Though 300 million worldwide crypto users may appear to be a significant achievement. The worldwide monetary system that the crypto sector envisions for the globe is still a long way off. To put that in perspective, 300 million people is only 3.8% of the world’s population (7.9 billion). or 5.8% of the entire population on the planet between the ages of 15 and 65 (5.1 billion). The good news is that crossing those percentages in terms of global usage is a huge accomplishment that propels Bitcoin and blockchain technology beyond the developing stage and into early adoption.
We may also measure crypto adoption on a country-by-country basis, in addition to demographics. There are nations that are more ahead of the trend in regards to crypto usage due to a variety of reasons that prevail in each country around the world, ranging from economic to regulatory. These countries are shown below, with rankings based on a recent Statista study.
#1 Nigeria – 32%
The African nation, which has a population of about 200 million people, is at the top of the list, with a younger, more tech-savvy demographic. Almost a third of Nigerians questioned by Statista had used or owned cryptocurrency at some time, owing to the fact that most Nigerians are competent at sending money and paying using their phones.
#2 Vietnam – 21%
This fast-growing Southeast Asian nation of roughly 100 million people has seen a surge in crypto adoption. with activities ranging from trading and peer-to-peer (P2P) to payments and other services. Crypto traders are were alleged to have made $400 million in 2020, according to Chainalysis.
#3 Philippines -20%
This is another Southeast Asian country with a comparable demographic and economic condition to Vietnam. The island nation has demonstrated its ability to embrace cryptocurrency. The country’s central bank has granted crypto businesses licenses, and the government is using a blockchain program to distribute bonds. The country is becoming a hotbed for blockchain-based play-to-earn games at the grassroots level.
#4 Turkey -16%
This country, located at the crossroads of Europe and Asia, has grown to the point where crypto firms now sponsor national football teams. While football clubs also provide blockchain-based fan tokens. Some Turkish citizens have publicly said that Bitcoin is their major investment option. This is unexpected given the country’s $300 million in Bitcoin profits last year.
#5 Peru – 16%
Latin America has been a hotspot for cryptocurrency adoption. Nations like Argentina, Brazil, and Venezuela are seeing a lot of activity in response to their economic difficulties. While crypto usage reached double digits in at least six Latin American countries, Peru is the most advanced of these countries.