Did you know that more than half a Billion people around the world own Crypto that's too much indeed not only That but crypto's adoption rate in some Countries is Rising by triple digits This begs the question of where crypto Adoption is growing the fastest what's Driving this crypto adoption and which Cryptos stand to benefit today we're Going to summarize a report that has all Of the answers stay tuned The report that we'll be looking at is Titled the state of global Cryptocurrency adoption in 2024 and it Was published by Triple A back in May We'll be summarizing all of the juicy Details here in this video but we'll Leave a link to the full report for you To check out later anywh who the report Starts with some pretty mindbending Statistics it's authors to note that There are 562 million people using crypto around The world Which is up an impressive 33% from last Year's count of 420 million in other Words 6.8% of the world's population is Using crypto the report highlights that Here in the UAE 25.3% of people have adopted crypto Which makes the uee the number one Country for adoption as you'd say yala Habibi other countries noted are Singapore which sits in second place
With 24 .4% the US with 15.5% and Hong Kong with 14.3% of people Adopting crypto weirdly the report then Mentions that 6.9% of the world's Population has adopted cryptocurrency Despite noting 6.8% literally on the previous page Either this is a typo or there were a Few inconsistencies with the data aties Aside we couldn't help but notice that The dear old UK didn't even get a Mention so for anyone wondering 11% of Brits have adopted crypto According to Some 2024 statistics from finder that's Around 5.6 million people come on guys We can do better than that anyway the Report then breaks down the percentage Of people using crypto on each continent In 2024 it finds that Asia is leading The adoption Race by quite a wide margin With 3 26.8 million people getting Involved an increase of 21.8% since 2023 North America Trails Behind in second place with 72.2 million People there using crypto it's a lot Fewer people but adoption has grown Faster there with a 38.6% increase since last year Africa Meanwhile has 43.5 million crypto users But has the smallest percentage increase Of all six listed continents with a Modest 88.5% anyway Europe has 49.2 million Crypto users and has an impressive
Adoption growth of 60.3% but that is nothing when compared To South America and oceanana in 2023 South America had 25.5 million crypto users by 2024 that number has more than doubled To 55.2 million people an increase of 11 16.5% and oceanana well they saw an Increase of 114% to 3 million crypto users so a bit Of quick math tells you that the average Rate of crypto adoption per continent Has grown by 60% over last year that's Truly some mind-blowing stuff the Authors seem to agree because they write And I quote this underscores the Expanding role of digital currencies in The Global Financial system and by the Way if you are enjoying the video so far Bash that like button to give it a boost Hit that subscribe button and slap that Notification Bell so you catch the next One we interrupt this program for an Emergency crypto where the forecast get Ready for the Whirlwind of savings we're Seeing a high pressure sign up bonus System forming in the Northeast with Some exchanges offering up to $60,000 Lush in the South we'll be Seeing some heavy discounts on Hardware Wallets so watch out for those if you're Going to be out and about and then over In Cent areas there's a high chance of Trading fee discounts which should be
Seten in later on up to 60% off there Amazing for a more comprehensive Forecast visit the coin buau deals page Using the link in the description these Deals are red hot so make sure to take All necessary Precautions that's all for the forecast Now back to our scheduled program so That is the geography covered but what About the demographics Who are the People who are actually using this Wonderful Technology well the report shows that Crypto remains a male dominated industry But what might surprise you is by just How far the scales tip for reference 61% Of crypto users are male while just 39% Are female in terms of age groups the Highest percentage of users are aged 25 To 34 with 34% the second highest age Group is 35 to 44 which follows a close 31% the next age groups are considerably Smaller surprisingly people between the Ages of 18 and 24 have just a 14% Adoption rate this is surprising because Crypto is so often seen as something That the younger generation go for and Yet the youngsters have a pretty slow Uptake probably busy watching too much Tik Tok anyway people aged between 45 And 54 make up the second smallest group Of users at just 133% to be fair though This does make sense when you think About it those in the younger generation
They might not have the same money to Invest in crypto while the older Generation they'll probably have heard All of the fur in the media may not Really understand the tech and probably Think that crypto is just one big Ponzi Scheme not surprisingly the smallest Adoption rate also happens to cover the Largest age group out of anyone aged 55 Or older only 8% are using crypto this Adoption rate might not be anything Shocking but keep in mind that it does Cover several Generations in one bracket Now the authors note that as crypto Matures it becomes more integrated into Everyday Financial transactions with Clear advantages over their traditional Counterparts just how Satoshi intended The report lists four key benefits of Using crypto as a payment option the First is that crypto has lower Transaction fees thanks to the lack of An intermediary in fact using crypto to Send money abroad has a particular Advantage because the fees for selling Fiat can be as much as 5 to 6% the Second Advantage is blockchain's Transparent nature which eliminates Fraudulent chargebacks these can be Quite costly to businesses interestingly AAA then take the opportunity here to Shill themselves by saying and I quote Accepting crypto payments via a Gateway Like AAA gives Merchants full control
