Vietnam Ranks In The Top 5 Countries With The Highest Rate Of Crypto Ownership

Key Points:

• As of May 2023, the global cryptocurrency ownership rate stands at 4.2%, representing over 420 million users worldwide, with notable concentrations in India (100 million users), China (58 million users), the United States (45 million users), and Vietnam (20 million users)

According to the recent TripleA data, there are more than 420 million cryptocurrency users worldwide, with the top-highest cryptocurrency ownership, including 100 million users in India, 58 million in China, 45 million in the United States, and 20 million in Vietnam.

Cryptocurrency has firmly established its presence globally, with an estimated average ownership rate of 4.2% worldwide, according to TripleA data as of May 2023. Surpassing 420 million users globally, cryptocurrencies have garnered significant attention, transforming various industries.

The top five countries with the highest cryptocurrency ownership are the United States, India, Pakistan, Nigeria, and Vietnam. The United States leads the pack with 46 million users, followed closely by India with 27 million users. Among the top thereof, the ownership percentage of Vietnam is the highest (20,54%).

1. USA (46 million)
2. India (27 million)
3. Pakistan (26 million)
4. Nigeria (22 million)
5. Vietnam (20 million)

It is worth noting that 63% of cryptocurrency users are male, and 37% are female, while 72% fall under the age of 34. Furthermore, 71% of cryptocurrency owners hold a Bachelor’s degree or higher, showcasing the technology’s appeal among educated individuals.

In e-commerce, over 85% of US merchants prioritize enabling crypto payments. Those who have embraced cryptocurrencies have seen a substantial return on investment, with an average ROI of 327% and up to a 40% increase in new customers. Additionally, cryptocurrency customers spend approximately $250 more per transaction than the average customer.

The luxury industry is also embracing cryptocurrency to enhance customer experiences. As the luxury goods market is projected to reach $1.4 trillion by 2025, luxury brands are accepting cryptocurrencies to cater to the growing millennial customer base. Moreover, limited edition items exclusively available for purchase with cryptocurrencies create a sense of exclusivity and allure.

Cryptocurrency has also made a significant impact on the remittance industry. With digital cross-border remittances projected to reach $428 billion by 2025, cryptocurrency offers a faster and more cost-effective alternative. Already, 15.8% of remitters are utilizing cryptocurrency for money transfers, benefiting from its speed and affordability compared to traditional methods.

The gaming sector has also experienced the influence of cryptocurrency. As the gaming market is set to reach $340 billion by 2027, many crypto owners have utilized cryptocurrencies for online gaming or gambling purchases. Furthermore, nearly half of crypto owners are considering spending their cryptocurrency on gaming activities in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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