The World Of Crypto Investors: A Global Perspective

Cryptocurrency is a high-risk and complex investment. It is a digital currency that uses cryptography and computer networks to secure online transactions. Cryptocurrencies are not overseen by traditional central institutions like governments or banks, and transactions are semi-anonymous. The first cryptocurrency, Bitcoin, was launched in 2009 and is now one of two main cryptocurrencies, alongside Ethereum. Together, they account for 70% of the total cryptocurrency market capitalization. The global user base of cryptocurrencies increased by nearly 190% between 2018 and 2020, and consumers in Africa, Asia, and South America were most likely to own cryptocurrencies in 2022. The number of users in the cryptocurrency market is projected to reach 107.30 million by 2025, with a user penetration rate of 7.41% in 2024, which is expected to rise to 12.39% by 2028.

Global crypto ownership rate in 2022: 4.2%

In 2022, the global cryptocurrency ownership rate was estimated to be around 4.2% of the world population. This equates to approximately 306 million people owning cryptocurrencies at the start of the year, rising to 425 million by December, representing a 39% increase in ownership over the year. This growth was driven by investment in major coins, particularly Ethereum, which saw a 263% increase in ownership, and Bitcoin, which saw a 20% increase.

The rate of cryptocurrency ownership varies across different countries and regions. Developing economies tend to have higher rates of ownership, particularly countries where conventional currencies are prone to fluctuations in exchange rates. For example, in Turkey, where the local currency has been subject to significant devaluation, cryptocurrency ownership almost doubled from 10% to 18.6% between 2021 and 2022. Other countries with high cryptocurrency ownership rates include Nigeria, the Philippines, and Vietnam. Asia is the leader in crypto ownership, with 326.8 million owners, followed by North America with 72.2 million.

Cryptocurrency ownership also varies by age and gender. Younger millennials are the most likely to own cryptocurrency, with ownership rates declining beyond the age of 35. Overall, 12.7% of male internet users aged 16 to 64 own cryptocurrency, compared to 7.2% of female users in the same age group.

Crypto ownership by age: 16-44-year-olds

As of 2024, there are over 560 million crypto owners worldwide, or 6.8% of the global population. This is a significant increase from 2023, when there were 420 million crypto owners globally, or 5.4% of the world population.

Crypto ownership is particularly high among 16-44-year-olds. In the US, 31% of people aged 18-29 have used cryptocurrency, compared to 21% of 30-49-year-olds, 8% of 50-64-year-olds, and 3% of people aged 65+. Breaking this data down by gender, 43% of American men aged 18-29 have bought cryptocurrency, compared to 16% of American women in the same age group.

While data on crypto ownership by age group in other countries is limited, it is known that 34% of crypto owners worldwide are aged 24-35, the largest share among all age groups.

Crypto ownership by gender: 15.5% male, 9.5% female

There is no clear consensus on the percentage of the world population that owns cryptocurrencies. However, crypto ownership is heavily skewed towards men, with men being nearly three times more likely to own crypto than women. According to a report by Morning Consult, 70% of cryptocurrency owners are men, while women make up only 30% of crypto owners. This gender disparity is also evident in Bitcoin trading, with women comprising only 15% of Bitcoin traders, according to data from eToro.

The gender gap in crypto ownership varies across different countries. For example, in the United States, men are almost three times more likely to own crypto than women. In Vietnam, 56% of male respondents indicated they owned crypto, compared to 44% of women.

While the exact reasons for the gender disparity in crypto ownership are unclear, it could be attributed to various factors such as the male-dominated nature of the tech industry, gender differences in risk tolerance, or even societal norms and expectations surrounding finance and investing.

It is worth noting that the percentage of female investors in cryptocurrencies has been slowly increasing. For example, the percentage of female Ethereum investors rose slightly from 11% to 12% at the beginning of 2020, according to eToro. Additionally, eToro reported that women were signing up to their platform at faster rates than men, with a 366% rise in female sign-ups compared to a 248% increase in male users.

While the gender gap in crypto ownership is significant, the increasing participation of women in the crypto space could help reduce this disparity over time.

Crypto ownership by continent: Asia has the most users

According to various sources, Asia is the continent with the most crypto users. However, the exact percentage of the world's population that owns cryptocurrencies is unknown, with estimates varying. While crypto is theoretically accessible to everyone, some nations are more enthusiastic about digital assets than others.

Global Crypto Ownership Estimates

Market research firm GWI estimates that 10.2% of global internet users aged 16 to 64 own crypto. In contrast, the blockchain firm TripleA estimated the global crypto ownership rate to be around 4.2% as of 2022, with over 320 million crypto users worldwide. This estimate increased to 420 million crypto users in a later study by TripleA in August 2023.

Crypto Ownership by Continent

When it comes to crypto ownership by continent, Asia leads the way. This is largely due to the high number of crypto users in certain Asian countries, such as India, China, the Philippines, and Vietnam.

Country-Specific Crypto Ownership in Asia

• India: India has a large number of crypto owners, estimated to be around 93 million people.
• China: China is estimated to have around 59 million crypto users. However, it is challenging to ascertain the exact number due to the country's complex relationship with crypto.
• The Philippines: The Philippines has seen a surge in crypto demand, thanks to Play-to-Earn (P2E) games and NFTs. It is estimated that 35-40% of the traffic on the NFT-based P2E game "Axie Infinity" comes from the Philippines.
• Vietnam: Vietnam has consistently ranked highly in terms of crypto adoption. In 2021 and 2022, it topped Chainalysis' Global Crypto Adoption Index. The popularity of crypto in Vietnam may be due to the large unbanked population, as well as the untaxed nature of crypto holdings.

Crypto Ownership in Other Continents

While Asia leads in crypto ownership, other continents also have significant adoption rates.

• North America: The United States is one of the top countries in crypto ownership, with around 46 million crypto holders as of 2022.
• Africa: Nigeria has a high crypto adoption rate, with nearly one out of three respondents in a Statista survey mentioning that they owned or used a digital coin.
• Europe: Within Europe, the United Kingdom and Switzerland have relatively high crypto ownership rates. Additionally, Eastern European countries like Ukraine have also embraced crypto, especially during the Russian invasion in 2022.
• South America: South American countries are also among the consumers most likely to own cryptocurrencies.

Crypto ownership by country: India has the most holders

While there is no consensus on how much of the world's population holds cryptocurrencies, estimates vary from 4.2% to 10.2% of global internet users aged 16 to 64 owning crypto. Crypto ownership and adoption rates, however, differ significantly by country.

According to crypto payment gateway Triple-A, India has the highest number of crypto owners, with 93 million people holding cryptocurrencies. This is followed by China with 59 million and the United States with 52 million. However, when looking at the percentage of the population that owns crypto, the United Arab Emirates, the Philippines, and Saudi Arabia have the highest rates of crypto ownership.

India's high number of crypto holders can be attributed to its large population and the country's interest in crypto. As one of the most populous countries, with a population of almost 36% of the global population, India has a significant number of people interested in and adopting crypto.

Additionally, India has a thriving crypto ecosystem, with a growing number of exchanges, startups, and investors focusing on cryptocurrencies. The country has also seen a rise in crypto adoption due to factors such as high inflation or fluctuations in the value of the national fiat currency.

It is worth noting that crypto adoption and ownership rates are dynamic and can change over time as more people gain access to and adopt cryptocurrencies.

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