Top 10 Countries with the Highest Cryptocurrency Ownership Rates

Overview

Based on a graphic created by Marcus Lu of Visual Capitalist, we can rank the top 10 countries according to their rates of cryptocurrency ownership. This percentage represents the portion of the population that owns cryptocurrency. The data, provided by the crypto payment gateway Triple-A, is up-to-date as of 2023.

Data Highlights

The table below provides the rates of cryptocurrency ownership in the top 10 countries, as well as the corresponding number of people. Interestingly, if we were to rank countries based on the actual number of cryptocurrency owners, India would top the list with 93 million people, followed by China with 59 million people, and the U.S. with 52 million people.

UAE: The Global Leader in Crypto Ownership

The United Arab Emirates (UAE) stands out with the highest rates of cryptocurrency ownership worldwide. The UAE government is renowned for its crypto-friendly stance, as detailed in the Crypto Wealth Report 2023 by Henley & Partners. The Financial Services Regulatory Authority (FSRA-ADGM) in the UAE was the pioneer in setting rules and regulations for buying and selling cryptocurrencies. The Emirates are generally receptive to new technologies and have proposed zero taxes for cryptocurrency owners and businesses.

Vietnam: The Leader in Southeast Asia

As per the Crypto Council for Innovation, cryptocurrency holdings in Vietnam are also tax-free, making them an appealing asset. Vietnam's high rates of ownership might also be attributed to its large unbanked population (people without access to financial services). Cryptocurrencies could offer an alternative way to access these services without the need for traditional banks.

If you found this post interesting, you might also want to check out "The World’s Largest Corporate Holders of Bitcoin", which ranks the top 12 publicly traded companies by their Bitcoin holdings.

Authored by Tyler Durden

Published on Wed, 05/08/2024 - 22:55

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