New Data Show India Leads World with 100 Million Crypto Users

TripleA hopes their report will help shed light on the spending practices of crypto users worldwide.

World Data on Crypto

A new report released by TripleA gives comprehensive information on cryptocurrency ownership in the world. India is the leader in the world with the largest number of cryptocurrency users, with more than 100 million people.

The United States, Russia, Nigeria and Vietnam complete the top five countries which, when combined, only make up one-third of India’s total users. The research proves that crypto has no boundaries as it has found place across the world.

The report by TripleA determined key data to help companies understand how the market is growing. The data gathered shows where customers spend their crypto in the gaming, retail luxury, remittance and luxury sectors.

Notable Statistics

  • Between 2012 and 2021, Bitcoin’s price rose by over 540,000%. 
  • The Bitcoin market cap reached US$1 trillion in February 2021.
  • 79% of crypto owners are male, versus 21% female.
  • 58% of owners are under age 34.
  • Merchants who accept crypto payments saw an average ROI of 327%
  • Crypto remittance is 388 times faster and 127 times cheaper than traditional remittance methods

The report revealed that, as of 2021 only 4 percent of the world owns cryptocurrency. The number of users worldwide grew to more than 300 million. More than 18,000 businesses accept cryptocurrency as a method of payment.

The report relied on country-specific information that came from the 2020 Chainalysis Geography Report to gather data, as well as more than fifteen different surveys by local banks as well as financial institutions. The report was not complete because it didn’t include details for China as well as Brazil two countries that are known for their large crypto fan followings.

The complete report is available on the TripleA site.

What is TripleA?

Established in 2017, with headquarters in Singapore, TripleA is a top cryptocurrency payment company. It is in compliance with MAS (Singapore Central Bank). The company is located in Singapore along with its presence within Hong Kong and Europe. TripleA strives to constantly expand its global reach to change the way that customers and businesses interact by using blockchain technology and cryptocurrency.

A Rundown Of The Highlights

The top 10 countries with the most hodlers show a surprising number of developing nations on the list. Interestingly, China doesn’t appear on the list, which may understate the macro picture. But nonetheless, the top 10 are:

  • India – 100.7 million
  • USA – 27.5 million
  • Russia – 17.4 million
  • Nigeria – 13 million
  • Brazil – 10.4 million
  • Pakistan – 9.1 million
  • Vietnam – 6 million
  • Ukraine – 5.6 million
  • Kenya – 4.6 million
  • Philippines – 4.4 million

What’s more, countries with the highest hodlers as a percentage of the population also throw up some surprises with notable crypto powerhouses, such as South Korea, not making the top 10.

  • Ukraine 12.73%
  • Russia 11.91%
  • Venezuela 10.34%
  • Singapore 9.04%
  • Kenya 8.52%
  • USA 8.31%
  • India 7.30%
  • South Africa 7.11%
  • Nigeria 6.31%
  • Colombia 6.14%

In the last month, after following the legalization of crypto with an almost unanimous vote and a majority vote, Ukraine’s Presidency Zelensky expressed his desire to go one more step and create Bitcoin legally recognized as a currency, just as El Salvador has done.

The media reports suggest President Zelensky developing a strong relationship to President Bukele in the exchange of ideas and strategies for the future of finance of their respective countries.

What do you think?

Written by Adhipics

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