 2021.
That said, cryptocurrency is notorious for extreme highs and lows. While many cryptocurrencies fade to nothing, certain cryptocurrencies like Bitcoin and Ethereum have yet to drop and remain at zero.
How Much Money It Takes To Be in the Top 10%
Whether you dream of being in the top 10% or think you might already be there, one thing is certain: The income a household makes to be in the top 10% club varies by state. Here’s how much you need to make to have a higher income than 90% of Americans.
How Much Money It Takes To Be in the Top 10% by State
Most to Least Expensive States To Retire
Are you hoping to settle down in a cheaper state during retirement? These are the states to consider and, equally important, those you’re better off avoiding.
Most to Least Expensive States to Retire Ranked From 1 to 50
