Cryptocurrency is reshaping the way people manage their finances. With the introduction of blockchain technology, cryptocurrency has rapidly gained popularity all around the world. From the United Arab Emirates to Vietnam and the United States, everyone’s fascination with cryptocurrencies is growing. So, here’s a list of the top countries in digital currency ownership in 2023.
Top Countries with Digital Currency Ownership
The United Arab Emirates boasts the largest crypto ownership percentage. Cryptocurrency usage is officially permitted, and government regulations support blockchain technology. Nearly 28% of the nation’s total population possesses cryptocurrencies.
Vietnam stands out as one of the leading countries in terms of cryptocurrency ownership. The swift digital transformation of the economy accounts for the surge in cryptocurrency ownership across the nation.
Saudi Arabia: 17.53%
Saudi Arabia ranks among the top global markets for cryptocurrencies. Approximately 17.53% of the nation’s population holds cryptocurrencies.
Iran is a significant player in the regional cryptocurrency market. Approximately 13.46% of Iran’s population is involved in cryptocurrency ownership. Pioneering companies, such as Coinbase Global Inc., are actively shaping the crypto landscape through continuous innovation and substantial research and development investments.
Cryptocurrencies enjoy substantial popularity in the United States. Supportive government regulations and the widespread adoption of blockchain technology have led to an exponential increase in crypto usage.
Amid the Ukraine-Russia conflict, Ukrainian residents turned to foreign currencies and cryptocurrencies as a secure refuge, which has notably fueled cryptocurrency adoption within the country.
Venezuela stands as one of the prominent cryptocurrency markets in the region. Nearly 10% of the Venezuelan population possesses cryptocurrencies.
South Africa: 10.00%
South Africa represents a substantial cryptocurrency market. A significant portion of the lower and middle-class population tends to invest in cryptocurrencies, considering them a safer asset compared to the local currency.
Approximately 9.32% of Thailand’s total population holds cryptocurrency. The growth in cryptocurrency ownership in recent years can be attributed to favourable regulations promoting widespread cryptocurrency use.
India secures the tenth position with one of the highest rates of cryptocurrency ownership. The number of cryptocurrency owners in India totals nearly 97.5 million. However, there remains significant uncertainty surrounding the laws and regulations governing cryptocurrency’s potential as a mainstream source of income.