Which Countries Are Using Cryptocurrency the Most?

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Which Countries Are Using Cryptocurrency the Most?




Africa’s largest economy is the king of cryptocurrency. In Nigeria, 32% of respondents — nearly 1 in 3 — report having used or owned one type of crypto or another in 2020. By comparison, just 6% of Americans reported the same.

According to Bitcoin.com, Nigeria’s unique culture and circumstances are fueling the trend. One of the biggest influencers is poverty, a condition suffered by 87 million of Nigeria’s 200 million people — and crypto transactions are cheap. Another reason for the trend is that Nigerians are much more likely to make payments and send money using their phones. Finally, double-digit inflation is the rule, not the exception, in Nigeria, and cryptocurrencies like Bitcoin, which are capped to a finite number of coins, serve as a hedge against inflation.

A Look at the World’s Top 10 Crypto Countries

Nigerians are the most open to crypto trading and spending, but the country is hardly alone in its rapid adoption of what was a mostly unfamiliar novelty until very recently. Southeast Asia makes a strong showing and one country from Latin America breaks the top five, but the world’s most powerful countries with the biggest economies fall on the bottom half of the list. The world’s top 10 crypto countries, according to the Statista data, are:

  • Nigeria: 32%

  • Vietnam: 21%

  • Philippines: 20%

  • Turkey: 16%

  • Peru: 16%

  • Switzerland: 11%

  • India: 9%

  • China: 7%

  • U.S.: 6%

  • Germany: 5%

  • Japan: 4%

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