Global Crypto Investors: Exploring The Percentage

Cryptocurrency is a digital currency that uses cryptography to secure transactions. It is decentralized, meaning it is not controlled by any central authority like a government or financial institution. The global cryptocurrency market is growing, with an estimated value of US$51.53 billion in 2024 and a projected value of US$1,902.5 million by 2028. This growth is driven by increasing adoption by individuals and institutions, the rise of decentralized finance, and the potential for cryptocurrencies to serve as a hedge against inflation. As of 2024, the global crypto ownership rate is 15%, with India leading at 29% and Germany at 6%. The United States has the highest number of crypto users at 33.7 million, and it also leads in Bitcoin trading volume.

Global crypto ownership rate in 2022

The number of people investing in cryptocurrencies has been increasing. In 2022, more than a tenth of working-age internet users owned some form of cryptocurrency, with the figure rising to more than a fifth in Thailand. This number jumped by more than a third since 2021.

In 2023, about 17% of American adults had owned cryptocurrency. In the same year, a survey by Statista found that consumers from countries in Africa, Asia, and South America were most likely to own cryptocurrencies. In Nigeria, for instance, nearly one out of three respondents mentioned that they owned or used a digital coin. In contrast, only 6% of respondents in the United States said they owned or used cryptocurrencies.

In 2024, the global user base for digital currencies reached 562 million people, or 6.8% of the global population. Asia had the highest number of cryptocurrency owners, with 326.8 million, followed by North America with 72.2 million. The United Arab Emirates and Singapore topped the chart with the highest ownership rates, with 25.3% and 24.4% respectively.

Crypto ownership by age and gender

There is no definitive data on the percentage of the world that invests in cryptocurrency. However, according to a 2022 report by TripleA, a Singapore-based blockchain firm, the global crypto ownership rate is around 4.2%, with over 320 million crypto users worldwide. Another source, Finbold, puts the figure at 10.2% of the global population that uses the internet.

According to a November 2022 online survey, men in the United States were nearly three times more likely to own crypto than women. This trend was also observed in the United Kingdom, where men were three times more likely to own crypto than women as of November 2022.

The gender gap in crypto ownership is not limited to these two countries. A study from Spain found that females have much lower acceptance and usage rates of decentralised finance (DeFi) than men due to several factors, including a lack of investment experience, general lack of knowledge about cryptocurrencies, and risk aversion.

In terms of age, crypto ownership is more concentrated among younger individuals. In the United States, a July 2023 Morning Consult survey found that 26% of millennials owned Bitcoin, compared to 14% of all US adults. Similarly, data from Finbold shows that crypto ownership is mostly concentrated among individuals aged between 16 and 44 years.

Crypto ownership by continent

While there are no official sources outlining crypto ownership statistics by continent, we can infer some general trends from available data. Crypto ownership rates vary across the globe, with consumers from countries in Africa, Asia, and South America being the most likely to own cryptocurrencies in 2024.

North America

In North America, about 20% of Americans own cryptocurrency, with approximately 40% of them perceiving it as an inflation hedge. The UK owns 18% of the world's cryptocurrencies, with popular coins including Litecoin, Ethereum, and Bitcoin.

South America

In South America, Brazil stands out with 41% of its population owning cryptocurrency. The devaluation of their traditional currency against the US dollar has driven many Brazilians to explore crypto, with 45% planning to purchase crypto coins. Additionally, 66% of Brazilians have either invested in or considered crypto as the "future of money."

Asia

Asia is home to some of the highest crypto-owning countries globally, including India, China, and the Philippines. Indonesia ties with Brazil, with 41% of its population holding cryptocurrencies. In the United Arab Emirates (UAE), 35% of the population owns crypto, and 49% are "crypto curious," indicating a positive perception of it as a potential future investment.

Europe

In Europe, the United Kingdom and Switzerland are notable for their crypto adoption rates. While exact figures for European countries are not specified, a significant number of crypto owners are present in these regions.

Oceania

New Zealand is mentioned as one of the top countries with a notable percentage of crypto ownership, although specific numbers are not provided.

Africa

Africa, particularly Nigeria, has a high crypto ownership rate, with nearly one out of three respondents in a survey indicating crypto ownership or usage.

Crypto ownership by country

As of 2024, global cryptocurrency ownership is estimated at an average of 6.8%, with over 560 million crypto owners worldwide. This figure has grown rapidly, with a compound annual growth rate (CAGR) of 99% from 2018 to 2023, far exceeding the growth rate of traditional payment methods.

Crypto ownership rates vary by country and region. Consumers in Africa, Asia, and South America were most likely to own cryptocurrencies in 2022 and 2024. In Nigeria, for instance, nearly one out of three respondents to a survey mentioned they owned or used a digital coin, while in the United States, only six out of 100 respondents did. Other countries with high crypto ownership rates include the United Arab Emirates, the Philippines, and Saudi Arabia.

Some countries are more likely to use cryptocurrencies for daily transactions than others. For example, Nigeria has a growing culture of using mobile money operations to pay in stores or send money to family and friends. In Poland, consumers could buy various products with cryptocurrency in 2019. On the other hand, some countries, like Vietnam, forbid the use of cryptocurrencies as a payment method but allow owning them as an investment.

When it comes to investing in cryptocurrencies, professional investors in Europe were more likely to be interested in cryptocurrency-themed ETFs than those in the United States or China, according to a 2020 survey. The largest crypto hedge fund managers in Europe in 2020 were based in the United Kingdom and Switzerland, with the latter having the highest crypto adoption rate in the region.

Crypto ownership by income

While there is no consensus on the percentage of the world that invests in cryptocurrencies, estimates range from 4.2% to 10.2% of the global population. Crypto ownership is skewed towards males, with 70% of owners being men, according to a Morning Consult report.

Crypto ownership is also more prevalent among higher-income individuals. In the United States, for example, those earning $100,000 or more annually make up 25% of crypto owners, while only accounting for 15% of the general public. This disparity is even more pronounced when examining global crypto ownership by age and gender. Males aged 25-34 represent the largest demographic of crypto owners, with 15.5% ownership, while females in the same age group have a much lower ownership rate of 9.5%.

Geographically, crypto ownership rates are higher in developing countries that have experienced economic turmoil and high inflation, such as Nigeria, the Philippines, and India. These countries also have a large unbanked population, and cryptocurrencies provide an alternative means of accessing financial services without relying on traditional banks.

The appeal of cryptocurrencies in these countries is further enhanced by their decentralised nature, eliminating the need for intermediaries like banks. However, the lack of regulation in the cryptocurrency sector has led to concerns about its potential to destabilise traditional financial systems.

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