Posted on November 23, 2024

The data on cryptocurrency holdings per country isn't typically aggregated in a single, publicly available source. However, estimated breakdowns based on available reports and analyses provide some insight. These numbers are rough estimates due to cryptocurrency ownership's decentralized and private nature. As of 2024, global cryptocurrency ownership rates are estimated to average 6.8%, with over 560 million cryptocurrency users worldwide. According to the U.S. Census Bureau, the world population on January 1, 2024, was 8,019,876,189, so we are still at the beginning of cryptocurrency adoption. This suggests a promising future for the widespread adoption of cryptocurrencies.

Here are the top 30 countries with the highest cryptocurrency adoption:

1. India has an estimated 100 million cryptocurrency holders. India leads with widespread adoption driven by high interest in alternative investments and significant financial and technology (fintech) innovation. The large population and increasing digital literacy contribute to its massive cryptocurrency user base.

2. China has an estimated 59 million cryptocurrency holders. Despite government restrictions, China has significant underground adoption, mining activity, and a strong community of cryptocurrency users.

3. The United States, with a robust cryptocurrency market boasting 52 million holders, is a prime example of the potential for further growth. This growth is driven by investments, trading, and increasing business acceptance. The evolving regulatory environment hints at the exciting potential for further expansion in this dynamic market.

4. Pakistan has 26 million cryptocurrency holders. Its increasing adoption is primarily due to the urgency of economic instability, pushing people towards alternative financial solutions. This underscores the importance of understanding the role of economic factors in cryptocurrency adoption.

5. Nigeria has an estimated 25 million cryptocurrency holders. The high adoption rate in Nigeria is driven by economic instability, high inflation, and a large youth population seeking alternative financial solutions. Cryptocurrencies offer a way to hedge against currency devaluation, facilitate remittances, and participate in global financial markets, making them increasingly popular in the country.

6. Vietnam has an estimated 20 million cryptocurrency holders or 21.2% of the country's population. Its adoption rate is high due to vigorous retail activity, the popularity of remittances, and a young, tech-savvy population.

7. Russia has an estimated 20 million cryptocurrency holders. Its adoption rate is growing despite regulatory uncertainty, driven by investment interest and economic factors.

8. The Philippines has an estimated 15.8 million cryptocurrency holders. The Philippines sees high adoption due to remittances and a growing fintech sector, with many users turning to cryptocurrencies for better financial inclusion.

9. Indonesia has an estimated 12 million cryptocurrency holders. The growing adoption of cryptocurrencies in Indonesia is driven by a large unbanked population, increasing fintech activity, and a young, tech-savvy demographic. Cryptocurrencies provide an alternative financial system for those who lack access to traditional banking services, and the country's expanding digital economy further supports this trend.

10. Iran has an estimated 12 million cryptocurrency holders. The adoption in Iran is driven by economic sanctions, inflation, and currency devaluation, which make cryptocurrencies an attractive alternative for preserving value and conducting international transactions. Additionally, Iran has significant mining activity due to relatively low electricity costs, contributing to its growing cryptocurrency user base.

11. Brazil has an estimated 10 million cryptocurrency holders. Brazil's adoption is driven by investment interest and economic instability, with many people turning to cryptocurrencies for financial security.

12. Japan has an estimated 8.82 million cryptocurrency holders. Its adoption of cryptocurrencies is significant due to investment interest, technological advancements, and solid regulatory support.

13. Mexico has an estimated 8.5 million cryptocurrency holders. Mexico's adoption is driven by remittances and investment interest, with cryptocurrencies offering a viable financial solution for many people.

14. Thailand has an estimated 7.02 million cryptocurrency holders. Its strong adoption rate is driven by investment interest and a robust tech sector, with growing acceptance among businesses.

15. Ukraine has an estimated 6.5 million cryptocurrency holders or 15.72% of the total population. Ukraine has solid grassroots adoption, with significant usage for remittances and trading driven by economic factors and tech-savvy users.

