Global Crypto Ownership Reaches 562 Million People in 2024: Report
"Crypto" may stem from the Greek word for "hidden," but today, cryptocurrency is stepping into the spotlight like never before. Global demand for digital currencies is exploding, raising questions about the future role and opportunities they offer businesses worldwide. To guide you through this evolving landscape, we’re excited to release our new report
The State of Global Cryptocurrency Ownership in 2024
Find out the current state of cryptocurrency ownership and how you can leverage these trends for your business's growth.
Download the report to learn more about:
- Crypto Ownership by Country & Continent
- Global Crypto Ownership by Age Group and Gender
- Top 25 Countries with the Highest Cryptocurrency Ownership Rate
- Cryptocurrency Ownership vs. Traditional Payment Methods
- The Drivers Behind the 2024 Surge in Crypto Adoption
- Cryptocurrency as a Payment Option and its Key Benefits
Key Statistics
- In 2024, the global user base for digital currencies reached 562 million people, up from 420 million in 2023.
- 34% of cryptocurrency owners are aged 24-35, the largest share among all age groups.
- UAE, Singapore, and Turkey lead among the top 30 economies with the highest crypto ownership rate.
- Asia maintains its lead in crypto ownership, increasing from 268.2 million to 326.8 million, followed by North America with 72.2 million.
How many people own crypto in 2024?
Cryptocurrency is on the rise. Around 562 million people worldwide, or the equivalent of 6.8% of the global population, now own digital currencies, up 34% from 420 million in 2023.
562M people own cryptocurrencies globally.
34% increase in cryptocurrency ownership from 2023.
6.8% of the world population has cryptocurrencies.
,…and the trend shows no signs of slowing down.
In our latest report, The State of Cryptocurrency Ownership Worldwide in 2024, we break down the demographics of this skyrocketing user base, their preferences for crypto usage across sectors, and the implications for global businesses. Read it here!
A Look at The State of Cryptocurrency Ownership Worldwide in 2024
With its decentralized nature and the convenience of digital transactions, it’s no wonder digital currencies are attracting the interest of a growing segment of the global population.
Cryptocurrency Ownership by Region in 2024
Which countries have the highest cryptocurrency ownership rate? Let's have a look.
Top 30 countries with the highest cryptocurrency ownership rate
The United Arab Emirates and Singapore top the chart with the highest ownership rates, with 25.3% and 24.4% respectively. Among the top 30 countries with the highest ownership rate, we find countries from various continents and economic standings - ranging from emerging markets like Turkey and Argentina to smaller economies such as Slovenia and Luxembourg.
Asia strengthens its reputation as a hub for digital currency adoption and innovation, with 10 of its countries ranking among the top 30 globally with the highest adoption rates. Discover more details, including a comparative analysis of digital currency ownership across regions and usage trends, in our full report.
What’s Driving the Surge in Cryptocurrency Ownership Worldwide
Regulatory Changes
In 2024, clearer regulations transformed cryptocurrency from a niche market into a significant player in global finance. This regulatory evolution bolsters investor confidence and paves the way for groundbreaking products like Bitcoin Spot ETFs.
Media Sensation and Education Resources
Events like the Bitcoin Halving spark market activity and fuel discussions everywhere, from online forums to casual chats. The buzz centers on the potential for huge gains, fueled by FOMO – the fear of missing out on the next big thing. This irresistible mix of financial opportunity and cutting-edge tech keeps attracting new investors eager to ride the crypto wave.
In response, educational resources like Binance Academy, Crypto.com University, and Coinbase Institute are expanding to meet the growing demand for information about this cutting-edge technology.
Beyond these forces, rising cryptocurrency adoption is also fueled by macroeconomic factors such as inflation and currency devaluation. We explore these aspects in greater detail in our full report here.
Cryptocurrency as a Payment Method
Digital currencies extend beyond investment vehicles and are being increasingly embraced by consumers and businesses as a reliable payment method for everyday transactions.
For instance, Grab has partnered with Triple-A to let users top up wallets with digital currencies. This integration lets consumers use digital assets for everyday activities, from ordering deliveries and booking rides to buying coffee at local shops.
Why are more and more businesses embracing digital currencies as a payment method
1. Lower Transaction fees: Blockchain technology reduces the need for intermediaries such as payment processors, significantly cutting transaction costs.
2. A Chargeback-free but fully refundable payment method: Once a transaction is confirmed on the blockchain, it becomes final and irreversible, so chargeback fraud, a common issue related to card payments faced by businesses, is no longer a concern.
3. No Volatility: Despite the volatile nature of cryptocurrencies, the rise of stablecoins and services that convert crypto to fiat instantly provide stability and reassurance amid market fluctuations.
4. Expanded Reach: Cryptocurrencies enable global transactions with lower fees and faster speeds than traditional cross-border transfers, promoting financial inclusion in areas with limited access to banking.
In a digital world that demands faster, more convenient transactions, industries like travel, e-commerce, and even luxury retail are turning to cryptocurrencies to address the limitations of traditional payment systems.
The Future Ahead
With half a billion users globally, growing regulation, and technological advances, cryptocurrency adoption and usage will continue to rise.
What does this mean for your business?
The continued rise of digital currencies presents exciting new opportunities to access a global market of tech-savvy customers seeking seamless payment experiences. Integrating cryptocurrency payments into your business can help you unlock new customer segments, improve transaction efficiencies, and future-proof your operations.
Ready to start accepting payments in digital currencies? Contact us today to find out more.
