6.1% of the population of Vietnam owns cryptocurrency, ranking 11th in the world

About 6.1% of Vietnam’s population owns cryptocurrency, according to a recently released report by the United Nations Conference on Trade and Development (UNCTAD). UNCTAD also said that the global use of cryptocurrencies has been on a strong upward trend during the COVID-19 pandemic.

The organization identified two reasons cryptocurrencies are well received at the moment: their ability to support fast, low-cost money transfers, and many people see it as a way to “hide” from inflation.