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Here are the countries where women own the most cryptocurrencies

Cryptos

4 min read

A new study by Forex Suggest analyzed global cryptocurrency owner statistics to better understand the role of women in the cryptocurrency world in 2023.

It's worth noting that accurately determining the number of cryptocurrency holders and distinguishing between genders is not straightforward. Estimating the proportion of women holding Bitcoin alone, excluding other cryptocurrencies, is even more challenging. However, Forex Suggest's methodology involved conducting surveys and user polls while analyzing data provided by exchanges and companies related to cryptocurrencies.

1/ Vietnam (24,4%)

Vietnam is the country with the highest proportion of women owning cryptocurrencies, with almost 24% of them owning cryptocurrency. The country also has the most gender-balanced adoption with 53% men and 47% women among cryptocurrency holders.

2/ The Philippines (9,64%)

In second place, we find the Philippines on the list of countries with the highest proportion of female cryptocurrency owners, at 9,64%, representing nearly 5,5 million women who hold cryptocurrencies. The Filipino population was particularly active during the Covid-19 pandemic, notably with play-to-earn games, and especially with the game Axie Infinity.

3/ India (9,18%)

While India is the world leader in Bitcoin adoption , it also holds a significant position in terms of female adoption, with over 9,18% of Indian women owning cryptocurrencies. This represents more than 60 million women, roughly equivalent to the entire population of France. It's worth noting, however, that India's total population is estimated at 1,4 billion.

4/ Venezuela (8,42%)

Fourth place is occupied by Venezuela with 8,42% of Venezuelan women who own cryptocurrencies. You should know that Venezuela ranks first in Latin America in terms of the percentage of women owning cryptocurrencies.

5/ South Africa (7,60%)

In fifth place, we find South Africa with more than 7,60% of the female population indicating they own cryptocurrencies. South Africa occupies an important place in the adoption of Bitcoin in Africa by having many blockchain-related companies established in the country.

6/ Singapore (7,51%)

Bitcoin adoption among women in Singapore is significant with 7,51% of women owning cryptocurrencies in the country. It is the first country with a high GDP per capita to be included in this list. Singapore is renowned for being a crypto-friendly country, particularly attractive for its high level of digital connectivity and growing interest in fintech.

7/ United States (6,88%)

In 7th place, we find women living in the United States who own 6,88% of cryptocurrencies. The USA is a leading country in the adoption of cryptocurrencies on several levels: It is one of the countries with the most bitcoin miners, the country with the largest crypto companies and overall, the most educated population cryptocurrencies and blockchain.

8/ Brazil (6,63%)

Bitcoin adoption by women in Brazil is following a similar trajectory to that of many other Latin American countries . Nearly 6,63% of Brazilian women report owning cryptocurrencies. Brazilian women are increasingly involved in the cryptocurrency ecosystem, whether as investors, users, or professionals in the sector.

9/ Nigeria (4,25%)

Nigeria is the second African country on the list, with 4,25% of its female population owning cryptocurrencies. Nigeria leads Africa in Bitcoin adoption , with a population that makes extensive use of cryptocurrency exchanges, judging by the transaction volume on exchange platforms, particularly peer-to-peer.

10/ Argentina (4,22%)

Argentina has faced economic challenges in recent years, which has fueled interest in cryptocurrencies as a hedge against inflation and financial difficulties. Women in Argentina own 4,22% of cryptocurrencies.

Final word on women owning the most cryptocurrencies

From this list, we can conclude that cryptocurrency adoption is experiencing steady growth and reaching an ever-increasing number of women worldwide. It's worth noting that the women with the most cryptocurrency holdings are primarily located in developing countries with low or middle GDP per capita. Thus, only two of the ten countries on this list are considered developed: Singapore and the United States.

This confirms studies conducted by Chainalysis, which showed that developing countries were the ones recording the greatest profits from crypto-assets . This attraction to cryptocurrencies is explained in particular by the fact that Bitcoin offers a prime alternative to the banking and financial system, which often proves inadequate in these countries.

More generally, and within the crypto industry, the study reveals a significant disparity between the number of male and female CEOs, with only 6% being women. Efforts to increase the inclusion of women are therefore necessary, especially since many experts believe that integrating women into the industry could make it more efficient.

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