According to a study by enterprise-grade cryptocurrency solutions company Triple A, there are 562 million people using cryptocurrencies and digital assets worldwide.
The Triple A study, titled “Global Cryptocurrency Adoption”, indicates that the number of people who have adopted cryptocurrencies in 2024 has grown exponentially, reaching the impressive figure of 562 million users worldwide.
Despite persistent regulatory challenges for the crypto industry, in countries such as the United States and China, the resurgence of the Bitcoin and cryptocurrency bull market is positively impacting global adoption.
The firm notes that, on average, the growth of cryptocurrency adoption and ownership has skyrocketed at a compound annual growth rate of 99%, outpacing all known traditional payment methods. This has led to the fact that, currently, the 6,8% of the world population owns cryptocurrencies and digital assets.
Cryptocurrencies surpassed traditional payments giants
In the last 5 years, the growth in the number of people who have adopted cryptocurrencies has far exceeded the growth in adoption experienced by traditional payment methods, such as Paypal, Visa, Mastercard, among others.
According to data collected by the company, from 2019 to the present, The number of people owning and using cryptocurrencies in the world increased by more than 1.600%, going from 35 million users, on average, in 2019, to the 562 million users, on average, that exist today.
Source: Triple A
The growth rate of cryptocurrency adoption has surpassed traditional payments giants, including American Express, the firm commented.
To identify this growth, Triple A based its study on the Geography of Cryptocurrencies Report published by Chainalysis in 2023; In addition, it used different techniques and methodologies for data collection, such as in-depth research on the use of cryptocurrencies by country and the use of public data from different sources that analyze the penetration and ownership of cryptocurrencies in the world.
Asia and America dominate cryptocurrency adoption
As part of the study, Triple A also analyzed the geographical location of cryptocurrency holders and users, revealing that the majority of these are located in the Asian continent and the American continent.
The number of cryptocurrency users in Asia and America amounts to 327 million and 127 million, respectively, according to the company's statistics, which represents around 58% and 22,5% of the world's population using digital assets.
However, in terms of population proportion, the United Arab Emirates (UAE) dominates the adoption of cryptoassets, with 25,3% of its population identified as cryptocurrency holders and users.
Source: Triple A
Other interesting data revealed by the study of Triple A on the adoption of cryptocurrencies, is that 61% of crypto users in the world are men, the majority have professional studies and are under 34 years of age. The firm also revealed that the annual income of the average cryptocurrency user is at least $25.000.
Recent data suggests that people have been flocking to cryptocurrencies in recent years, possibly driven by the maturation of the crypto market and the growing recognition of these digital assets as a form of legitimate investment in the traditional financial world.