Over Refunds well if you can't toot your own Horn then who can anyway the third Advantage is that crypto helps Businesses to reach a global audience According to the report 31% of adults Remain unbanked despite 78% of adults Having a smartphone crypto could Bank These unbanked people since all you need To access cryptos is the very internet Connection at your fingertips the Authors then give shout outs to Companies using crypto as a payment Method as you can hopefully see there Are quite a few mentions so we won't go Over all of them for the sake of time But the most recent additions to the List are Ferrari grab Mai and Farfetched other notable companies Include Nexon Razer traveler twitch Gucci and Expressvpn just to name a few next the Authors's look at crypto's growth over The long term as you can see crypto has Seen rapid growth over the last 5 years Per the chart provided it shows the rate Of adoption between 2018 and 2023 in That time frame crypto has enjoyed a Compound annual growth rate of 99% which absolutely dwarfs traditional Payment growth rates of just 8% what's Amazing to see is that there are now More people people using crypto than They are using American Express
Strangely though the same chart also Shows crypto usage has surpassed PayPal And yet for some reason this fact Doesn't get a mention this is bizarre Because I mean it's PayPal not exactly Small competition the next Target is Mastercard the authors attribute this Insane growth to the speed and cost Effectiveness of digital assets which Make them more attractive to both Consumers and businesses alike it's Noted that crypto provides a great Opportunity for companies to cater to a Growing user base and allows for the Freedom for convenience Innovation and Most importantly Security to assess exactly why people Are adopting crypto AAA interviewed 7,000 people across seven continents in 2023 these countries were Argentina Brazil Mexico the USA Hong Kong Canada And the UAE they found that 63% of People are interested in using crypto as A payment option and highlights the Importance for companies to integrate Crypto into their business strategies When these people were asked what they'd Like to pay for in crypto the results Were quite intriguing 32% said they Would use it for high value and Specialty Goods 44% said they would use Crypto to pay for entertainment 45% said They would use it to pay for Real Estate Corporate and government services
Meanwhile 70% said they would use crypto For travel hospitality and Leisure but Most incredibly of all 80% of Respondents said they would use crypto For daily retail consumer goods on top Of this 55% said they would choose an Online store that accepts crypto over One that doesn't 56% said they would Shop more frequently with Crypto-friendly retailers And 43% would spend more online where Crypto was accepted so if you're a Business owner looking to boost your Revenue well there's your answer as for Preferences for being paid in crypto 39% Said they would love to be paid solely In crypto 34% said they would prefer to Stick to Fiat and 27% said they would Prefer the option to be paid in both now The reports authors note that the rise In adoption is more than just a number As it represents a huge shift in how People are handling money they outlined A few key drivers for this the first key Driver is the evolving regulatory Landscape which has been crucial for Boosting user confidence several Regulatory bodies are highlighted such As the monetary authority of Singapore Or masas and the European Union which Introduce the market in crypto asset Bill more commonly referred to to as mic There's also the UK's Financial conduct Authority or FCA and the South African
Financial sector contract Authority or Fsca now all of these Regulators are Working to align with Trends and help Secure and Safeguard the markets on a Global level this clearer regulatory Framework has also led to increased Institutional interests which help bring About the spot Bitcoin ETFs in the US From the 11th of January as you will no Doubt be aware this marked a key Milestone for crypto as it saw an Integration with the trafi sector making BTC a mainstream investment option it Also led to the Hong Kong roll outs of Spot Bitcoin ETS in April and if you're Wondering how those are played out you Can check out our recent video about Them using the link in the description Anyway the authors then discuss the Consumer protection measures brought in By the different regulatory bodies that We mentioned just a moment ago and and The restrictions they've put into place To ensure that protection these include Restricting the ways that crypto service Providers can advertise to Consumers as Well as forcing providers to clearly Outline the inherent risks involved in Crypto they also discourage the use of Crypto ATMs and introduce controls into The promotion of risky Futures and Derivatives products the authors note That this is and I quote to maintain the Integrity of the financial system
AKA preventing crypto from completely Overthrowing the broken trfi system Already in place however as annoying as Some of these regulations may be they do Allow for crypto to operate smoothly in A crossborder capacity while also Helping to legitimize cryptocurrency as An asset class the authors then Reference a 2023 report by PWC that Outlines crypto regulations in 35 Jurisdictions around the world this will Probably be useful to you if you want to Learn more about crypto regulation in Your own country so we'll leave a link To it in the description this came out In December 2023 so just make sure and Double check things haven't changed Since then anyway the regulatory data From PWC revealed that governments Around the world are building the Necessary Frameworks needed to ensure Transparency and protect consumers while Also fostering innovation of these 35 Jurisdictions 30 of them either have Legislation or regulation in place or Are at some stage of rolling them out Just two of them are not discussing Regulations while three have banned Crypto entirely these naughty step Dwelling nations are China Qatar and Saudi Arabia for anyone wondering the Authors also note that 32 countries have Either put measures in place or are Discussing measures to protect against
