– Bitcoin has lost over half its value since the beginning of the year.
– In six countries, more than a third of the adult population continues to buy or sell cryptocurrencies at least once a month.
– Nigeria and Turkey, each with more than 50% monthly active adult crypto traders, top the list of 40 countries surveyed.
– The study is based on surveys with representative samples of crypto users in each country.
– Some of the worlds more developed countries are on the low-adoption end of the scale with the UK, Germany, France, Japan, and China having just about 10% of their adults as active crypto traders.
– Nigeria, Pakistan, and India are in the top 6 of the worlds most populous countries and will each have more people in 2050.
– Most countries in the top 10 for crypto trading have per capita incomes below $30,000.
– Crypto holders around the world are in it mainly for the money they hope to make from it, not as means of making payments.
– Policymakers and innovators can learn a lot about the financial services ecosystem by keeping tabs with what motivates crypto users.