Thailand comes second with 44% of its population reporting using or owning cryptocurrency, or just over 30 million people. Thailand saw the greatest cryptocurrency adoption with a 21% increase from 23% to 44%.
Turkey came third with 40% of its population using or owning cryptocurrency in 2022, which equates to over 33 million people. The country has seen cryptocurrency adoption double by 20% to 40% from 2019 to 2022, with over 16 million people adopting the digital asset.
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 bills to institutionalize and regulate cryptocurrency. virtual currency industry, which may change ownership and use. 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 were looking to expand into cryptocurrencies, which could mean the 34% figure will rise 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 for 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 UK ranked even lower, coming in at 50th place with only 11% of its population using or owning cryptocurrency.
The study highlights the growing popularity of cryptocurrency in Africa and Southeast Asia, with Nigeria and Thailand leading the way. It also shows that South Africa is also starting to adopt cryptocurrency, with over 13 million people using or owning the digital asset.
The study recalls the growing importance of cryptocurrencies and their impact on the global economy. As more and more people embrace digital assets, it is important for countries to review their stance and regulations on cryptocurrencies to ensure they are able to take full advantage of this new industry by full growth.
