The cryptocurrencies, already known to a greater or lesser extent by all, have undoubtedly been the theme of 2022 (and previous years). Falls in the price of many of them, the bankruptcy of the odd exchange… but it has also meant a growth in the number of users who invest in it, even if it is a small part of their economy.
And it is that, currently, 10% of the world population owns some form of cryptocurrency. If we combine cryptocurrencies with tokens, we are talking about more than 1 trillion dollars invested. Although yes, this number was much larger (almost 3 billion) at the end of last year.
Despite this, not only at the user level, many countries have begun to set their eyes on this sector either for better or for worse. Despite the fact that many have prohibited them, as well as mining, there is hardly any country or region in the world where they are not used at some level.
That is why we wanted to collect The 10 countries worldwide that have the most users involved in the world of cryptocurrencies.
| COUNTRIES | USERS PERCENTAGE |
|---|---|
| thailand | 20.1% |
| Nigeria | 19.4% |
| Philippines | 19.4% |
| Türkiye | 18.6% |
| Argentina | 18.5% |
| Indonesia | 16.4% |
| Brazil | 16.1% |
| Singapore | 15.6% |
| South Korea | 13.4% |
| Malaysia | 13.2% |
More and more countries have a large number of users hooked on cryptocurrencies
With the Tether cryptocurrency having the largest market share in the country, Thailand takes the gold in this 2022. Other most traded cryptocurrencies in Thailand were Bitcoin and Ethereum.
Of course, note that in 2021 this country banned memecoins and NFTs. Additionally, as Cointelegraph reports, the Thai government is making progress in regulating the local cryptocurrency ecosystem by enacting new tax rules for the sector.
Besides, this year Thailand stands out because has been profiting from Chinese crackdownsas retail investors have been increasingly devoting themselves to the mining of cryptocurrencies.
Nigerians, for their part, have turned to trading and investing in cryptocurrencies. as a deterrent against a terrible economythe lack of job creation and the complicated bureaucracy that governs the country’s financial institutions.
The Philippines stands out for allowing extensive retail trade. In the summer of 2020, the central bank of the Philippines approved 16 crypto exchanges, paving the way for a real boom in the markets there.
In the case of Argentina, its population is turning to cryptocurrencies (Bitcoin) as a way to escape from currency. About a third of Argentines said they bought or sold cryptocurrency at least once a month, double the percentage of people in the United States.
If we talk about Brazil, last month, the Brazilian digital bank Nubank announced the launch of its cryptocurrency, called Nucoinsaying that he expected “to further democratize new technologies like blockchain and Web3.” Brazil is one of the 10 most active markets globally for cryptocurrencies, according to data from 2022 Chainalysis.
Singapore, being a country with one of the most stable economies and a fintech hub, is also pro-crypto. To keep the country innovative, the Monetary Authority of Singapore tries to maintain a balance between:
- Absence of excessive regulation of cryptocurrencies
- Preventive surveillance to detect illegal activities
There is no capital gains tax in Singapore, neither for individuals nor for companies. As for income tax, Singapore-based companies have to pay it if they accept crypto payments or operate as crypto trading companies.
Many countries reject the use of cryptocurrencies even though their population refuses to be left out
However, despite all this, some have not stopped frowning at the crypto world (Egypt, Colombia, Nigeria, India, Iran, etc.). But as it has already been shown, a prohibition or restriction is not synonymous with prevention or cutting, and it is because, as you have already seen, some nations that are not very friendly to coins digital are on this list of top users.
Countries hostile to cryptocurrency often highlight issues of policy and regulation, volatility, support for embezzlement, and other financial risks when attacking the cryptocurrency ecosystem. However, It seems that citizens around the world are not entirely in agreement.
However, some citizens around the world definitely turn their backs on cryptocurrencies. Citizens of Russia (2%), Israel (3%), Morocco (3.1%), and Saudi Arabia (3.6%) have the lowest rates of cryptocurrency ownership.
In general, most crypto ownership is concentrated in people between the ages of 16 and 44. Undoubtedly, these have become part of people’s lives, getting into the traditional financial system.
