Cryptocurrency

US has highest number of crypto owners, but Vietnam is top for percentage of ownership

A Quote From A Crypto Business Solutions Company Triple A The United States leads cryptocurrency ownership with 46 million holders, almost double India’s 27.4 million in second place.

However, when it comes to cryptocurrency ownership, the United States comes in third at 13.7%. Vietnam, by contrast, tops the rankings for this indicator, with one in five women (20.3%) owning cryptocurrencies.

twitter account @DocumentingBTC I made a table of the top 7 countries and included a map of cryptocurrency ownership taken from the Triple A website. This map shows Asia as the continent with the highest absolute ownership, with 130 million people. Last was Oceania, with just 1 million owners based in the region.

Crypto ownership projected to rise further

According to Triple A, cryptocurrency adoption is set to grow on a global scale. Current estimates put the number of global cryptocurrency users at 320 million, with an average of 4.2% of the world owning digital assets.

According to the ownership demographics, 63% are male, 37% are female, and nearly three-quarters (72%) are under the age of 34. According to researchers, the average annual income for cryptocurrency holders is $25,000.

Latest data from world bank showed that the net national income per capita in 2020 was $8,784. This is down from her $9,274 in 2019.

It’s not an ideal comparison, but the years don’t match and the World Bank data don’t pull all countries evenly, so Eritrea’s contribution, for example, is from 2011, compared to cryptocurrency holders. The difference in income across the world is clear.

Why is cryptocurrency so popular in Vietnam?

Vietnam ranked 5th in the world for the number of cryptocurrency holders, but was the country with the highest percentage of cryptocurrency ownership.

2021 article from Vietnam Daily We examined why cryptocurrencies are so popular in the country. Based on discussions with Vietnamese users, we have compiled a list of reasons that explain the phenomenon. It said:

  • Traditional investments in legacy finance have limited access
  • Almost 70% of the population does not have a bank account
  • Older Vietnamese store their wealth in gold, but younger generations tend not to
  • Cryptocurrencies make sending money abroad easier
  • Digital Assets Seen Safer Due To Historic Cases Of Government Foreclosures

Note that physical cash is still the most common method of transaction in Vietnam, while digital/card payments are relatively rare.

Based on this information, cryptocurrencies are popular in Vietnam, filling the void left by the woefully inadequate legacy system.

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