Gemini, a cryptocurrency wallet for buying, selling and storing digital assets, unveils a report, Global State of Crypto 2022, which outlines the adoption of cryptocurrencies around the world. This survey is based on the testimonies of 30,000 Internet users questioned, across 20 countries.
Ranking of countries that have adopted cryptocurrencies
According to the report, Indonesia and Brazil topped the rankings with cryptocurrency adoption rates reaching 41%. Denmark and Kenya find themselves, for their part, at the end of the ranking with an adoption rate of around 15%. France comes in 4th place among the countries with the fewest cryptocurrencies. (see ranking above)
The report, however, points out that high-income respondents make up a large share of crypto owners in developed countries. Among them, more than 40% say they own cryptocurrencies in France, Germany and the United Kingdom.
2021, a pivotal year for cryptos
The report compiled by Gemini indicates that 2021 represents the year that saw investments in cryptos increase significantly. Thereby :
- Nearly half of crypto owners in the US (44%), Latin America (46%) and Asia-Pacific (45%) bought cryptocurrencies for the first time in 2021,
- More than half of crypto owners in Brazil (51%), Hong Kong (51%) and India (54%) started investing in 2021,
- In Europe, 2 out of 5 crypto owners (40%) started investing in 2021.
More generally, 41% of respondents say they are “crypto-curious”. This term refers to consumers who do not yet own cryptos, but who are likely to acquire some during the year. European countries have a significant share of “crypto-curious”, with Ireland in the lead, where 58% of respondents indicate that they are interested in buying cryptocurrencies.
Volatility and security, major obstacles to buying cryptos
The main obstacles to investment concern the volatility of the price of cryptos, security or even the lack of knowledge about how cryptocurrencies work. In Europe, the 3 most cited reasons for purchasing barriers are:
- Safety concerns (35%),
- Lack of knowledge on how to buy or manage cryptocurrencies (34%),
- Lack of trust in cryptos (33%).
Discover the full report