Crypto Adoption by Country Over Time (2019-2022) – Analysis

Since 2019, conducted a comprehensive study of cryptocurrency adoption among the residential online population aged 18 to 64 across different countries worldwide. The study was conducted using a questionnaire that asked respondents whether they owned or used cryptocurrencies, such as Bitcoin. The study surveyed either 2,000 or 12,000 respondents per country, resulting in a total of 55 different surveys. The findings showed that consumers from countries in Africa, Asia, and South America were more likely to own or use cryptocurrencies than those from other regions.

For example, nearly one in three respondents in Nigeria reported owning or using digital coins, compared to just six out of 100 respondents in the United States. However, the survey did not specify the exact use or purpose of the cryptocurrencies owned or used by the respondents. While some countries like Nigeria and Poland are more likely to use cryptocurrencies for daily transactions, Vietnam has banned the use of Bitcoin and other cryptocurrencies as payment methods but allows them as investment tools. In Europe, Switzerland has the highest cryptocurrency adoption rate, followed by the UK, according to Statista’s Global Consumer Survey.

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