Vietnam Rank to 2nd in Global Crypto Ownership

If you follow the world of digital currencies, you may be surprised to discover that Vietnam is making significant strides in the crypto space.

According to a recent report by payment platform Triple-A, Vietnam ranks second globally when it comes to the percentage of the population owning cryptocurrencies. That’s right, a whopping 21.2% of Vietnamese people have jumped on the crypto bandwagon!

To put this into perspective, the only country that surpasses Vietnam in terms of crypto ownership is the United Arab Emirates (UAE), with an impressive 34.4% of its population holding digital assets. The Philippines, Brazil, Iran, and the United States—often regarded as leaders in the cryptocurrency industry—come in that order.

So, what’s the secret behind Vietnam’s crypto ? Well, it turns out that the Vietnamese government hasn’t imposed any bans on cryptocurrency ownership, which has made these digital assets an attractive option for many people in the country.

Le Thanh, the founder of blockchain startup Ninety Eight, points out that data from Triple-A and other organizations shows that cryptocurrencies have become a new type of asset that is particularly appealing to young people.

In December 2022, Coin98 Insights, a cryptocurrency data provider, conducted a survey that revealed nearly half (47%) of Vietnamese cryptocurrency owners were between the ages of 26 and 36, with 38% belonging to the 18–25 age group.

It seems that the younger generation in Vietnam is embracing the potential of digital currencies and is eager to be a part of this exciting new financial frontier.

But it’s not just about ownership; Vietnamese crypto investors are also making some serious profits. According to data from blockchain researcher Chainalysis, Vietnamese cryptocurrency investors collectively earned an impressive $1.18 billion in 2022, securing the third-highest spot globally in terms of crypto earnings.

And if you thought that was impressive, wait until you hear this: The Wall Street Journal reported that in May 2023 alone, Vietnamese traders exchanged a staggering $20 billion in cryptocurrencies on the popular Binance platform, making Vietnam the fourth-highest country in the world in terms of crypto trading volume.

It’s clear that Vietnam is quickly becoming a major player in the world of cryptocurrencies. With a young, tech-savvy population and a government that hasn’t placed any restrictions on crypto ownership, it’s no wonder that so many Vietnamese people are eagerly embracing the potential of digital assets.

As the global crypto landscape continues to evolve, it will be fascinating to see how Vietnam’s role in this exciting new industry develops. Will the country continue to lead the pack in terms of crypto adoption and trading volume? Only time will tell, but one thing is for sure: Vietnam is definitely a crypto powerhouse to watch!

Here’s a table of the top 10 countries by crypto ownership, along with the percentage of the population owning cryptocurrencies and the estimated number of crypto owners: Figures are rounded as of 2023.

The Information is Collected from MSN and Vietnam News