India was in seventh place with almost 15.4% of respondents saying they own at least one cryptocurrency.
Nigerian internet users have the highest cryptocurrency ownership rates in the world, followed by Malaysia and Australia, according to data from comparison company Finder.
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The company surveyed more than 41,000 people in 22 countries to measure the growth and adoption of cryptocurrencies.
Japan ranked last on the list with just 4.6% of the population owning the virtual asset. India was in seventh place with almost 15.4% of respondents saying they own at least one cryptocurrency.
Among all crypto assets, Bitcoin has become the most popular, with the highest adoption seen in Japan with 76.7% reporting ownership. This despite the fact that the overall adoption of cryptocurrency is the lowest in the country. Users in South Africa and Singapore are the next major owners of Bitcoin.
According to the Cryptocurrency Adoption Index, around 57% of Indian cryptocurrency owners have invested in Bitcoin.
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Ethereum has become the most popular crypto asset in Singapore, with 52.4% of users. Almost 26% of Indian users own Ethereum.
Memes-based Dogecoin saw its highest adoption in the United States with 30.6% of crypto owners claiming to own it. Meanwhile, 16.9% of Indian users report owning the crypto asset.
In India, nearly 48% of women have invested in at least one cryptocurrency, compared to 52% owned by men, indicating that both sexes are on par in terms of ownership. This contrasts with other countries like Japan and Norway where less than 30% of women own the asset.
The findings come at a time when several countries, including India, are deliberating on the legitimacy and security of the virtual asset.
More recently, China has declared all cryptocurrency transactions illegal, while U.S. lawmakers have called for tighter regulations.