How many people own cryptocurrencies?
Bitcoin? Ethereum? Ripple? Cryptocurrencies have gained tremendous interest in the past year, possibly driven by astronomical price increases. In 2020 alone, the total value of all cryptocurrencies increased by more than 3300% and exceeded $ 600 billion; within 12 months, Bitcoin added more than 1300%.
Despite the surge in interest, it is unclear how many people own cryptocurrencies. This article assesses the recognition and ownership of cryptocurrencies, the original material was published on Medium.
For the study, the Dalia resource was used, which made it possible to interview more than 29,000 people from the 8 largest cryptocurrency markets (USA, UK, Germany, Brazil, Japan, South Korea, China, and India). To achieve the most accurate estimate possible, an advanced statistical method called MRP was used to improve representativeness.
3 out of 4 people have heard about cryptocurrencies
Nearly three-quarters of all respondents said they had at least heard of cryptocurrencies. Considering that just a few years ago, cryptocurrencies were little known, this is a definite breakthrough.
The results show that South Korea (87%) and Japan (83%) are the most advanced in terms of cryptocurrency awareness. Other large western markets (USA, UK, Germany) also have a high rate of about 75%, in Brazil, this figure is over 60%.
Half of the respondents know what cryptocurrencies are
Maybe cryptocurrency is just a buzzword? Or do the respondents really know what this means? The results show that about two-thirds of respondents who have heard about cryptocurrency understand what it is. The average percentage across all countries is 50%, which indicates sufficient awareness.
Unsurprisingly, Japan and South Korea are leading again, as both countries are loyal to cryptocurrencies. It is also curious that in these countries the smallest number of residents tend to buy cryptocurrencies.
4% plan to buy cryptocurrency
In this case, we are talking about those respondents who do not yet own cryptocurrencies.
After prices, and with them, the media attention reached new highs in 2017, it is interesting to find out if people are planning to invest more in cryptocurrencies. The results show that on average 4% of respondents intend to buy cryptocurrency, depending on the country, this percentage ranges from 6% to 3%. Compared to high levels of awareness, these numbers indicate that cryptocurrencies are still in their early adoption cycle.
As already mentioned, South Korea and Japan tend to be in the top positions, but show low percentages in cryptocurrency purchases over the next 6 months. This could be a sign of slowing investment and mood swings.
Japan has the most crypto owners
Our main goal was to find out the degree of ownership of cryptocurrencies. It found that out of 29,000+ respondents who are connected to the Internet, about 7% say they own a small number of cryptocurrencies. This confirms that crypto assets are not only a media phenomenon but also belong to a certain segment of the population. If you notice, the number of owners is higher than those willing to buy, which suggests that the community of early supporters has already formed.
In this case, Japan again holds first place, it is the only country that demonstrates double-digit figures at 11%. In this sense, the land of the rising sun is the undisputed leader.
The second and third places are occupied by the United Kingdom and the United States, their share of ownership is about 9%. With the exception of China, which has a cryptocurrency ownership ratio of around 3%, all other countries hover in the 5-6% range.
Socio-demographic indicators
For everyone who deals with the cryptocurrency/blockchain community, it is known that men are dominant in all categories. Among the measured indicators, the highest gender gap is in the area of knowledge of cryptocurrencies, on average, the difference is 11%.
In Western countries, gender disparities are higher than in Eastern countries. For example, when it comes to knowledge of cryptocurrencies, Western countries (USA, UK, Germany) have a gender gap of 19%, in Asian countries, it is measured in single digits. In addition, China and India have a small ownership gap (4%), while in the US it is quite high (13%).
Respondents with higher levels of education are characterized by higher levels of cryptocurrency proficiency (12% with college degrees - 67%, 4% without higher education - 33%) These results shed some light on the adoption of cryptocurrencies in leading markets.
What are they talking about? On the one hand, adoption is still in its early stages, but on the other hand, three quarters of those surveyed have at least heard of cryptocurrencies.
https://cointelegraph.com/news/number-of-americans-owning-crypto-doubled-in-2019-finder
It is difficult to buy BITCOIN at these prices. But we can buy other less known coins. At least this applies to me. Thanks for this great post
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Thank you
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The percentages of South Korea are interesting
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