The nations with the highest usage and ownership of cryptocurrencies have been identified by a recent study. The percentage of the population who reported using or possessing cryptocurrencies between 2019 and 2022 was used to establish the ranking.
Nigeria topped the list with 45% of its population utilizing or owning cryptocurrencies in 2022, according Trading Browser, an online gambling resource. This translates to more than 90 million people, or over 1.5 times the population of the UK. Over 34 million people in the country adopted cryptocurrencies between 2019 and 2022, representing a 17% rise in usage and ownership.
Thailand came in second with 44% of its population reporting cryptocurrency usage or ownership, equal to just over 30 million people. Thailand saw the biggest uptake in cryptocurrency with a 21% increase from 23% to 44%.
Turkey came in third with 40% of its population using or owning cryptocurrency in 2022, equating to over 33 million people. The country saw cryptocurrency adoption double from 20% to 40% from 2019 to 2022, with over 16 million people adopting the digital asset.
Also, Argentina was the first South American country on the list, coming in fourth place with 35% of its population using or owning cryptocurrency in 2022. The country has several draft laws to institutionalise and regulate the virtual currency industry, which may change the ownership and usage rate in the near future.
The United Arab Emirates (UAE) came in fifth place with 34% of its population using or owning cryptocurrency in 2022. Minister of State for Foreign Trade, Dr Thani Al Zeyoudi, recently stated that the UAE is looking to expand into cryptocurrencies, which may mean that the 34% figure will increase in the coming years.
The rest of the top ten countries include the Philippines in sixth place, Vietnam in seventh place, India and Singapore tied in eighth place, Brazil in ninth place, and South Africa in tenth place.
Surprisingly, the United States only ranked 22nd on the list with 16% of its population using or owning cryptocurrency. The United Kingdom ranked even lower, coming in at 50th place with only 11% of its population using or owning cryptocurrency.
