Turkey, Thailand, and Argentina had the Highest Crypto Ownership Rate in 2023, Almost Twice as High as the United States or European Countries

March 2, 8:23 am

Cryptocurrency adoption continues growing on a global scale. In 2024, around 160 million people are expected to flock to crypto, causing the total number of users in the market to jump over 830 million. And while most crypto users come from some of the biggest crypto nations, including India, the United States, and the United Kingdom, none of these countries is even in the top ten when discussing the crypto ownership rate.

According to data presented by AltIndex.com, Turkey, Thailand, and Argentina had the highest crypto ownership rate in 2023, almost twice as high as the United States or European countries.

Turkey Tops the Global Crypto Ownership Chart for Years; 21% of Internet Users Owned a Cryptocurrency in 2023

Although India undoubtedly remains the world's largest and fastest-growing crypto nation, with a massive 25% share in the global crypto user count, the country ranked sixteenth on the global crypto ownership rate chart. According to the Global 2024 Digital Overview Report, around 13% of Indian internet users aged 16 to 64 owned a cryptocurrency last year, much less than in Turkey, Thailand, or Argentina, the top three countries.

Turkey has been at the top of the global crypto ownership chart for years, again proving its title as one of the world's top crypto nations in 2023. Last year, 21.7% of internet users in the country owned some form of cryptocurrency, nearly 10% more than in the United States or India and 14% more than the global average. Thailand ranked second with 19.5% of internet users who owned a digital currency last year, only 2% more than Argentina. Brazil and South Africa were also among the top five countries, with 17.1% and 16.8% shares, respectively.

In comparison, the world's second-largest crypto nation, the United States, ranked eighteenth or two places behind India. Last year, 12.8% of American internet users owned cryptos, which was still above the global average of 9.7%.

Crypto Adoption Remains Mostly a Non-Western Trend

The Global 2024 Digital Overview report again showed that crypto adoption remains mostly a non-Western trend. Statistics show internet users from countries in Africa, Asia, and South America were most likely to own or use cryptos in 2023, having a much higher ownership rate than Western countries.

For example, one of the top crypto markets in terms of revenue, the United Kingdom, had only 8.3% of internet users who owned digital currencies last year or nearly three times less than Turkey. Just like Britons, Germans and Spaniards were also below the global average, with roughly 8% of respondents saying they used and owned cryptos in 2023. Canada ranked only a few spots above them, with 9.3% of crypto owners last year.

The survey also showed China, Russia, Ghana, and Morocco were at the back of the global crypto ownership list. Last year, 3.6% of Chinese internet users owned some form of cryptocurrency, 1% more than in Russia. Ghana and Morocco had by far the lowest shares, with 2.1% and 1.3%, respectively.

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