Thailand accounts for the highest share at 20.1 percent, followed by Nigeria at 19.4 percent, a similar percentage to Philippine users. South Africa ranks fourth at 19.4 percent, followed by Turkey at 18.6 percent in the fifth spot.

Other countries in the top ten category that recorded a significant share of crypto owners include Argentina (18.5 percent), Indonesia (16.4 percent), Brazil (16.1 percent), Singapore (15.6 percent), South Korea (13.4 percent), and Malaysia (13.2 percent).

United States users ranked in the 14th spot with a share of 12.7 percent, while Russia ranked last at 2 percent among the surveyed countries.

Elsewhere, the ownership is more contracted among individuals aged between 25-34 years, with males accounting for 15.5 percent while the female share stands at 9.5 percent. Internet users aged 16-24 years saw males account for 13.3 percent, while female owners stood at 6.4 percent.

In general, most crypto ownership is centred among individuals aged between 16-44 years.

The ownership figures follow an increase in cryptocurrency penetration, with different assets being utilised for various roles. According to the research report: “The increased adoption has resulted in cryptocurrencies becoming part of people’s daily lives, replacing some of the roles played by the traditional monetary systems. For instance, the cryptocurrency sector offers services like lending and emerging as alternatives to conventional finance aspects like paying salaries.”