More than half of crypto users in India, Brazil and Hong Kong will buy digital assets for the first time in 2021. 

Crypto Adoption Rate in 2021 Accelerated by Nearly 1.5 Times

Gemini conducted a large-scale study of the cryptocurrency market and presented its “2022 Global State of Crypto” report. One of the study’s key findings was the growth in the number of crypto users in a number of major regions around the world: 

  • Latin America by 46%; 
  • Asia Pacific by 45%; 
  • Europe by 40%. 

According to the study, the highest number of crypto owners is observed among the citizens of Indonesia and Brazil — 41% of the total population. A large percentage of cryptocurrency investors is also seen in the following countries: 

  • UAE — 35%; 
  • Singapore — 30%; 
  • Israel — 28%.

Among the main barriers to the adoption of cryptocurrencies, most respondents cited legal uncertainty about the regulation of digital assets, tax restrictions and a lack of basic knowledge about the field. According to the Gemini survey, only 4% of respondents in the US started investing last year. A total of about 30.000 respondents from 20 countries took part in the research. By comparison, a similar study by crypto exchange Huobi found that about 70% of American citizens started investing in cryptocurrencies for the first time in 2021. The difference in numbers is most likely due to the difference in the audience of the platforms.

Author: Evgeny Tarasov
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