According to a report, the number of people who bought cryptocurrency in three important places almost doubled in 2021.
In 2021, more than half of people in India, Brazil, and Hong Kong bought their first cryptocurrency, such as Bitcoin, for the first time.
According to a new survey, the number of people who own cryptocurrency rose dramatically last year. In 2021, nearly half of all owners around the world will buy a cryptocurrency for the first time.
Between November 2021 and February 2022, Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, polled about 30,000 respondents in 20 countries to help provfast-develop a fast-developing crypto ecosystem. The survey findings were included in the company’s “2022 the Global State of Crypto” report, which was shared with Cointelegraph on Monday.
According to Gemini’s research, cryptocurrency adoption accelerated in 2021 in countries such as India, Brazil, and Hong Kong, where more than half of respondents began investing in cryptocurrency. In India, 54% of respondents were of this type, while 51% were in Brazil and Hong Kong.
Elsewhere in the world, respondents in Latin America (LATAM) and Asia Pacific (APAC) were also actively purchasing cryptocurrency in 2021, with 46% of respondents in LATAM and 45% of respondents in APAC purchasing their first cryptocurrency. According to the report, 44% of respondents in the United States and 40% in Europe began investing in 2021.
Additionally, Gemini discovered that nations such as Indonesia and Brazil lead the world in terms of bitcoin investors as a percentage of the general population. 40% of people who responded to the report said that they had cryptocurrency, compared to 20% in the U.S., 18% in Australia, and 17% in Europe. In Brazil and Indonesia, 41% of people said that they had cryptocurrency.
People in countries like the United Arab Emirates, Singapore, and Israel seem to have a lot of crypto, with 35% of people in the UAE, 30% in Singapore, and 28% in Israel reporting that they own crypto.
Additionally, the survey identified regulatory uncertainty and a lack of education as two major barriers to widespread use of cryptocurrency. Among non-owners, 39% of respondents in APAC, 37% in LATAM, and 36% in Europe indicated that there was legal uncertainty around cryptocurrency. 30% of people in the Middle East, 24% of people in Asia Pacific, and 23% of people in Latin America said that crypto tax reporting made them not want to buy cryptocurrency.
As Cointelegraph previously reported, Gemini estimated last year that the number of cryptocurrency investors in the United States would nearly treble by 2021. Other surveys indicate that the number of new cryptocurrency investors in the country was significantly higher in 2021. According to the Huobi cryptocurrency exchange’s January “Crypto Perception Report 2022,” over 70% of crypto owners in the United States began investing in cryptocurrencies such as Bitcoin (BTC) for the first time in 2021.
