Gemini crypto exchange shows findings in its report, 2022 Global State of Crypto, that 2021 was a big year for crypto. It shows that 41% of crypto owners globally purchased their crypto for the first time in 2021 because they are crypto-curious.
Global State of Crypto
“In 2021, cryptocurrency reached a tipping point, evolving from what many considered a niche investment into a global, established asset class.”
Gemini Exchange in its 2022 Global state of crypto report.
Winklevoss’s Gemini has considered it a top priority for them as a global firm to understand how crypto is being adopted and deployed around the world, as well as the barrier to entry. This is why they have introduced this type of report to explore the attitudes, drivers, and adoption of crypto globally.
The exchange reportedly surveyed about 30,000 adults across 20 countries – United States, Brazil, Colombia, Mexico, Denmark, France, Germany, Ireland, Norway, UK, Israel, UAE, Kenya, Nigeria, South Africa, Australia, Hong Kong, Indonesia, India, and Singapore, to uncover insights and illustrate where crypto is as an industry to predict what the future holds.
Methodology
The survey was conducted online between November 23, 2021, and February 4, 2022, on behalf of the exchange by Data-Driven Consulting Group. It explored the awareness, motivation, and general attitudes toward cryptocurrencies and exchanges as well as the drawbacks to ownership.
Findings
2021 Was Crypto’s Breakout Year:
More than half of crypto owners in Brazil (51%), Hong Kong (51%), and India (54%) got started in 2021. Globally, 41% of respondents said they are crypto-curious. The crypto-curious are defined as consumers who do not currently own crypto but are either interested in learning more or say they are likely to acquire cryptocurrency in the next year
Other notable findings are:
- Amongst the crypto owners, women in developing nations led the way representing over 50% of owners in Israel, Indonesia, and Nigeria. While in developed countries it is not the case as only a third of the crypto owners are women.
- Inflation is a primary driver for crypto adoption seeing as respondents in countries that experience currency devaluation showed interest in buying more crypto in the next year than those with more stable currencies.
- In a Region like Latin America, the tax complexities of owning cryptocurrency have kept them from investing in crypto.
- Lastly, respondents said they are more likely to get started with crypto if there were more educational resources than recommendations from friends.
“Crypto adoption reached a true tipping point last year, becoming an established economic driver and a valued investment across the globe,” said Noah Perlman, Chief Operating Officer at Gemini. “We expect to see the influx of crypto investors continue into this year with concerns about inflation in the U.S. and globally driving interest. Education also remains a global barrier to adoption, and providing investors additional resources is key to bringing new users into the crypto ecosystem, especially women who make up a majority of the crypto-curious audience.“
Noah Perlman, COO at Gemini.
