According to DataReportal’s annual global overview research, more than one in ten working-age people using the internet possesses some version of crypto.
The worldwide digital intelligence company examined significant developments in people’s online activity. GWI’s data from a study conducted in Q3 2021, which described crypto ownership rates. This is by country and demographics. Additionally, it was used for the report’s crypto portion.
Crypto Adoption
According to the report’s cryptocurrency section, the proportion of individuals who possess cryptocurrency increased by approximately 37.8% in one year. However, taking a closer look at specific country data, it becomes clear that the investment class has proven particularly prominent in emerging economies.
Regarding cryptocurrency adoption, Thailand is clearly in front of the pack. Two out of every ten adults in the country own crypto (20.1 percent). Following Thailand, South Africa (19.4%), the Philippines (19.4%), Nigeria (19.4%), and Turkey (18.6%) emerged as the nations with the highest percentage of crypto adoption.
The survey focused on Turkey because bitcoin possession roughly increased among the country’s population year over year (from 10 percent). This pattern emerged as the country’s currency lost almost 50% of its value in relation to the US dollar.
Moreover, the survey found that cryptocurrency possession is still strongly leaning toward men and less popular among older demographics. According to the survey, just about one out of every 20 online consumers aged 55 to 64 possesses some type of cryptocurrency. According to GWI statistics, cryptocurrency possession is most prominent among people between 25 and 34 years old, with men responsible for 15.5 percent of the population and women for 9.5 percent.
Regulation
It’s unclear how these figures will affect lawmakers in countries considering crypto regulation. Furthermore, it’s uncertain whether governments’ uncompromising attitude towards crypto vs. pro-crypto regulatory regimes directly impacts ownership rates.
According to reports, the United States is ready to make crypto governance a national security issue. With 12.7 percent of its population owning cryptocurrency, the United States currently ranks 14th on the list. In contrast to some of the countries recognized for their crypto-friendly environments. These countries are Portugal (9.7%) and Germany (9%), the nation is above the worldwide average (10.2%).
Russia, also considering a thorough set of regulations, is at the lower end of the list. It only has 2% of the population possessing cryptocurrency.
When asked which entities should be entrusted to oversee cryptocurrency governance, online users aged 16 to 64 in five markets, who have either previously ventured into cryptocurrencies or considered doing so, preferred governments not to get involved.
According to GWI statistics, individuals who have already ventured into cryptocurrency would entrust the duty to cryptocurrency exchanges (32%).
Those interested in investing preferred world economic organizations (26%) and conventional financial entities (26%) to take the reins in governing the emerging market.
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