A report from Hootsuite has found the Philippines as the nation with the highest amount of cryptocurrency owners with three of the top ten countries coming from the Asian continent.

The research, which cited GlobalWebIndex, saw the Philippines top with 17% of internet users holding crypto. Thailand came in fourth behind South Africa and Brazil in second.

Indonesia, which placed sixth worldwide, gained the headlines as 11% of internet users had cryptocurrencies. With the countrys enormous population of 270 million, that means a huge number of people are holding cryptocurrency in the nation.

However, whether the statistics put forward by the report are wholly accurate remains to be seen. Another Statista report on blockchain wallet ownership worldwide put the global figure at 44 million users.

In Indonesia, only 64% of the country has access to the internet making the 11% figure of cryptocurrency even more interesting, as well as less plausible. As any commentators looked to see the positives of the report, others, like Twitter user @DouglasTan30 have called for calm.

Although the statistics may have overstated the numbers, it is not right to say that the nations of Indonesia and the top-ranked country, the Philippines. Both governments have strong crypto communities and regulations to match this growing trend.

Digital payments have been apart of the landscape for a while too. 7 Eleven stores across the Philippines accept Bitcoin. Whatsapp have looked into making digital payments on its Indonesian version.

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Report: Asian Nations are Increasing Cryptocurrency Usage - Asia Crypto Today