Global Crypto Adoption Hits 320M, Mostly Gen Z and Millennials

by Peter Siu August 29, 2022 5 min read

(Originally posted on : Crypto News – iGaming.org )

New research from Singapore-based digital assets payments firm, TripleA, shows big cryptocurrency adoption across the globe. An analysis of data gathered from over a dozen reports and surveys reveals that globally approximately 320 million people own cryptocurrencies, or 4.2% of the world’s population.

Asia leading the world with the highest crypto adoption rates. Source: TripleA

In absolute numbers, the United States are leading the pact with 46 million users or almost 14% of its population. Nevertheless, Asian and African countries have embraced cryptocurrencies the most, with Vietnam showing 20% ownership among its people.

Top 13 countries with the highest number of crypto owners. Source TripleA

Crypto Top Priority

Some other very interesting findings from the study, that compares crypto’s growth to the internet adoption of the 1990s are:

Over 85% of US merchants consider offering crypto for payments as a top priority.
Of those buying cryptocurrencies in 2021, 94% are millennials and Gen Z under the age of 40.

TripleA’s report on crypto adoption also includes a useful timeline of businesses that have started accepting cryptocurrencies for payments on their online platforms, ranging from Subway and Microsoft to Norwegian Airlines and Booking.com.

Overview of companies entering the crypto space by allowing customers to pay with them. Source TripleA

What is the Outlook of Crypto Adoption in Gambling?

Noting that the global gaming market is worth $222 billion in 2022, TripleA expects this to grow to $340 billion by 2027. Crypto will be playing an important role in this sector, the study highlights:

In 2021, 25.1% of crypto owners have made payments for online gambling or gaming with cryptocurrency.
Of the crypto owners surveyed, 48.6% said that they consider using cryptocurrency for online gambling and gaming activities in the future.

The TripleA report gives special attention to Bitcoin (BTC), noting that the flagship cryptocurrency experiences a massive 540,000% growth in value in the years between 2012 to 2021, with growth to continue:

“Bitcoin reached an annual growth rate of 60% in 2021 and the cryptocurrency market is predicted to grow with a compound annual growth rate of 56.4% from 2019 to 2025.”

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