Cryptocurrencies Ownership is at More Than Half a Billion People in 2024

Cryptocurrency trading is becoming an increasingly popular activity that involves buying and selling cryptocurrencies on online trading platforms. Although a relatively new and constantly evolving financial market, cryptocurrency trading offers great profit-making opportunities for those with a good understanding of the market and an effective trading strategy. 

However, due to the high volatility of cryptocurrency prices, it is also considered a high-risk investment. This guide aims to give you all the tips to get started as a day trader in cryptocurrencies and outline just how cryptocurrencies have developed, a mere 16 years after its inception.

The Figures and Statistics

It is said that 562 million people actively own cryptos in 2024. That’s 33.8% more than in 2023, which was when the number was only at 460 million. New studies show the evolving financial landscape and the growing adoption of digital assets. 

With a compound annual growth rate (CAGR) of 99%, new cryptocurrency holders are significantly outperforming traditional payment methods such as American Express and others with a CAGR of only 8% between 2018 and 2023. 

A fintech company, whose mission is to provide access to cryptocurrencies among professionals thanks to its bridge app, has revealed one of the most interesting studies for 2024.

The UAE is Leading the Way in Cryptocurrency Adoption

With 25.3% of the population (or about 2.4 million people), the UAE leads the global ranking of countries with the highest acceptance of cryptocurrencies. It is followed by Singapore with 24.40% (1.4 million people), Turkey with 19.30% (16.5 million people) and Argentina with 18.9% (8.6 million people).

The numbers look pretty clear: It’s not just the richest countries that believe in the benefits of blockchain and promising cryptocurrencies. Since the Turkish lira crisis in 2018 and its economic effects, the country’s residents already seem to be finding a new refuge in cryptocurrency holdings by placing themselves in the fourth position among countries with the highest adoption.

The study continues to show that Asia remains the continent with the largest number of holders: 326.8 million people. This is followed by North America with 72.2 million and Africa with 43.5 million.

However, the most impressive growth is in South America, with 116.5% of new owners between 2023 and 2024 (25.5 million to 55.2 million) and in Oceania with 114.3% growth (1.4 million to 3 million).

Europe remains the third continent with the highest growth: +60.3% of owners between 2023 and 2024 (from 30.7 million to 49.2 million)

Only Africa saw relatively weak growth last year, moving from 40.1 million to 43.5 million (+8.5%) despite Africans’ creativity in the cryptocurrency space.

Overall, the study shows that the overall adoption of the top cryptocurrencies is growing strongly, with impressive performance on every continent and country by country.

This highlights the increasingly important role of cryptocurrencies in the global financial system, which seems to be a solution that is being adopted in all countries.

Where can Cryptocurrencies be Traded?

To start trading cryptocurrencies, you do not have to undergo specialized training or do anything drastic. The most important thing you need to manage is finding a cryptocurrency exchange platform that you trust. This platform will give you direct access to the main trading markets and, above all, it will ensure the security of your transactions. 

Also, to avoid unpleasant surprises, it is important to choose only regulated interfaces that already have a good reputation in the sector. There are also many ways in which you can trade, in terms of interval, so you must ask yourself if you want to become a day trader or perhaps someone who looks at things more long-term. The decision is ultimately up to you. 

How Does Cryptocurrency Trading Work?

The way in which cryptocurrency trading works is quite simple but some of the settings can be complicated for beginners. Sometimes it can be a bit overwhelming to understand everything, therefore you should pay special attention to the topics mentioned below so that you might fully understand the process you should follow and the important questions you need to ask yourself.

The Big Question – Investing or Trading?

If investing in cryptocurrencies is generally done for the long term, trading is done for the short term. Of course, the goal is the same for both, which is to make money but in detail, there are many differences between the two transactions.

Variety Market

The cryptocurrency market is becoming increasingly diverse, offering unique investment opportunities for traders of all experiences and backgrounds. Due to the decentralized nature of cryptocurrencies, traders can invest in a variety of cryptocurrencies, each with its own unique benefits and challenges.

Whether you’re looking to invest in stablecoins or explore new opportunities in lesser-known altcoins, cryptocurrency trading offers a wide range of options for traders. In addition, fast and volatile market movements offer high-profit potential for those with a well-developed trading strategy.

Ultimately, the diversity of the cryptocurrency market is one of the main reasons why many investors are turning to this growing sector. By investing in a variety of cryptocurrencies, traders can diversify their portfolios and minimize the risks associated with market volatility.

How Gain You Gain in Investments When it Comes to Cryptocurrencies?

Thanks to cryptocurrency trading, investors in cryptocurrencies can make large or smaller gains. Between generating profits and generating passive income by practicing cadastral signing or planting crops, there is a choice. To ensure a profitable investment, it is necessary to take certain criteria into account.

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