A recent study ranking countries by their cryptocurrency ownership rates reveals the United Arab Emirates (UAE) as the front-runner. According to CEO World Magazine, the UAE boasts the highest percentage of its population invested in cryptocurrencies, followed closely by Vietnam and the United States.
This increase in cryptocurrency adoption can be attributed to favorable regulations, technological advancements, and economic changes within these countries.
While the UAE leads in ownership percentage, India, China, and the U.S. have the highest total number of cryptocurrency owners.
Here is the list of the top 10 countries in cryptocurrency ownership:
1. United Arab Emirates (UAE)
In the UAE, 30.39% of the population owns cryptocurrency, supported by the country’s progressive blockchain policies and legal recognition of digital currencies. The government’s initiatives to turn Dubai and Abu Dhabi into major blockchain centers have attracted a large number of domestic and international crypto users.
2. Vietnam
Vietnam is second, with 21.19% of its citizens engaged in the crypto market. The country’s rapid digital growth and strong fintech presence have made cryptocurrencies a popular choice. A youthful and tech-savvy population also drives the adoption of decentralised finance (DeFi).
3. United States
The U.S. sees 15.56% of its population owning cryptocurrency, totaling over 52 million people. It ranks third in percentage but is among the top in absolute numbers due to its advanced technological infrastructure and growing institutional interest in crypto.
4. Iran
13.46% of Iranians hold cryptocurrency, primarily to bypass economic sanctions. The country has legalized crypto mining and is open to blockchain technology to strengthen its economy.
5. Philippines
In the Philippines, 13.43% of the population owns cryptocurrency. The country leads in blockchain-enabled play-to-earn gaming and remittance services, with mobile banking further facilitating crypto transactions.
6. Brazil
Brazil shows an 11.99% crypto ownership rate. The country is a pioneer in adopting blockchain for banking and investment and is home to numerous startups providing crypto services.
7. Saudi Arabia
In Saudi Arabia, 11.37% of the population owns cryptocurrency. The nation is incorporating blockchain technology in various sectors, supporting broader crypto adoption and aligning with its Vision 2030 to digitize the economy.
8. Singapore
Singapore’s 11.05% cryptocurrency adoption rate benefits from its status as a financial hub with crypto-friendly laws and numerous blockchain startups. The Monetary Authority of Singapore has been crucial in creating a conducive environment for crypto trading.
9. Ukraine
Ukraine, with 10.57% of its population investing in cryptocurrency, has one of Europe’s highest adoption rates. Many Ukrainians use cryptocurrency as a safeguard against currency devaluation and for international transactions.
10. Venezuela
Venezuela rounds out the top 10 with 10.3% of its population using cryptocurrency. Economic challenges and hyperinflation have made crypto an attractive alternative for preserving value. The government has also launched its own national cryptocurrency, the Petro, in response to economic hardships.
