On that scenario, this will probably create a global attractions which could trigger different perspectives.
Other neighboring countries will soon understand how cryptocurrency is worth for everybody's lives, and the reasons why it became in demand globally.
Topic: ㅤ (Read 266 times)
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good data, btw I am very surprised that Vietnam is in the first place, even the US and China are far behindranked 2nd and 3rd.. People in India, as well as Pakistan, are well aware that cryptocurrencies are the future
with this incredible growth, I am very optimistic that cryptocurrencies will be adopted in the next few decades
The global pandemic is one of the main reasons why crypto adoption increases I believe. Having people locked at their homes and some lost their jobs, they find another source of income and I think they found it in bitcoin and other cryptos that rewards people for their work.
Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.
And also, the play to earn games that are continously being introduce to people is another great addition.
Pandemic was 100% guaranteed to be the biggest reason. People were stuck at home and I have to say whenever USA government gave checks to people, we have seen increase in the bitcoin price as well meaning that people used that to buy bitcoins and that is just the most obvious way to see it, otherwise any other regular day we wouldn't be guaranteed a data point to show that but it is obvious that pandemic and the biggest increase ever happened all at the same time, the biggest ATH was 20k and during pandemic that became 64k and started from 5k or so as well during march 2020.Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.
And also, the play to earn games that are continously being introduce to people is another great addition.
This is why I am 100% sure that the price was definitely affected and the adoption was definitely affected by the current situation caused by the pandemic and I believe that we are going to keep seeing this for a while longer because even if people go back to work, they still can't give up on making money while staying in bed, that's just great.
Isn't this obvious? The rising prices of popular cryptocurrencies in recent times is a big indication that more and more investors are entering the cryptocurrency market primarily because they treat crypto as assets.
Very few investors actually utilize cryptocurrencies as payment methods in their day to day lives. Crypto adoption rates as payment methods are still quite low currently.
High TX fees and long TX times related to BTC, ETH etc are clearly the primary reasons for such low adoption rates.
Very few investors actually utilize cryptocurrencies as payment methods in their day to day lives. Crypto adoption rates as payment methods are still quite low currently.
High TX fees and long TX times related to BTC, ETH etc are clearly the primary reasons for such low adoption rates.
These numbers make hardly any sense. Are they saying that Kenya is no.1 as far as growth in P2P volumes are concerned? And Togo is ranked no.2. Seriously? And the have ranked the United States at 109, India at 72 and Russia at 122. And China is at 155th rank! Rather than "growth in P2P volumes", they should be measuring the actual volumes. Because an increase from $10 to $10,000 may be calculated as 100,000%, while an increase from $100 million to $150 million will be calculated as just 50%. Completely ridiculous methodology used by these guys.
The global pandemic is one of the main reasons why crypto adoption increases I believe. Having people locked at their homes and some lost their jobs, they find another source of income and I think they found it in bitcoin and other cryptos that rewards people for their work.
Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.
And also, the play to earn games that are continously being introduce to people is another great addition.
Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.
And also, the play to earn games that are continously being introduce to people is another great addition.
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While such countries as Venezuela, Kenya, Nigeria, Vietnam are increasing this direction. This is due to the devaluation of local currencies. Also, many countries restrict the withdrawal of currency from the country. Cryptocurrencies are a good solution to these problems.
I don't know for other but I can vouch for my country, the local currency Naira is typically worthless, a million Naira was around $2,500 few months back when a dollar was trading around 400Naira per dollar but currently you'll barely get $2000 which means holding naira is a waste of time. Everyone in the country is trying to secure their funds in dollars and the easiest easy to do that is involving themselves in the industry.
With just a wallet and internet connection, you can get your naira converted to dollars if you're involved in cryptocurency but if that was to be done with the banks, you'll have to go through different procedure that it can becoming discouraging.
Crypto adoption will continue to increase in Nigeria as the masses has seen it as the saviour to the devaluation happening to Naira. I hardly have any Naira in my account, all my funds are stored in crypto and only get exchange to naira when the need for spending araise because spending directly with crypto isn't yet common in the country. I'm pretty sure others are doing the same too.
Anyone also wondering why El salvador is not on the top list?
And i assume the pandemic plays a role in this numbers to go much higher this year than previous, no doubt many people are looking for alternative means of earning, coupled with the social distance stuff, work from home, loss of jobs, crypto seem to be the perfect alternatives that fit into all this issues, what more you need than a device and internet and you are in, no rigorous procedure is required before joining, so am not at all surprise about this growth, the numbers will keep increasing.
Pandemic accelerates the rate of adoption because it exposes how vulnerable we are when it comes to moving wealth from one place to another and this includes cash which you can't bring more than what is allowed. But with Bitcoin, all you need is just your private key or seed phrase in your mind and you can cross the Pacific to the Atlantic without getting your wealth confiscated.
Probably less than 10% of the businesses around the world have adopted crypto so there is more to come that will make the price of BTC way higher.
And i assume the pandemic plays a role in this numbers to go much higher this year than previous, no doubt many people are looking for alternative means of earning, coupled with the social distance stuff, work from home, loss of jobs, crypto seem to be the perfect alternatives that fit into all this issues, what more you need than a device and internet and you are in, no rigorous procedure is required before joining, so am not at all surprise about this growth, the numbers will keep increasing.
The number of crypto users around the world has also increased dramatically and exceeded 200 000 000 users
This is a good news, we need more of these because the more people that get into bitcoin the higher the price will be and the easier it will get to actually be involved with crypto because laws will be allowing us to participate a lot easier when it is this easy to do that. However it may take a decade or two to make it as valid as any other foreign currency in many nations.Like let's say you go to vacation at Ukraine, or Germany, or Italy, or Pakistan, or Nigeria basically almost everywhere around the world except maybe Russia or china (never been there so correct me if I am wrong) and you could live with dollars, the worst case you can cash that into local currency very easily as well. For bitcoin to be like that we may need another decade, it is getting there right now and if you really want to you can do that but it is not as easy as cashing dollars to local currency, that is way too easy.
Venezuela occupies position 7. I am Venezuelan and I do not understand how my country has not shown a little progress. The answer is likely to be how oil production in Venezuela has been in decline due to sanctions, lack of budget for refineries to operate at their magnitude and despite having the largest oil reserve in the world 303,806.0.
Venezuelans need a bit of initiative, they should also be educated to include bitcoin and cryptocurrencies in their economies, but the government has failed there.
Venezuelans need a bit of initiative, they should also be educated to include bitcoin and cryptocurrencies in their economies, but the government has failed there.
This is a nice development and in my opinion only the beginning. I have an RSS feed with crypto news from over 30 sources, most of which I read daily. What is striking is the amount of news lately about more and more companies and financial institutions planning or working on implementing crypto. I think the real push of adaptation will come in the next two years.
^ Many of them probably waiting with results of early companies and other financial institutions that adopted BTC. And now they saw that there is a progress of adopting BTC and some of them already earned upon holding, why not also if they try to risk their money, businessmen are always known how to ride a risk just to get higher profit and this is now, we have shown an adoption growth and thanks for the data the shown above, it reminds us that invest and holding is a better way to gain profit since we have a lot of improvement when it comes to top the BTC addption. 
Adoption is actually the only fuel for natural growth so it's a great sign that the adoption has gone up so much. I have been a huge critic of Elon Musk for all the trolling he did with dogecoins but I do feel that he has contributed a lot towards this adoption. It might be intentional or not but it cannot be denied that he with his tweets has made crypto much more famous.
The real value of Bitcoin shall be calculated once the adoption curve has reached the maximum value or has become saturated and there's no substantial growth happening. Then the price of BTC can actually be considered as the true value.
The real value of Bitcoin shall be calculated once the adoption curve has reached the maximum value or has become saturated and there's no substantial growth happening. Then the price of BTC can actually be considered as the true value.
No matter which number you use, it's still a lot of number I mean 8x than the last time is definitely a big deal although there's still a lot to go before we can get into total global adoption. I am really happy that the Chinese ban on crypto didn't even make so much as a small dent to the rate of adoption, it's still increasing China.
maybe the term die one grows a thousand is a very appropriate thing to say now especially for bitcoin.speaking for china, they refuse because they want to advance and raise the prestige of their CDBC and that is their right but for sure with the data from this OP I think some will continue to grow both in adoption and legalization and this is certainly a very good thing.
as long as there are pros and cons about crypto of course it will make it even better because those who haven't adopted about crypto will do research and will become aware that this is very good.
These are actually pretty modest numbers, in India, I can vouch that every single person wants to invest their money in cryptos, they want to just throw their money in any coin they find, and if someone says that this shitcoin can make your money 10x, they will just blindly put all their life savings into that. Not only the young generation even the middle-aged people are realizing cryptocurrencies as an investment option, I have seen around 10 ICO projects which are undoubtedly nothing more than a scam in just the past one-week holding seminars in my city promoting their shitcoins, the only bad thing I see here is adoption isn't growing in terms of crypto as a currency which really is a matter of concern.
That can be a good breeding ground for scams, people just wanting to invest money into crypto is going to definitely make for some malicious minds to get in and try to con these dumb and innocent people who just wants their lives to become better. Might want to put an action and educate your fellow Indians that not every coin is worth investing for.
Well it seems the crypto winter is nowhere near! What excites me is that the increase in p2p trade. That's what is the need of the hour! Centralized exchanges can be closed anytime by the government but p2p trades are something, they might not be able to control. I am not surprised to see my country in top 3 because the exchanges are pushing really hard. I can see tv commercials from crypto exchanges during sports and high profile events! Those have yielded a good result it seems! Cheers to the mass adoption growth rate, the numbers are really amazing!
I’ve been doing P2P trading lately rather than relying on centralized exchanges. Yes so far it will increase because there are no doubts that our respective government might introduce tight regulations later on related to cryptocurrency and blockchain technology.
It’s great to see Philippines as one of the countries who have increased crypto adoption, especially when it comes to play-to-earn blockchain NFT games. Looking forward to the future, but as well as how our country would regulate this space.
Many people seeking for opportunity in this pandemic and when they discover NFT is one of the great source of income many got crazy to ride up the hype that's why we see a huge number of increase in quick instance and once NFT games will stay here for long time for sure many more will come since this NFT things will became the alternative of all of people since we can't deny that by here we can earn more than our regular jobs, and the potential to earn huge is what makes people like about the game.
Well it seems the crypto winter is nowhere near! What excites me is that the increase in p2p trade. That's what is the need of the hour! Centralized exchanges can be closed anytime by the government but p2p trades are something, they might not be able to control. I am not surprised to see my country in top 3 because the exchanges are pushing really hard. I can see tv commercials from crypto exchanges during sports and high profile events! Those have yielded a good result it seems! Cheers to the mass adoption growth rate, the numbers are really amazing!
I’ve been doing P2P trading lately rather than relying on centralized exchanges. Yes so far it will increase because there are no doubts that our respective government might introduce tight regulations later on related to cryptocurrency and blockchain technology.
It’s great to see Philippines as one of the countries who have increased crypto adoption, especially when it comes to play-to-earn blockchain NFT games. Looking forward to the future, but as well as how our country would regulate this space.
Judging from the image, it seems that the data about growth is not so straightforward. There was a spike somewhere around spring in transaction value (which seems to be one of the key factors of the ranking), but then it dropped well below what it was in July 2020. If it was a temporary spike due to Bitcoin reaching ATH, this progress can be rolled back and doesn't really signify major improvement of the adoption rate. As for 200 million users, it should be noted that estimates of this can be strikingly different. For instance, I've encountered 106 million users as of February 2021, and 300 million users as of June 2021, but these were made by different companies, so it's hard to compare them against one another. If the amount of users doubled or tripled in half a year, it's a great achievement, but I'm not sure that's the case.
This is a nice development and in my opinion only the beginning. I have an RSS feed with crypto news from over 30 sources, most of which I read daily. What is striking is the amount of news lately about more and more companies and financial institutions planning or working on implementing crypto. I think the real push of adaptation will come in the next two years.
These are actually pretty modest numbers, in India, I can vouch that every single person wants to invest their money in cryptos, they want to just throw their money in any coin they find, and if someone says that this shitcoin can make your money 10x, they will just blindly put all their life savings into that. Not only the young generation even the middle-aged people are realizing cryptocurrencies as an investment option, I have seen around 10 ICO projects which are undoubtedly nothing more than a scam in just the past one-week holding seminars in my city promoting their shitcoins, the only bad thing I see here is adoption isn't growing in terms of crypto as a currency which really is a matter of concern.
That can be a good breeding ground for scams, people just wanting to invest money into crypto is going to definitely make for some malicious minds to get in and try to con these dumb and innocent people who just wants their lives to become better. Might want to put an action and educate your fellow Indians that not every coin is worth investing for.
Thats just unbelievable and sarcastic to see the developing countries in the Top 5 list of Global Indexing where they are the top most contributors of crypto. I knew it, India would out-perform throughout the globe consider that peeps here are rich and has huge amount of black money to hide. Specially the politicians! The day won't be far when crypto whales would not be from USA or Europe but from the Indian Political background. Lolz. Believe me, India has seen billions of dollars back in days when they had to do change all the denominations so that money launderer would have been caught straight away.
This is a great article to study the crypto makers according to countries. It's big thing, even after crypto ban in the bill or at least null decisions on the Indian crypto, the country holds highest rank in crypto.
This is a great article to study the crypto makers according to countries. It's big thing, even after crypto ban in the bill or at least null decisions on the Indian crypto, the country holds highest rank in crypto.
A lot of people has certainly opened their eyes to crypto this recent year. The growing number of people exposed to some form of cryptocurrency is really good, especially if they are here to get educated and know a lot of facts on cryptos before deciding to spend any money on it.
In the Philippines, most people are introduced to cryptocurrencies thanks to the rise of NFT games. It encouraged them to learn more about cryptocurrencies, exchanges, and everything crypto related since P2E (play to earn) game models are on the rise. They see P2E NFT games as a gateway to a larger picture of the whole crypto scene, and that, IMO is aa pretty good start.
In the Philippines, most people are introduced to cryptocurrencies thanks to the rise of NFT games. It encouraged them to learn more about cryptocurrencies, exchanges, and everything crypto related since P2E (play to earn) game models are on the rise. They see P2E NFT games as a gateway to a larger picture of the whole crypto scene, and that, IMO is aa pretty good start.
What excites me is that the increase in p2p trade. That's what is the need of the hour! Centralized exchanges can be closed anytime by the government but p2p trades are something, they might not be able to control.
I believe that increase will continue as long as people are still ready to use and trade crypto, I say so cause of all the regulations and bans governments have been issuing of late, the Nigerian government's ban on banks accepting crypto transactions from exchanges is a very good example, they actually thought it would dissuade people from using crypto, but it was somewhat counterproductive as the interest in crypto amongst Nigerians heightened. Nigerians now comfortably trade crypto via p2p, increasing p2p trades; and that is the case in many countries with similar bans or hostilities, people would just avoid centralized exchanges/services and transact using p2p.If there is no improvement in global economics sooner rather than later and inflation still continues to plague diverse countries, then global crypto adoption may come at a time sooner than we actually expected it to.
These are actually pretty modest numbers, in India, I can vouch that every single person wants to invest their money in cryptos, they want to just throw their money in any coin they find, and if someone says that this shitcoin can make your money 10x, they will just blindly put all their life savings into that. Not only the young generation even the middle-aged people are realizing cryptocurrencies as an investment option, I have seen around 10 ICO projects which are undoubtedly nothing more than a scam in just the past one-week holding seminars in my city promoting their shitcoins, the only bad thing I see here is adoption isn't growing in terms of crypto as a currency which really is a matter of concern.
This is a good news for sure.
I do believe that after this news people can actually expect the government to make changes in the way their economy works, they might have to make more amends in the way the government perceives the crypto world. At the end of the day there are not many crypto friendly options available in the market.
Instead of fighting it they need to add renewable sources of energy for mining, which is simply being done in some countries and is a positive overall till now with the environment, economy and the people alike.
Seeing India on the top is honestly nice since in the past we did see a lot of negative news regarding cryptocurrencies and how they are perceived.
I do believe that after this news people can actually expect the government to make changes in the way their economy works, they might have to make more amends in the way the government perceives the crypto world. At the end of the day there are not many crypto friendly options available in the market.
Instead of fighting it they need to add renewable sources of energy for mining, which is simply being done in some countries and is a positive overall till now with the environment, economy and the people alike.
Seeing India on the top is honestly nice since in the past we did see a lot of negative news regarding cryptocurrencies and how they are perceived.
I think mining is not a problem for the government. It's just one of many excuses for banning bitcoin. Govt just doesn't want to legalize crypto without regulation. But they also can not stop the evolution of the blockchain and the crypto industry. I hope the Indian govt will understand the possibilities of this sector and make more amends about it. One of the largest countries in the world in population can give huge momentum in the whole industry.
No matter which number you use, it's still a lot of number I mean 8x than the last time is definitely a big deal although there's still a lot to go before we can get into total global adoption. I am really happy that the Chinese ban on crypto didn't even make so much as a small dent to the rate of adoption, it's still increasing China.
This is a good news for sure.
I do believe that after this news people can actually expect the government to make changes in the way their economy works, they might have to make more amends in the way the government perceives the crypto world. At the end of the day there are not many crypto friendly options available in the market.
Instead of fighting it they need to add renewable sources of energy for mining, which is simply being done in some countries and is a positive overall till now with the environment, economy and the people alike.
Seeing India on the top is honestly nice since in the past we did see a lot of negative news regarding cryptocurrencies and how they are perceived.
I do believe that after this news people can actually expect the government to make changes in the way their economy works, they might have to make more amends in the way the government perceives the crypto world. At the end of the day there are not many crypto friendly options available in the market.
Instead of fighting it they need to add renewable sources of energy for mining, which is simply being done in some countries and is a positive overall till now with the environment, economy and the people alike.
Seeing India on the top is honestly nice since in the past we did see a lot of negative news regarding cryptocurrencies and how they are perceived.
Well it seems the crypto winter is nowhere near! What excites me is that the increase in p2p trade. That's what is the need of the hour! Centralized exchanges can be closed anytime by the government but p2p trades are something, they might not be able to control. I am not surprised to see my country in top 3 because the exchanges are pushing really hard. I can see tv commercials from crypto exchanges during sports and high profile events! Those have yielded a good result it seems! Cheers to the mass adoption growth rate, the numbers are really amazing!
Well, I didn't expect that my country's place in the top1 rank is so high, compared to other countries countries like Venezuela, Kenya, Nigeria, Vietnam participating in cryptocurrency are quite crowded and it seems that the popularity The strongest change and response is in a developing country like Vietnam, where did you get this statistics?.
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