The number of crypto holders has increased dramatically in the past year, with nearly half of all holders worldwide buying cryptocurrencies for the first time in 2021, according to a new report.

Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, surveyed nearly 30,000 respondents in 20 countries between November 2021 and February 2022 to present a picture of a rapidly growing crypto ecosystem. The company released the survey results as part of its 2022 Global State of Cryptocurrency report, which it shared with Cointelegraph on Monday.

According to Gemini’s findings, cryptocurrency usage increased in 2021 in countries such as India, Brazil, and Hong Kong, with more than half of respondents starting to invest in crypto in 2021. The number of such respondents was 54% in India and 51% in both Brazil and Hong Kong. Kong.

Elsewhere in the world, participants from Latin America (LATAM) and Asia Pacific (APAC) also bought an active cryptocurrency in 2021, with 46% of participants from Latin America and 45% from Asia-Pacific buying their first cryptocurrency in 2021 2021 Forty- Four percent of respondents in the US and 40 percent in Europe started investing in 2021, according to the report.

The twins also found that countries like Indonesia and Brazil lead the world in terms of the proportion of crypto investors in the general population. According to the report, 41% of respondents in Brazil and Indonesia reported owning a cryptocurrency, compared to 20% in the US, 18% in Australia, and 17% in Europe.

Cryptocurrency ownership is reported to be significantly higher in countries such as the United Arab Emirates, Singapore and Israel, with 35% of respondents in the UAE, 30% of respondents in Singapore and 28% of Israelis surveyed reporting digital ownership.

Cryptocurrency ownership by country. Source: Gemini
The report also cites uncertainty around cryptocurrency regulation and lack of education as two of the biggest barriers to mainstream adoption of cryptocurrencies. Among non-owners, 39% of respondents in Asia-Pacific, 37% in Latin America and 36% in Europe said that there is legal uncertainty regarding cryptocurrencies. 30 percent of respondents in the Middle East, 24 percent in Asia-Pacific and 23 percent in Latin America also indicated that cryptocurrency tax reports prevent them from buying crypto.

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As Cointelegraph previously reported, the Gemini predicted last year that the number of U.S. cryptocurrency investors would almost double in 2021. According to some other studies, the number of new cryptocurrency investors in the country was much higher than in 2021. The “2022 Perception Report” published by cryptocurrency exchange Huobi in January, about 70% of cryptocurrency holders in the United States first started investing in cryptocurrencies such as Bitcoin (BTC) in 2021.

Source: CoinTelegraph