Crypto

Cryptocurrency Adoption Growing Globally According to Triple A – BeinCrypto

Despite the repression of a number of countries against the general adoption of cryptocurrencies, they are gaining users around the world. The last two years have been decisive in this acceptance. At present almost 4.2% of the world’s population have belonging cryptocurrencies (320 million).

Profile of cryptocurrency users around the world

On all continents, many users began to join the cryptocurrency market during the 2021 bull rally. Recall that the annual growth rate of Bitcoin in 2021 was 60%, and the market capitalization of the market reached a peak of $3 trillion.

The arrival of institutional investors also contributed to the emergence of cryptocurrencies. In fact, according to a survey conducted by Deloitte, 85% of US merchants surveyed say accepting payments in cryptocurrencies is a priority. The data shows that merchants who accepted crypto payments had an average ROI of 327%.

Today there are 320 million users worldwide. This figure has tripled from a Cambridge University report that found there were 101 million in the third quarter of 2020. The representation of women is still low: only 37% versus 63% of men. Also note that cryptocurrency holders have an annual income of $25,000, and 71% of them are licensed or have a higher level of education.

Young people are more inclined to use cryptocurrencies. In a report by Triple A, a cryptocurrency payments company, 72% of crypto users are under 34 years of age. In terms of cryptocurrency spending, in 2021, 25.1% use it to buy or play online games. According to forecasts, this number may well rise to 48.6% of cryptocurrency holders.

Focus on Africa

After Asia, Africa is the second continent with the most cryptocurrency users. Thus, inflation and low financial inclusion have contributed to the adoption of cryptocurrencies among the population with low incomes, which seeks to find an alternative to the high transaction costs of banks.

According to the global rankings, the US is second on the list with 46 million users, but that’s only 13.74% of the population. The Vietnamese, of course, are only in fifth place, and there are only 20 million of them, but this makes up 20.27% of the country’s population. Nigeria, with 22 million cryptocurrency holders, is in fourth place after India and Pakistan, which have 27 and 26 million users respectively.

Currently, 10.34% of Nigeria’s population owns cryptocurrencies compared to 11.60% in Kenya and 12.45% in South Africa. These numbers are well above France at 5.04% or Canada at 3.49%.

Recall that this year the Central African Republic became the first country in Africa to accept bitcoin as legal tender. In addition, we can also mention a project called Sango, which is tokenize the mining resources of the country.

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