Sweden is consistently rated as one of the most liveable countries in Europe. Prosperous, peaceful, with a high employment rate and a highly educated population, there are a lot of things that Sweden ranks highly in. But where does the country stand when it comes to crypto? Here are some of the things that Sweden and Swedish people do differently from other countries when it comes to finance on the blockchain.
How Many People In Sweden Own Crypto?
Sweden is pretty clued-in when it comes to cryptocurrency. Although it would be wrong to say that you can find every single Swede spending their spare time finding fresh tokens on KuCoin or anything like that, there is a significant minority of people in the country who do own crypto of one kind or another. Surveys suggest that somewhere in the region of seven per cent of the country’s adult population holds crypto. This means that it is somewhere around par for the course when it comes to its fellow Nordic nations. It is worth pointing out that, because Sweden has the largest population of any Scandinavian country, there are more Swedes with crypto than anyone else in the region, but Sweden’s overall cryptocurrency take-up is less than lower-populated Norway, where around 12 per cent of the population has some kind of blockchain-based money.
Why Sweden’s Crypto Adoption Rate Might Go Up
If you are a crypto enthusiast, it may be encouraging to see that, while Sweden’s crypto adoption rate is less than the worldwide average of around nine per cent, it is still a country where there is a growing understanding and adoption of cryptocurrency. Part of this is due to Sweden’s increasing fondness for the digital world. The country is digitally literate, there is widespread internet usage, and fintech is pretty widely used. Research from professional services network EY suggests that there is a lot of room for growth, with a potential 20 per cent of Swedes predicted to own one form of crypto or another by the year 2034. This puts it roughly at the same sort of level as other Scandinavian countries and, by extension, the rest of Northern and Western Europe.
Why Other Countries Have More Crypto Holders
There are, however, some reasons why Stockholm may not become the next crypto capital of the world. While there are a lot of advantages to living in Sweden, that means that holding crypto is less likely to be a necessity and more likely to be an interesting optional extra. If you look at most of the countries where crypto adoption is at its highest, a lot of them are far less prosperous than Sweden, have far fewer political freedoms than Sweden, and have currencies that are far more likely to collapse than the Krona. So, more people in those countries might well feel like they need to have some crypto in case of the very real situation that things might go badly. This is, it is safe to say, far less likely to happen in Sweden.
Some Facts And Figures
Here are some other important things to note about the people in Sweden who hold crypto. The majority of Swedish crypto holders first bought their coins and tokens this decade, while there are more men (10 per cent of the population) than women (three per cent of the population), and nearly half of them are aged under 30. Perhaps more interestingly, the demographic split is basically the same across the Nordic countries. Meanwhile, the most popular place for Swedes to buy crypto is the Coinbase exchange.