The adoption of cryptocurrencies is progressing heterogeneously, but globally. That’s the conclusion of a report from Triple A, which states that 4% of the world’s population reportedly already owns cryptocurrencies.
The world’s population is gradually turning to cryptocurrencies
In total, 320 million of the world’s population would now be using cryptocurrencies. If we refer to the most numerous holders, the United States leads with 46 million holders, followed by India (27 million), Pakistan (26 million), Nigeria (22 million) and Vietnam (20 million).
If we refer to the percentage of the population holding cryptocurrencies, however, the leading countries change. Vietnam then comes in first, with an impressive 20% of its population, followed by Ukraine (15%) and the US (13%). South Africa and Kenya close the top 5 (12 and 11% respectively).
France comes 19th in terms of population owning cryptocurrencies (3.4 million people), which is 5% of its population. We note, however, that our study conducted with Adan and KPMG France, which we published last February, estimated this share at 8% instead.
Other indicators of gradual adoption
One notable feature of the current bear market is that it doesn’t seem to be stopping companies from continuing to invest in Web3 and embrace cryptocurrencies. Triple A’s report cites several numbers to support this trend. For example, more than 85 percent of U.S. merchants reportedly see the future acceptance of cryptocurrencies as a “high priority.”
Furthermore, international money transfers are also transforming: when done with cryptocurrencies, they are on average 388 times faster and 127 times cheaper.
However, cryptocurrency holders still fit a rather narrow profile. 72% are 34 years old or younger, 63% are male, and 71% have an education level equivalent to a bachelor’s degree or higher. Wider adoption by the global population will therefore require reaching out to the other categories.