Money laundering or the financing of Very very bad stuff if you catch my Drift in the next part of the report the Authors look at other driving factors For crypto adoption outside regulation One of these has been the haling and its Effect on the supply of BTC as the Report States and I quote this Deliberate slowdown in Supply growth Mimics the extraction limits of Natural Resources inherently boosting bitcoin's Value over time and and this control of Btc's inflation is why you'll view it as A digital Gold not quite sure I agree with a bit About mimicking the extraction of Natural Resources but it's an Interesting analogy nonetheless Historically halings have been bullish Catalyst the anticipation of this Monumental event means that people ape In before it takes place and number goes Up and with halvings expected to Continue until around 2140 when the last BDC is due to be mind this means in Theory number go up for many many years Bringing in new investment from casual Observers and dedicated enthusiasts Alike another key driver for crypto Adoption that the author's mentioned is Good oldfashioned fomo this excitement Is often Amplified by these Outlets as They discuss the success of moonboy Millionaires in the crypto industry the
Authors note that in response to the Surgeon interest in crypto there are now Many platforms helping to educate people On the wonders of blockchain Technology While we're on the topic why not help This platform by subscribing to the Channel if you haven't already in the Next part of the report the authors note That as the fear of missing out brings More people into the space there are a Growing number of Bad actors who will Exploit them with scams and rug PS not Only is this bad at the individual level It's also bad for the crypto industry as A whole as it deters further adoption This is why a robust regulatory Framework is essential for the future of Crypto next the authors look at another Key factor driving crypto adoption which Is its use as a hedge against inflation The report goes into quite a bit of Detail with this one and rightfully so Let's take a look the authors start by Saying that during turbulent economic Conditions where inflation runs rampant Crypto has become a Ed for many Countries such as turkey and Venezuela Have hyperinflation so severe that People are using crypto instead of their Local currencies which continue to Devalue at an alarming rate in cases Like these crypto can actually be a Source of stability despite its relative Volatility simply because it's less
Volatile than these Fiat currencies as You can see from this table there are Some shocking projections for the annual Inflation rates that we can expect from Zimbabwe Argentina Venezuela and turkey Turkey has the lowest projection for Inflation growth at 59.5% which is still bloody massive Venezuela however has a projection of 100% inflation meaning that money Supplies will literally double this year This is nuts but it pales in comparison To Argentina's projection of 20 49.8% inflation and is microscopic when Compared to Zimbabwe's projection of a Staggering 561 yikes and to really drive this point Home the authors choose Argentina as a Bit of a case study they find that Crypto has become a vital part of Everyday life for argentinians in fact Chainalysis data reveals that there were 85.4 billion doar worth of crypto Transactions in Argentina in 2023 alone But just how bad is inflation in Argentina to Warrant this level of usage Well it's pretty shocking as you can see From this chart the value of the Argentine peso has plummeted by over 74% Year onye while the purchasing power of Crypto has continued to climb according To this chart btc's value in Argentinian Pesos went through the roof This explains why crypto has become an
Everyday component of daily life for Around 5 million Argentinians and it has become a Necessary tool for people looking to Avoid the volatility of their local Currency let that sink in now the report Concludes by saying that the continued Rise in cryptocurrency adoption is Likely to drive more Innovation and also Includes a quote from Bill Gates if says And I quote we always overestimate the Change that will occur in the next 2 Years and underestimate the change that Will occur in the next 10 for once we Have to say that we agree with Bill on Something and this begs the question of Which cryptos you can add to your Portfolio that have the most potential Well as you've probably guessed the Cryptos getting the most attention from All continents are layer ones such as Bitcoin ethereum BNB salana ton coin and Cardano however perhaps you're more Interested in other narratives such as Game fight which by the way has seen an Overwhelming majority of its interest Coming from Asia crypto falling under This category could include immutable Gala and beam just to name a few or Maybe you're more interested in the Future of ai's development and Involvement in blockchain technology This sector has seen a lot of interest From Asia Europe and North America AI
Crypto projects are numerous and news Flash a lot of them seem to have pretty Tenuous links to AI at best but leaders In this Niche such as render bit sensor Are now Staples in the top 100 by market Cap alternatively you could be Interested in defi narratives which have Seen traction coming from the likes of Europe Asia and North North America Prominent defi projects include Unis Swaps uni Jupiter's Jupe as well as Others like Ave or maybe you think that tokenized Real world assets or rwas will be the Way forward well you wouldn't be alone Here because these have seen lots of Investments mainly coming from Africa And Europe projects you could consider Looking at include Ono Mantra and Pendle And if none of these sound like your cup Of tea and you want to throw all caution To the wind then you could throw your Money into the mem coin casino which has Seen roughly equal levels of investments From all over the world now you can Learn more about which narratives we Think have the most potential by Checking out our video on just that link Is in the Description okay well that is all for Today's video if you found it insightful Let us know by hitting smashing or Whacking the Subscribe buttons and Turning on that notification Bell if you
Think this video could help others Consider to share it with them if you Want to trade crypto without paying an Arm and a leg then check out the coin Beer deals page it has everything you Need it has sign up bonuses of up to $60,000 on some of the best exchanges And trading fee discounts of up to 60% We also have discounts on some some of The best hardware wallets that money can Buy the links are of course in the Description thank you so much for Watching and we'll see you all in the Next one this is Jessica signing off [Music]
