Did you know that Brazil and Indonesia lead the world in crypto adoption, followed by the United Arab Emirates and Singapore?
Or that among those who plan to purchase crypto for the first time in the next year, 47 percent are women globally?
These are just some of the findings from a first-of-its-kind crypto research report from Gemini that explores the attitudes, drivers and adoption of cryptocurrency around the globe, as well as barriers to entry.
As stated in the report, “In 2021, cryptocurrency reached a tipping point, evolving from what many considered a niche investment into a global, established asset class.” Accordingly, the report not only sheds light on cryptocurrency’s widespread adoption, but points to the promise it holds for the future.
Below are 8 facts that we thought were particularly insightful:
Forty-one percent of crypto owners surveyed globally purchased crypto for the first time in 2021. More than half of crypto owners in Brazil (51%), Hong Kong (51%), and India (54%) got started in 2021.
India’s average outperforms the Asia-Pacific region, where 45 percent of respondents said they bought their first cryptocurrency in 2021.
Women in developing countries lead in the adoption of cryptocurrency among women. In Indonesia and Nigeria, for example, more than half of crypto investors are women (51 percent and 50 percent, respectively). Conversely, in developed countries and regions, only a third of current crypto owners are women, including in the United States (32%), Europe (33%), and Australia (27%).
Nearly twice as many surveyed Black Americans reported owning cryptocurrency (17%), when compared to 2020 (9%)
The majority of respondents in Latin America (59%) and Africa (58%), where many have experienced long-term hyperinflation, say that crypto is the future of money.
More than half of crypto owners in Asia Pacific (56%), Africa (53%), and the Middle East (56%) reported actively trading (buying and selling) cryptocurrency as a way to achieve profits.
Among those who plan to invest in crypto in 2022, more than one in five (22%) are between the ages of 18-24 and 17% are between the ages of 45-54, compared to 17% and 14%, respectively, in 2021.
Regulatory uncertainty, lack of education and awareness, and heavy tax and regulatory impositions on cryptos are among some of the key barriers to entry in some regions. For instance, more than half of respondents in Latin America (51%) and Africa (56%) said that educational resources would make them more comfortable purchasing cryptocurrency.
For more interesting cryptocurrency facts and figures, see Gemini’s 2022 Global State of Crypto Report.