Global Rise In Cryptocurrency Ownership Amid Challenges

According to Cointelegraph, cryptocurrency ownership is on the rise globally, despite ongoing challenges such as market volatility and scams. Consensys’ 2024 Perception Survey highlights significant increases in crypto ownership in various countries. Notably, Mexico saw an 8% increase, while the Philippines and South Africa experienced a 7% rise. Germany and Japan also reported growth, with 5% and 4% increases, respectively. Emerging markets are at the forefront of this trend, with Nigeria leading at 84% of respondents owning a crypto wallet. South Africa follows with 66%, Vietnam at 60%, the Philippines at 54%, and India at 50%. Turkey and the United States also show substantial ownership rates, with 44% and 43% of respondents, respectively, indicating they possess a crypto wallet. However, in countries like Japan, Argentina, Canada, France, Italy, and the UK, less than one-third of respondents have purchased digital assets. The survey reveals that a significant portion of respondents in Asia and Africa plan to invest in cryptocurrencies within the next year. Conversely, most individuals in Europe, Canada, South Korea, and Japan are unlikely to invest. Meanwhile, respondents from Turkey, the US, and Latin American countries exhibit moderate investment intentions. Blockchain technology is increasingly viewed as "the future of money," yet negative perceptions persist. In Europe, cryptocurrencies are often linked to speculation and scams, particularly in France, Germany, Italy, and the UK. In the US, 29% of respondents see cryptocurrencies as an alternative to traditional finance, but 34% associate them with scams. Demographic differences in cryptocurrency understanding are evident, with men aged 25-44 generally having a better grasp of the technology. In contrast, women and individuals aged 45 and older tend to be less familiar. This trend is consistent across most surveyed countries, reflecting similar patterns from previous years. The survey, conducted between February and May 2024, included 18,652 participants aged 18 to 65 from Argentina, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Nigeria, South Africa, South Korea, Turkey, the Philippines, the UK, the US, and Vietnam.