The crypto currency wave is gaining momentum fast and spreading across the whole world. As it stands now, some countries across the globe are embracing crypto currency at a high rate and many more are likely to follow in the coming days. 

As the year 2025 draws closer, it will be interesting to see how many countries will be added to the long list of countries that embrace crypto currency and blockchain technology.

In the year 2024, the numbers of people owing crypto currency rose to 562 million from 420 million in 2023 which represents a 6.8% of the global populatio.These details further show that the majority of the crypto currency users across the globe are the youth aged between the years of 24 to 35. 

In this article we will explore countries that spearheaded the crypto adoption wave in 2024 and examine the benefits they reaped from these initiatives.

Countries with Top Crypto Currency Usage in the World

An image depicting crypto currency mass adoption across the globe

As the numbers of countries that have embraced the use of crypto currency in the world continue to increase, there are some notable names that top the list. 

The United Arab Emirates is the first country on this list with a 25.3% crypto currency usage followed by the USA at 24.4%. Here are the top countries that have embraced crypto adoption to their core and led the crypto wave in 2024.

United Arab Emirates (UAE)

The UAE leads the list of countries that have embraced the usage of crypto currency.  It is projected that crypto currency usage in UAE will grow by 263 million dollars which represents a 3.34% growth rate in 2024 alone. In a bid to increase the adoption of crypto currency the UAE took some measures which have since paid off. For instance, the country passed tax friendly regulations which opened more crypto currency adoption in the country. Apart from that, UAE has also invested a lot of resources in creating an innovative environment in which crypto currency can thrive and grow.

Restaurants in Dubai accept crypto currency as a form of payment

That is not all; crypto currency has received a very strong backing from the UAE government which has created a very strong ground for the currency in the region. These factors combined with the fact that it has a very strong economic ranking and technology which has continued to create a crypt friendly environment.

At this rate, UAE is projected to be on the path to becoming the first country that will fully adopt the use of crypto currency. Some of the main areas that accept crypto currency as payment in the region include casinos, restaurants like Bake N More, Café Beirut and Doge Burger among others with Bitcoin leading the type of crypto currency that is widely accepted in the region.

United States of America (USA)

The United States of America is the second country on this list. It has continued to record an increase in crypto currency usage with an adoption rate of 41.5%. The country’s strong index and other technical crypto breakthroughs are believed to be the reason behind the high adoption and the overall growth of crypto market.

Crypto currency are becoming a common mode of payment in USA

However, while the USA has made tremendous progress in adopting crypto currency like Bitcoin and making it an accepted currency in the region, these efforts face a serious growth threat. You see, unlike in the UAE where the government policies create an environment in which crypto currency usage can thrive, the same cannot be said of America.

While the United States of America is making tremendous progress in the mass adoption of crypto currency, these efforts face a serious threat all due to the USA complicated legal structure which governs cryptocurrency. These complex legal structures are thought to be one of the reasons that are impeding the mass adoption of cryptocurrency in America. Nonetheless, the USA continues to embrace the use of crypto currency with businesses like PayPal and Microsoft accepting Bitcoin as a form of payment for their services and products.

Singapore

Singapore has cemented its position as one of the leading countries in crypto currency adoption. The country through its government has enacted effective measures which has boosted the efforts to ensure that crypto currency, especially Bitcoin, becomes a stable payment option in the region. The country has so far availed funding of 627 million all of which are intended to give crypto currency companies in the region a major boost.

Singapore is embracing crypto currency in its businesses

Singapore is nursing the ambitions of becoming a leading company in Asia in crypto currency mass adoption. The country continues to empower its industries especially those in tech to embrace the use of cryptocurrency. So far, a good number of restaurants in Singapore like the Guci and Sannies café accept cryptocurrency payment which is contributing immensely to the mass adoption of the currency.

China

China is another country that is carving a niche for itself in the crypto currency world. The country is marching on with crypto currency adoption with an estimated 78 million people which is about 5.5% of the country’s population believed to own at least one form of cryptocurrency. These numbers are expected to go up even more in the coming days as more and more people continue to embrace blockchain technology.

Image of a person transacting using BTC on phone

The progress of crypto currency adoption in China has not been a smooth sail though, it has faced some serious challenges along the way. For instance, the Chinese government put in place strict measures and regulations that sought to control the adoption of crypto currency in the country. These measures and regulations inhibited to some extent the growth rate of crypto currency. Fortunately, things are now looking great with many people and businesses now embracing cryptocurrency. Businesses like Alibaba group and others provide the crypto currency payment options which allows Chinese residents to use crypto currency to make payments.

Wrapping Up!

The crypto currency wave is sweeping fast across the world. Countries from across the world are embracing this form of payment fast and its only a matter of time before crypto currency becomes a standard mode of payment globally.