return icon

Vietnam in global top 10 for cryptocurrency ownership rate

The Covid-19 pandemic has attracted capital from Vietnamese investors in cryptocurrencies. About 6 million Vietnamese own digital assets.


Illustrative image.


In an interview with Techinasia, investor Nam Nguyen, 25, said he invested $3,000 in the cryptocurrency market during the boom in March 2021. The profit he earned was used to maintain his restaurant after the social distancing period in Ho Chi Minh City. He continues to invest in this market.

“Unlike the stock market, the cryptocurrency sector is more convenient for me because it operates 24/7. I often wake up late and miss the morning session of the stock market," said Nam.

According to data from cryptocurrency payment company Triple A, about 6 million Vietnamese own digital assets, equivalent to 6% of the population. Vietnam is ranked 9th on Triple A's ranking of countries with the highest percentage of users holding cryptocurrency in the world.

According to rankings by analytics firm Chainalysis, cryptocurrency adoption among individual investors increased by 881% in 2021. Vietnam, India, Pakistan, and Ukraine are the leading countries in this ranking.

According to Techinasia, although digital assets have not been recognized and protected by Vietnamese law, the blockchain field is still becoming an investment trend, especially for the middle-aged generation and the Gen Z.’s report released last August shows that Vietnam is the leading country in terms of cryptocurrency usage. This data comes from a survey of 42,000 people across 27 countries.

Specifically, besides Vietnam, other emerging economies such as India and Indonesia are also leading the trend of using cryptocurrencies. According to Finder, the rate of cryptocurrency usage among respondents in Vietnam was 41%, of which the number of people who have bought Bitcoin was 20%.

Except for India, the top four names in the survey are Southeast Asian countries including Indonesia (30%), Malaysia (29%), and the Philippines (28%). The rest are mostly located in the Americas, Europe and East Asia.

The UK and the US are the two countries with the lowest rate of cryptocurrency usage in the survey, with 8 and 9% respectively.

In a June 2021 report from CoinTelegraph, Vietnam ranked 13th in the world in terms of Bitcoin investment rate in 2020.

Le Ha

Investors rush to pour money into bitcoin

Investors rush to pour money into bitcoin

Investors who bought bitcoins for $35,000 in July will make substantial profit if they sell now, when prices are high.

Vietnam to review draft policies on national digital currency

Vietnam to review draft policies on national digital currency

The move is part of a national strategy to promote non-cash payment in Vietnam in the 2021-2025 period.



2022 FDI report to focus on green growth, economic structure

First Vietnamese victim in Manchester fire identified through fingerprint

Partial human remains recovered from Bismark House Mill in the UK have been identified, through fingerprint analysis, as Nguyen Van Uoc, according to the Vietnamese Embassy in the UK, citing an announcement on August 12 by Greater Manchester Police.

Vietnam seeks foreign investment in medical devices production

The Vietnamese medical devices market, which is growing annually at more than 18%, relies heavily on imports, representing significant opportunities for foreign businesses, according to the Ho Chi Minh City Medical Equipment Association.

North-South express railway to seek Politburo’s approval

The Ministry of Transport will submit to the Politburo for consideration an investment policy for the construction of a North-South express rail link, which would cost up to 58.71 billion USD, this September.


Trains to increase during National Day holiday

Challenges for supermarket chains

The recent shutdown of multiple Bach Hoa Xanh (BHX) stores has been the talk of the town for the past few weeks. What prompted the leadership of this grocery store chain to come to such a decision despite the considerable growth in total revenue?

Re cakes: Phan Thiet’s specialty sweet treat

Re cake, a specialty of Phan Thiet City, Binh Thuan Province, tastes so delicious that no visitor can resist it.

A new move for open market operations

The State Bank of Vietnam (SBV) has recently made a new move regarding open market operations (OMO). Valuable papers are purchased at a competitive interest rate, instead of a fixed rate as before.

An insight into Vietnam’s indebtedness

National debt, or foreign debt, when reaching an excessive level, often leads to an economic crisis.

Nguyen eyes bigger competition after ASEAN Para Games wins

Tran Van Nguyen stands only 1.27m and has short arms and legs. But he has dominated the top podiums of many competitions.

Vietnam to have national marine spatial plan by 2030

A national marine spatial master plan is being developed, aiming to fuel the sustainable development of marine economic clusters and establish sea-based economic hubs by 2030.

Digital business lines developing well

Major tech companies are looking to expand in Vietnam, on the back of strong hardware export and IT figures for the country's telecom industry so far this year.

Vietnam targets launch of modern digital finance platform by 2025

Minister of Finance Ho Duc Phoc has signed a decision promulgating the Ministry of Finance's digital transformation plan to 2025, with vision to 2030.

Vietnam, Southeast Asia find ways to rise amid difficulties

Vietnam and the Southeast Asian region have managed to maintain economic stability and growth despite COVID-19 and the Russia-Ukraine conflict, according to experts.

CPI method of calculation is correct: economist

“Someone told me they had a feeling that the CPI is not correct. I asked them on what grounds. Scientifically, that cannot be proven,” said economist Vo Tri Thanh.