Cryptocurrency ownership is on the rise worldwide, although challenges such as market volatility and scams remain significant barriers for new users.

The Consensys 2024 Perception Survey reports notable growth in crypto ownership across several countries.

In 2024, ownership increased by 8% in Mexico, 7% in the Philippines and South Africa, 5% in Germany, and 4% in Japan.

Emerging markets continue to lead in crypto adoption.

In Nigeria, 84% of respondents reported owning a crypto wallet, followed by 66% in South Africa, 60% in Vietnam, 54% in the Philippines, and 50% in India.

Turkey and the United States also saw significant wallet ownership, with 44% and 43% of respondents reporting ownership, respectively.

The survey reveals that approximately 40% of participants globally either currently own or have previously purchased cryptocurrencies.

However, ownership rates remain below one-third in countries such as Japan, Argentina, Canada, France, Italy, and the United Kingdom.

When it comes to intentions to invest, respondents from Asia and Africa demonstrate stronger interest in purchasing crypto assets within the next 12 months.

Conversely, the majority in Europe, Canada, South Korea, and Japan are unlikely to invest in the near term.

In Turkey, the U.S., and Latin American countries, investment intentions fall somewhere between these extremes.

The report highlights growing recognition of blockchain as “the future of money,” although negative perceptions about the industry persist.

In Europe, for instance, cryptocurrencies are often associated with speculation, particularly in France, Germany, and Italy, or with scams and phishing, especially in France, the U.K., and Italy.

The research highlights:

“It is worth noting that more than 1 in 4 (29%) of US respondents associate cryptocurrencies with an ‘alternative to the traditional financial system,’ but more than a third (34%) also associate cryptocurrencies with ‘scams and phishing.’”

The survey also identifies demographic disparities in crypto understanding, particularly across age and gender.

Men aged 25-44 exhibit the most comprehensive understanding of cryptocurrency technology, while women and respondents aged 45 and older are generally less familiar with it.

“This trend appears with varying intensity across most of the countries analyzed, and with very similar values year-over-year,” states the report.

The survey included responses from 18,652 participants aged 18 to 65 across 19 countries—Argentina, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Nigeria, South Africa, South Korea, Turkey, the Philippines, the U.K., the U.S., and Vietnam—collected between February and May 2024.

Sources:

https://consensys.io/blog/global-survey-on-crypto-and-web3-press-release-2024

https://www.coingecko.com/en/coins/tether

Emerging markets lead crypto adoption, according to Consenys survey

Emerging markets lead crypto adoption, according to Consenys survey