Cryptocurrency ownership continues to rise in the world. As of August 2023, it is estimated that 420 million people own cryptocurrency; this is well over 4.2% of the global population. Therefore, before getting to exchange in cryptocurrency, check out these mindblowing statistics about cryptocurrencies.
- Cryptocurrency market value is $1.09trillion as of the end of August 2023
- Bitcoin is the most popular cryptocurrency, with a market cap of $506billion
- India is the country with the most crypto owners. There are 103million cryptocurrency owners in India
- Of most cryptocurrency owners in the United States, 66% have at least a bachelor’s Degree.
- At least 80% of cryptocurrency owners deal in Bitcoin.
- As of 2023, crypto scams had reached $75billion.
- 84% of global blockchain patents are chinese owned.
- 70% of cryptocurrency owners are men, while women represent the other 30%
Which countries have the highest crypto ownership?
India
India is the country where most people have cryptocurrency. According to Chainalysis 2022 Crypto Adoption Index Report, 103million+ Indians own cryptocurrencies, a staggering 7.2% of the total Indian Population. However, up to now, there still needs to be a clear framework for crypto possession in the subcontinent.
China
China is the country with the second largest population of cryptocurrency holders after India. Approximately 78 million people in China own cryptocurrency, a staggering 5.5% of the country’s population. China is one of the world’s largest economies that has actively sought to incorporate crypto as part of the economy. For instance, The People’s Bank of China suggests the development of the Central Bank Digital Currencies (CBDC) and the digital Yuan e-CNY to facilitate crypto exchanges in the country. However, China is also the country that has the most crackdowns against cryptocurrency.
The United States
The United States of America has the world’s third-largest number of cryptocurrency owners. As per Forbes Magazine, the country has 46million cryptocurrency owners, 13.7% of the country’s population. However, the research found that about 44% of crypto owners in the United States make an annual income of at least $100,000. This is an indication that mostly wealthy people own crypto. Also, the majority of crypto owners, 82%, are aged between 11-44 years. A study by Triple A found that Bitcoin is the most popular cryptocurrency among owners in the US; 73% have Bitcoins, followed by Ethereum at 52%, which shows the currencies’ stability in the country.
Furthermore, other countries with high cryptocurrency ownership include Vietnam (20 million people, 20% of the population), Pakistan (15.4 million, 6.4% of the population), and the Philippines (15.3 million, 13.02% of the population).
Which is the most popular cryptocurrency
Bitcoin is the most popular cryptocurrency. Forbes estimates that in 2023, 90% of crypto owners have its knowledge. In the United States, for example, Triple A found that 97% of crypto owners think Bitcoin is a great investment tool. The second most popular cryptocurrency is Ethereum, known by 50% of the respondents.
Furthermore, Dogecoin (45%), Binance Coin (36%), USD Coin (27%) and Tether (26%) are some other popular cryptocurrencies.
How many cryptocurrencies are there?
As of 2023, there are over 21000 different types of cryptocurrencies. They include digital currencies such as Bitcoin, Ethereum, Dogecoin, Tether, and Solano. In addition, they include stablecoins such as USD Coin, Binance Coin, Paypal USD, and many others. Also, special types of digital creations, the Non-Fungible Tokens (NFTs), fall under that category.
What is the value of cryptocurrencies?
As of August 24, 2023, the crypto market cap was $ 1.09 trillion. However, Bitcoin is the most valuable cryptocurrency with a $ 506 billion market cap, 46.42% of the total cryptocurrency valuation. As per the CoinGecko daily crypto monitoring report, stablecoins, as of August 24th, 2023, capped $ 124 billion, a total of 11.4% of the market share.
What are some cryptocurrency frauds?
According to the Chinalysis report, crypto owners lost over $ 3.8 billion in crypto through various frauds in 2022 alone. The amount represented a 15% increase from 2021, which increased crypto losses to about $75billion. Persona reported that in the first quarter of 2023, there were reported 57 crypto theft incidents. In addition, as per CNBC News, in 2022, when the value of cryptocurrency dropped by 60%, most cryptocurrency owners (60%) saw cryptocurrency as a highly risky investment.
Summary
When dealing with cryptocurrency, it is important to understand the field and learn about the existing trends and statistics. India has the largest population that owns crypto despite a lack of government regulation. In addition, cryptocurrency ownership has experienced theft, misappropriations, and scams. Therefore, it is necessary to be cautious when dealing with it.
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