On Friday, the product comparison website Finder published the company’s August Cryptocurrency Ownership Report, which surveyed 42,040 citizens across 27 countries. The report ranks countries by digital currency adoption and it shows regions like Vietnam, Indonesia and India have the highest number of people who reported owning cryptocurrency.
In Terms of Crypto Ownership Vietnam, Indonesia, and India Rule the Roost
Finder’s Cryptocurrency Ownership Report published on August 13, 2021, has some interesting findings after the researchers polled over 42K people. Basically the researchers measured crypto asset ownership from people in each country and the survey covers a total of 27 countries.
According to the Finder’s poll, men are more likely to own a digital asset in every country covered in the survey. The gender gap between ownership is around six percentage points, the writer at Finder, James Edwards detailed in the report.
The largest amount of crypto ownership stems from Vietnam as the study claims 41% of Vietnamese own cryptocurrencies. In Indonesia, 30% of citizens own crypto assets and India has around 30% as well.
While Vietnam boasts the largest percentage of holders, the country joins Singapore, the Philippines, and Ireland with the largest gender gap (9-11%), the research highlights. Meanwhile, Portugal, South Korea, and New Zealand command the smallest gender gap (1-2%).
“Remittance payment may have played a significant role in these numbers, with cryptocurrency an option for migrants who want to send money home and avoid exchange fees,” Edwards wrote.
Spain, UK, US, Germany, and Japan Show the Least Amount of Crypto Ownership
Following the top three countries with large ownership percentages, Malaysia (29%), the Philippines (28%), Belgium (26%), Hong Kong (26%), South Korea (23%), Brazil (22%), and Italy (21%) follow respectively. The last five countries in the list of 27, that show the least amount of cryptocurrency ownership, include Spain (12%), Japan (11%), Germany (11%), the United States (9%), and the United Kingdom (8%).
This is a stark contrast to the way things are described in the media, as the U.S., U.K., and Japan are often highlighted as hotbeds of cryptocurrency adoption. Meanwhile, a number of countries in South America are often noted as having high adoption rates, typically naming Venezuela.
Finder’s survey does not disclose adoption levels in Venezuela but below Brazil’s 22%, Colombia shows it has around 14% in terms of crypto ownership percentages. The Finder poll indicates that for all 27 countries, roughly 1,160 and 2,511 citizens per country were surveyed for the ownership report.
“The report reveals that bitcoin still reigns supreme despite speculation that ethereum could become the most widely transacted cryptocurrency,” Edwards said. “Bitcoin had the highest adoption rates in every single country,” he added.
What do you think about Finder’s poll that surveyed over 42,000 people in 27 countries? Let us know what you think about the Finder’s survey in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons