Thinking of investing in Bitcoin? Here are the countries that love it, and use it, most often.
Worldwide, bitcoin adoption has definitely spiked this year. With usage fluctuating more than it has ever before. While it could be the result of a post-covid world, it may also be due to the fact that cryptocurrencies, and the digital infrastructures that fuel them, are getting the focus and attention they have long deserved. While many of the top countries of adoption haven’t changed much in the past ten years, those up and coming may just surprise you. Recently, PayPal and Visa introduced crypto to their payment network. Yes, given these circumstances, we now know we’re in front of something big with a lot of potentials.
It can definitely be a difficult concept to quantify, especially when exchanges like Bitvavo make it so simple to invest in bitcoin from nearly anywhere on the planet. But these countries are definitely the tycoons of the crypto world. With more innovation and investment than any others. These countries are not only an excellent indication of bitcoins global market health, but can also help investors better gauge future potential of technological advances. So even if you’re a new investor- here are the countries to keep an eye on for crypto.
The United States has long been a global hub of technology and digital business- even today, not much has changed in that respect. The US still houses more crypto investment technologies, exchanges, trading platforms, and mining facilities than most other countries. Despite this huge focus on development and maintenance of some of the biggest crypto firms known to the world, there actually aren’t that many crypto hodlers within its borders. While the individual number of crypto investors may be smaller than other countries, the US still represents a larger percentage per capita than many others.
China has had an infamously tumultuous relationship with crypto. The government has often made global headlines for their strict laws and regular crackdowns on crypto investment policies. However, the country still holds a large number of big investors, as well as a huge amount of mining power. Despite unfriendly laws regarding digital currencies like bitcoin, its citizens still show a vested interest in the coin.
Japan has always been on top of the pile when it comes to discussions regarding crypto. Besides having exceedingly friendly crypto laws, and a government that has definitely made clear their positive stance on digital currency, Japan is one of the few countries in the world that recognizes bitcoin as an actual currency. Huge numbers of BTC and other cryptocurrencies are exchanged each day on Japanese platforms, and many “bitcoin whales” are thought to be from the small island. These factors have been influencing many digitally minded businesses and crypto networks to set their sites on Japan for their future business functions.
While Spain may not focus heavily on the development of digital currency businesses and technology- they are an absolute beast when it comes to supporting public adoption. Many of their regular banking ATMs are crypto friendly, and nearly 10% of the country’s population admits to having some form of crypto asset. However, without technological fundamentals like DeFi business, exchanges, and blockchain technology focused enterprises, the country takes a hit as one of the top investors.
Up and Coming
There is also something to be said about the countries that have seen surges of interest in digital currencies and technologies. While none of the following countries could be considered heavy-hitters in the cryptocurrency universe, they are definitely worth mentioning based on the positivity of the public alone.
As of May of this year, Nigeria was reported to lead the pack in terms of youth (18-24) users, with a staggering increase of 210.6%. These users have also been seen to be putting their crypto where their mouths are, as during recent protests, users began using social media and bitcoin savvy to continue to speak out against rampant corruption and brutality.
Female crypto users jumped by 43% worldwide, with Grecian women holding the torch proudly. The country saw a 163.67% increase in female users over Q4 of last year. The country has long been plagued by a devastating financial crisis, remnants of the 2008 global financial crash. Recently, the economic climate has not been helped, as Turkey is continuing to send threats of possible contestation of gas rights in the East Med. Leaving residents with little to no trust in the security of centralized banks- many are looking towards crypto for some much-needed stability.
While the country’s crypto exchanges have stumbled due to recent hacks, it hasn’t stopped them from continuing to further embrace the powers of cryptocurrencies. This week, Australians were delighted to learn that crypto debit cards would soon be debuting in the country, allowing them to withdraw from ATMs and make regular purchases- with their crypto. Which could be one of the most exciting moves in the public adoption space this year.