Over 40% of Global Crypto Owners in 2021 Are Newcomers – Survey

Key Insights:

• Close to half of the global crypto owners bought their first cryptos in 2021.
• Inflation is driving crypto adoption in countries that saw currency devaluation.
• Women make up a majority of the ‘crypto-curious’ audience.

Nearly half of all current crypto owners in the United States, Latin America, and the Asia Pacific have bought crypto for the first time in 2021, a new survey states.

2021: Crypto’s ‘Breakout Year’

Per a report released by Winklevoss-owned crypto platform Gemini, crypto newcomers poured in last year, making it a blockbuster year for virtual currency investments. Noah Perlman, COO at Gemini said,

“Crypto adoption reached a true tipping point last year, becoming an established economic driver and a valued investment across the globe.”

Of 30,000 people surveyed in 20 countries, Gemini found that inflation was a major driving factor for crypto adoption. Especially in Brazil, Mexico, and India, where the local currency saw devaluation against the USD.

For instance, the Brazilian Real was the most depreciated major currency in 2020, falling nearly 30% of its value. Indonesian Rupiah devalued 50% against the dollar between 2011 and 2020.

The survey found that these countries have led the world in crypto adoption, with more women investing in cryptos such as Bitcoin and Ethereum.

Women-Led Crypto Future?

According to the findings, nearly half of the respondents who said they were ‘crypto-curious’ were women. In developing countries, including Israel (51%), Indonesia (51%), and Nigeria, women led the way by representing more than 50% of crypto owners.

On the other hand, only a third of current crypto owners are women in developed nations, including the US (32%), Australia (27%), and Europe (33%).

“Latin America is a leader in crypto ownership among women compared to other regions, with 43% of crypto owners in the region identifying as women. The trend of high ownership among women in Latin America is expected to continue with the crypto-curious audience,” the readings noted.

Additionally, more women responders said they are crypto-curious, who currently do not hold any cryptos but are curious to acquire in the next year. The survey added that Irish people are the most crypto-curious globally, followed by Germany, Colombia, and the UK.

The majority of the ‘crypto-curious’ people in Ireland are women, an Irish daily stated. Gillian Lynch, Gemini’s Head of Ireland and Europe, said,

“This global survey reveals that Irish people have a strong appetite for crypto, which is expected given Ireland’s international reputation as a hub for financial services and emerging technologies.”