16. South Korea has an estimated 6.5 million cryptocurrency holders. The high adoption rate is driven by solid investment interest, technological advancements, and a robust financial and technology (fintech) sector. The country's tech-savvy population and supportive regulatory environment have also contributed to the widespread use of cryptocurrencies for trading, investment, and everyday transactions.

17. Kenya has an estimated 6.1 million cryptocurrency holders. The adoption of cryptocurrencies in Kenya is facilitated by the widespread use of mobile money systems, a strong fintech sector, and economic challenges that drive people to seek alternative financial solutions. Cryptocurrencies offer a convenient and accessible option for transactions, remittances, and savings, contributing to their growing popularity in the country.

18. South Africa has an estimated 6.1 million cryptocurrency holders. Its adoption is driven by investment interest and economic instability, and many users are turning to cryptocurrencies.

19. Germany has an estimated 6 million cryptocurrency holders. Germany's growing adoption is driven by investment interest and increasing acceptance by businesses, with a strong focus on regulatory compliance.

20. Turkey has an estimated 5.1 million cryptocurrency holders. Turkey's high adoption rate is driven by economic instability and strong investment interest, with many using cryptocurrencies as a hedge against inflation.

21. France has an estimated 4.85 million cryptocurrency holders. Its adoption rate is growing due to investment interest and increasing acceptance by businesses, and its regulatory framework is supportive.

22. Malaysia has an estimated 4.7 million cryptocurrency holders. Its adoption is growing due to investment interest, a strong tech sector, and the increasing use of cryptocurrencies.

23. The United Kingdom has an estimated 4.7 million cryptocurrency holders. Its high adoption is driven by investment interest and increasing acceptance by businesses, and a favorable regulatory environment supports growth.

24. Australia has an estimated 4.6 million cryptocurrency holders, and 17.7% of Australians report owning at least one cryptocurrency. Australia's adoption is driven by investment interest and increasing acceptance by businesses, supported by a favorable regulatory environment.

25. Argentina has an estimated 4.5 million cryptocurrency holders. The adoption of cryptocurrencies in Argentina is primarily driven by the need to hedge against inflation and economic instability. Many Argentinians use cryptocurrencies to preserve their assets' value and protect against the national currency's devaluation. The country's economic challenges have made digital assets an attractive alternative for financial security and investment.

26. Bangladesh has an estimated 4.31 million cryptocurrency holders. The adoption of cryptocurrencies in Bangladesh is driven by the need for remittances, financial inclusion, and economic instability. Much of the population is unbanked, and cryptocurrencies offer an accessible alternative for financial transactions and savings. The growing awareness and interest in digital assets also contribute to the country's increasing number of cryptocurrency users.

27. Saudi Arabia has an estimated 4.2 million cryptocurrency holders. The country's adoption is driven by investment interest and economic diversification efforts as part of the Vision 2030 initiative. The country's population is increasingly tech-savvy, and there is growing interest in alternative investment opportunities, including cryptocurrencies

28. Egypt has an estimated 3.5 million cryptocurrency holders. The adoption of cryptocurrencies in Egypt is driven by economic instability, currency devaluation, and a growing fintech sector. Many Egyptians turn to cryptocurrencies as an alternative investment and a way to preserve the value of their assets amidst economic challenges. The increasing digital literacy and access to technology also contribute to the growing interest in cryptocurrencies in the country.

29. Colombia has an estimated 3.1 million cryptocurrency holders. Due to remittances and a growing financial and technology (fintech) sector, cryptocurrencies are seeing high adoption and becoming an essential financial tool.

30. Venezuela has an estimated 3 million cryptocurrency holders. The adoption of cryptocurrencies in Venezuela is driven by the need to hedge against hyperinflation and economic instability. Many Venezuelans turn to cryptocurrencies as a more stable store of value than the national currency and to facilitate international transactions amidst economic challenges.

These countries exhibit diverse reasons for high cryptocurrency adoption, ranging from economic instability and inflation to technological advancements and favorable regulatory environments. The numbers reflect the estimated number of individuals engaged with cryptocurrency through holding, trading, or using it for transactions.