• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Indonesia government crypto bitcoin ban
Advertisement

1 in 9 Indonesians Now Own Cryptocurrency, Report

Anatol Antonovici by Anatol Antonovici
3 years ago
in News
0
Advertisement

About 11% of all Indonesians own some form of cryptocurrency, according to a recent report by Hootsuite, which cited GlobalWebIndex.


11% of Indonesians Own Cryptocurrency as Fiat Currency Devalues

With over 270 million people, Indonesia is the fourth most populous country in the world, and the fact that 1 out of 9 citizens own cryptocurrency demonstrates a rapidly expanding adoption level.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Indonesia is the sixth country by crypto adoption, only behind the Philippines, Brazil, South Africa, Thailand, and Nigeria. The Philippines leads the top with 17% of the population owning some cryptocurrency.

Indonesia is on 6th place by cryptocurrency adoption.
Indonesia is on the 6th place by crypto adoption.

More Indonesians prefer to hold crypto as the national currency, Indonesian rupee (IDR), is gradually devaluing. It fell against the US dollar to the lowest since 1998 and might update the record low soon. Since the start of the year, USD/IDR surged by about 20%, which is really a lot for a fiat pair. Most of the losses have been suffered this month amid the COVID-19 pandemic.

The 11% figure is impressive considering that only about 64% of Indonesians have access to the internet from any device.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Is Data Accurate?

The report was discussed on Twitter, though not everyone agreed with the figures. Some locals said that it is highly unlikely that 11% of Indonesians own cryptocurrency, as the number is exaggerated.

Indonesian here. The numbers are pretty misleading i think, as they might take 2017 bull run into account for calculating the 11%. In actual, there are so many fake accounts who signed up to the largest crypto exchange back to 2017, just to receive an airdrop. # sud be below 0.5%

— Douglas Tan (@DouglasTan30) March 23, 2020

The same report says that about 7% of the world population owns at least some Bitcoin or some of the altcoins. This means that more than 546 millions of people around the world own cryptocurrency. That figure is way higher than other estimations. For example, Coinbase CEO Brian Armstrong believes that there should be around 50 million crypto users worldwide.

A recent chart published by Statista shows that there were almost 45 million blockchain wallet users as of the last quarter of 2019.

Also, there are over 21 million Bitcoin wallets holding at least $1, according to BitInfoCharts data.

All in all, it’s true that Indonesia is at the front of cryptocurrency adoption.

Do you think that more than 27 million Indonesians own crypto? Share your thoughts in the comments section!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Anatol Antonovici

Anatol Antonovici

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

2 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

2 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

2 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Polkadot (DOT) Sees Renewed Attention While Orbeon Protocol...

    6 hours ago
  • BudBlockz (BLUNT) and Polygon (MATIC) Are The Only Coins...

    6 hours ago
  • DeFi Is About To Dominate The Next Bull Run With Lido DAO...

    6 hours ago
  • Avalanche (AVX) and Fantom (FTM) Won’t Make You 1000x...

    6 hours ago
  • Crypto Price Predictions: Solana (SOL), Aptos (APT), and...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.