Finder’s Poll Shows Vietnam, Indonesia, and India Lead Crypto Adoption

Divya  |  Aug 16, 2021

Finder’s survey of 42,000 people across 27 countries has revealed that emerging economies like Vietnam, Indonesia, and India are leading the world in terms of crypto adoption. The survey was part of Finder’s Cryptocurrency Ownership Report released on August 13. 

To assure thorough reporting of crypto asset ownership, Finder interviewed between 1,160 and 2,511 respondents in all 27 countries on its list. 

Poll Indicates Vietnam, Indonesia, and India Have the Highest Number of Crypto Owners

The largest number of crypto owners in the world was concentrated in Vietnam, where 41% of respondents held digital assets. Meanwhile, both Indonesia and India ranked second in crypto ownership, with 30% of citizens claiming they had bought virtual currencies.

Additionally, in all the countries included in the survey, men were more likely to purchase crypto assets than women. In fact, Vietnam not only has the highest crypto adoption but also the widest gender gap in asset ownership (9 -11%). This is similar to the trends observed in Singapore, the Philippines, and Ireland. Countries that have the lowest gender gap in crypto ownership include Portugal, South Korea, and New Zealand.

Regarding the rise of crypto’s popularity in emerging economies, Finder’s report writer James Edwards noted:

“Remittance payment may have played a significant role in these numbers, with cryptocurrency an option for migrants who want to send money home and avoid exchange fees.”

UK, US, and Japan Show Lower Adoption Rates

While crypto adoption rates are high throughout Asia, countries like Japan (11%) are still lagging in digital asset purchases. 

Other countries that have a dismal number of crypto owners include Spain (12%), Germany (11%), the United States (9%), and the United Kingdom (8%).

Interestingly, South American countries seemed to be increasingly open to cryptocurrencies. Most countries in the region were documented to have higher crypto adoption rates. Brazil, in particular, stood out with 22% of respondents admitting to digital asset ownership. Colombia and Venezuela also accounted for a large number of cryptocurrency users. 

The region’s embrace of virtual currencies is absolutely understandable, given the impact of sky-rocketing inflation and strict capital controls. 

The survey also revealed that Bitcoin was the still most widely accepted and used cryptocurrency across the world. Report writer Edwards highlighted:

“Bitcoin still reigns supreme despite speculation that ethereum could become the most widely transacted cryptocurrency. Bitcoin had the highest adoption rates in every single country” 

Related News