Undoubtedly, technology has become increasingly important in our lives and plays a significant role in shaping them. By the same token, it seems without question that tech-based cryptocurrencies have emerged as a leading player in global finance. With its foundations in next-gen blockchain tech and real-world applications for many leading coins, crypto is really generating a huge buzz with investors.
This can be seen when you take a look at the latest cryptocurrency prices or check out just how many legitimate crypto tokens there are to invest in. Although many headlines might be hoovered up by big hitters such as Bitcoin or Ethereum, there are many alternatives you could invest in. People worldwide do this every day – but which countries invest in cryptocurrencies the most?
Asia, as a whole, is well-known for being a region that is heavily involved with crypto investing. Japan, though, is one Asian country that particularly seems to love doing this! This is no surprise when you consider that the inventor of Bitcoin (Satoshi Nakamoto) is believed to be Japanese. It is not just the big-name tokens that Japanese people like to invest in, though – they are also known for being happy to put money into newer coins such as Smooth Love Potion and to keep an eye on the Smooth Love price as time moves on.
But what about crypto investing in Japan overall? The simple truth is that people in Japan have a long history of putting money into digital currencies, and this means the crypto investment market there is well established. Back in 2018, for example, it was estimated that around 3.5 million people in Japan had added this asset to their portfolio.
Of course, we can expect this figure to have grown since then and made Japan one of the top countries for investing in this way. Much of this was made possible by the foresight of the Japanese government in 2017 to recognize cryptocurrencies as a legal way to pay for goods.
As with most global lists on most subjects, the USA has to be included. This, after all, is widely recognized as a country with a genuine love for investing in cryptocurrencies and one with many investors who do this. From checking out the latest Luna price to looking for opportunities in other coins, US investors are now firmly crypto savvy.
This saw the number of US adults who own at least one cryptocurrency in 2022 rise by 19% to 33.7 million. In addition, this number is predicted to see double-digit growth in 2023 as crypto makes more inroads into the mainstream. As figures like this clearly show, the USA is a real hotbed for crypto investing.
This has been especially true since major financial institutions on Wall Street have started recognizing this as a viable asset in recent years. It is thought that US states such as California, Colorado, Hawaii, and Florida are among the most popular US locations for cryptocurrency investors.
Although you could look at countries like Vietnam, India, and Australia as significant locations for crypto investing, Nigeria pips them to the post for our list. This is one of the most populated countries in Africa, with over 210 million residents in 2021. It is also a country that has a thriving IT scene and a love for cutting-edge technology.
This means the country has a massive number of people all looking for a way to generate wealth – with crypto investing being a popular, accessible way to do this. Nigeria is also a country with a large number of young people, and this also explains why it has such a significant stake in this investment.
As cryptocurrencies are generally favored by a younger demographic, this section of society in Nigeria loves them as an excellent, new way to invest. Crypto investing has also taken off here because many Nigerians use this type of money to conduct low-cost, fast international transfers.
As a result, it has seen an increasing number of Nigerians dive into crypto investing to make the coins they need to send internationally. The picture becomes more evident when around 10% of the population here (approximately 22 million people) owns some crypto asset.
Countries with love for crypto investing
As the above shows, some well-known countries worldwide heavily invest in cryptocurrency. Although this is not an exhaustive list, it gives a sense of how widespread investing in this asset is global.