A recent survey reveals the global crypto adoption index and the rising interest of masses around the globe in cryptocurrencies. In total, there are over 420 million crypto users worldwide.
According to a recent study by TripleA, a crypto platform, among the total 420 million users, US and India account for the largest share. The report says that as of May 2023, cyptocurrency has firmly established its presence globally, with an estimated average ownership rate of 4.2% worldwide.
Crossing 420 million users globally, cryptocurrencies have created a significant attention, transforming various industries. The top five countries with the highest cryptocurrency ownership are the United States, India, Pakistan, Nigeria, and Vietnam.
Notably, 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%).
- USA (46 million)
- India (27 million)
- Pakistan (26 million)
- Nigeria (22 million)
- Vietnam (20 million)
Divisions based on gender reveals that along the crypto investors, 63% of users are male, and 37% are female, while 72% fall under the age of 34. Furthermore, 71% of cryptocurrency owners have completed secondary education and hold a Bachelor’s degree or higher, showcasing the technology’s appeal among educated individuals. Additionally, in e-commerce, over 85% of US merchants prioritize enabling crypto payments.
Those who have embraced cryptocurrencies have seen a substantial return on investment (ROI) with an average ROI of 327% and up to a 40% increase in new customers. Simultaneously, the study reveals that cryptocurrency customers spend approximately $250 more per transaction than the average customer.
According to the report, 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 have also been increasingly accepting cryptocurrencies to cater to the growing customer base. Moreover, limited edition items exclusively available for purchase with cryptocurrencies create a sense of exclusivity and lucrative.
Cryptocurrency has also made a significant impact on the remittance sector. With digital cross-border remittances projected to reach $428 billion by 2025, cryptocurrency offers a faster and more cost-effective alternative. Reportedly, already, 15.8% of remitters are utilizing cryptocurrency for money transfers, benefiting from its speed and affordability compared to traditional methods.
Simultaneously, the gaming industry 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. However, the study reveals positives for cryptocurrencies in all major domains along with increasing ownership.