For a number of reasons, discovering the actual number cryptocurrency owners in the world today is a bit like being shown a large jar of sweets and being asked to guess how many sweets are in the jar.
Dalia Research decided to survey rather than simply estimate and it published its results yesterday in Medium. As it points out, the spike in the market and the volatility on a daily basis makes it challenge to find a definitive answer. It’s certainly not as easy as finding out the number of people who own BMWs for example.
Dalia’s approached the task by using a 24-hour rapid survey “over 29,000 internet-connected people in 8 of the largest cryptocurrency markets, namely the US, UK, Germany, Brazil, Japan, South Korea, China and India.” The researchers then used a statistical technique called MRP to make the data more representative of the global situation.
The results showed that three in every four people were aware of cryptocurrencies. That’s different to owning them. South Korea had the highest awareness, followed by Japan and the UK, while India and Brazil had the lowest scores. But, even so, 60% of Brazil’s population knows about crypto, which isn’t bad.
Where do they know most about crypto?
The researchers decided to test people’s knowledge about crypto. Is it just a buzzword, or do people understand the nuts and bolts of it? The average of all eight countries was 49%. The countries that knew the most, i.e. above average, were Japan, Korea, Germany and the UK. China, somewhat surprisingly, only scored 36%, well below average.
How many don’t own crypto, but plan to buy?
On average, four percent of non-owners plan to buy in the next six months. Here the country ‘league tables’ are somewhat reversed. India topped the table with 6% saying they would buy, followed by the US, Brazil and the UK with 5% each. Japan and Korea scored below average, perhaps because people here have invested so much already and the market is less positive at the moment.
Which country currently has the largest number of crypto owners?
The answer is Japan with 11%. The UK and the US have 9%, while the other five countries in the survey are below the seven percent average for ownership.
Crypto by gender and education
It is widely known that men dominate the crypto sphere, but, who knew that there is a big East-West divide. In the West, the knowledge gap between men and women is 19%, while in the East it is only in single figures. And, for example, the crypto ownership gap between the genders in China and India is only 4%, whereas in the US it is 13%. Plus, the survey found that people with a higher level of education were more likely to be crypto owners.
Later this month, Dalia Research will release more detailed figures based on this survey, when we will find out more about the global sentiments about crypto.