Global adoption of cryptocurrencies has risen to 562 million, marking a 34% increase from 2023.
The significant growth shows the growing reach of digital assets which are now owned by about 6.8% of the world population., according to Nairametrics.
Triple A’s report revealed that there are now 562 million cryptocurrency owners worldwide, providing a detailed analysis of the leading countries in crypto ownership and the regions that experienced the greatest increase in crypto ownership over one year.
Asia analysts believe the surge in cryptocurrency ownership can be ascribed to regulatory agencies of various countries setting clear guidelines, and promoting market integrity and investor confidence. Examples of such regulatory bodies include the Monetary Authority of Singapore (MAS) and the European Union.
For the methodology used by Triple-A to report the latest Global Digital currency ownership data, Triple-A utilized Country Weighted Scoring, Outlier Research, and Primary Data Collection to obtain the most wholesome and accurate set of statistics in conjunction with the various data sources evaluated.
The report reflected the seeming gender gap in global cryptocurrency adoption. The report revealed that 61% of global cryptocurrency owners are male while 39% are female.
Nigeria has the highest number of crypto owners in Africa with about 47% of the population (22 million people) owning cryptocurrencies, claiming the 11th position ahead of Kenya (ranked 19th), according to Forbes.
Regulating crypto in Africa continues to pose the most significant obstacle to its adoption, as seen recently in Nigeria. Nigerian authorities are currently in a dispute with Binance Limited, the world’s largest cryptocurrency exchange, which has resulted in the detention of Binance executives. The government has also moved to ban other cryptocurrency exchanges engaging in peer-to-peer trading which it accused of manipulating the local currency.
