Philippines Ranks 2nd in Crypto Ownership – Survey

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The Philippines ranks second in terms of ownership of cryptocurrency, GWI, formerly GlobalWebIndex, 2021 Q4 broad global survey revealed.

According to the survey, 22.7% of Filipino respondents own and use crypto.

Turkey tops the survey with 23.8% crypto owners, the Philippines as the second, then followed by Argentina (20.4%), Thailand (20.3%), South Africa (19.5%), Nigeria (18.5%), Singapore (17.9%), Indonesia (17.4%), Brazil (16%) and the United States (14.2%).

The survey targeted internet users aged 16 to 65 years old, with 15.5% of the crypto owners being men aged 25 to 34 years old, while 10.4% of the crypto owners are women in the same age bracket.

Meanwhile, in a different survey from Finder Cryptocurrency Adoption Index, the Philippines has roughly 12 million crypto owners and users as of April 2022, which is lower than its report last January 2022 with around 15.5 million crypto owners and users.

In addition, the survey also found that Bitcoin is the most popular crypto in the country, with 37.8% of the 12 million crypto owners having BTC in their wallets.

Next to BTC as the most popular are Dogecoin (DOGE) at 22.3%, Ripple (XRP) at 21.9%, and Ethereum (ETH) at 19.2%.

However, agreeing to the above survey report, men are also more engaged in crypto ownership, with 62.5%, compared to the 37.5% women.

The Finder Cryptocurrency Adoption Index survey also targeted internet users from 27 different countries, with approximately 150,000 respondents.

On the other hand, another data discovered that 74% of Filipinos are aware of crypto ownership and its uses in the country.

Online Magazine Cointelegraph showed that the country’s peer-to-peer trade in the crypto market exceeded $1 million for the first time last 2020, when Community Quarantines started due to the Covid-19 Pandemic.

Recently, Maya, formerly Paymaya, got a digital bank license from the Central Bank and rebranded its e-wallet as an “all-in-one money app,” including the launch of availability to buy and sell crypto on its application.

While GCash stressed that it is already available as a mode of payment across several exchanges such as Binance, Philippine Digital Assets Exchange (PDAX), Paxfulmake, and more “to be added soon.”

In April, Luis Buenaventura II, Yield Guild Games’ Country Manager for the Philippines, compared on his Cryptoday series, the three different crypto exchanges available in the market, while adding that there is still no sign of the much anticipated “GCrypto” service of GCash.

This article is published on BitPinas: Philippines Ranks 2nd in Crypto Ownership – Survey

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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Nath Cajuday

BitPinas is the oldest blockchain and cryptocurrency news outlet that covers the Philippine blockchain and crypto scene. We are also writing general and international blockchain topics that are relevant to our audience.