Topic: 2.4% People from Bangladesh Hold Cryptocurrency - page 3. (Read 407 times)
Nice move by Bangladeshi. Bitcoin is having wave in the world. Bitcoin never force any country and individuals to adopt it but they on their own adopt it because whenever one see the potential and the value of the asset. Those countries which ban bitcoin directly or indirectly are the ones using bitcoin even the more by the their citizens. So is there any way to ban or stop the citizens that are interested to use the asset (bitcoin) again. Let the world just approved bitcoin as legal tender asset for all. So that those countries that interested to switch bitcoin can do it without wasting time. One thing in the bitcoin adoption is not only the approval of the asset for everyone to use but the government policies that will also favour the people who are using the asset. Because there are some government that will see the value of bitcoin for individual and start to do their wicked act of creating obnoxious laws and policies to suffer the citizens that using the asset. I wish Bangladeshi government to create a bitcoin and other Cryptocurrencies friendly environment for the citizens.
The central bank of Bangladesh had indeed banned cryptocurrency couple of years back. They have also made some arrest back in those days to spread fear. But the statistics here is encouraging. Despite ban and arrests, if 2.4% of the entire population is holding bitcoin, then it's definitely going the right way for the future. The adoption should increase over time and since a lot of Bangladeshi people leave in foreign countries, it won't be a huge amount of challenge to convert them into fiat.
legendary
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Marketing Campaign Manager |Telegram ID- @LT_Mouse
I remember reading a few news related to Bangladesh & Cryptocurrency. This might be somewhere around 2014 or 2015 when holding crypto was illegal. I have no clue whether this law is still active.
Back in 2014, when Bitcoin Foundation Bangladesh was founded and Sazeeb was named the President, with some other members, people discussed Bitcoin a lot. Back then, Bangladesh Bank declared using crypto as illegal, and still, they are in the same boat though they are not taking any steps either against cryptocurrency users. There was some update in 2017 and recently but that did change anything from the first statement.Could the nations local currency (Bangladeshi Taka) which is weak against the top international currencies like dollar, pounds and Euro be the reason for the increase. With cryptocurrency most especially bitcoin it is easier to transact with cross boarder countries.
I would say yes, that's one of the reasons of course because people are more concerned about the inflation happening these days. Everything is getting expensive each day and I doubt govt can control it. That's why people are looking for alternatives. As investing in Gold isn't that easy because of investment size, storing etc, people are more interested in cryptocurrency investment.While India has been into crypto and declared 30% flat tax on it many individuals have stopped using crypto yet the number of people using it remains significant.
I hope the tax rate decreases which will further boost the use of crypto in India.
That was a stupid decision, to be honest. I don't see why govt is discouraging cryptocurrency investment and encouraging illegal cryptocurrency investment to avoid taxes. I'm sure many people are secretly doing this.I hope the tax rate decreases which will further boost the use of crypto in India.
That was my surprise when I last time read this. This was a few months back when I read in one of the local newspapers where they mentioned around 4 million Bangladeshi people use Bitcoin and other cryptocurrencies. I didn't believe in that stats but today once again I found the same stats on another website namely Triple A, I have no idea about them. According to them, 2.4% of people are holding cryptocurrency in Bangladesh which I think is impressive. No matter whether most of them have invested just because they are greedy. Still, it's a piece of great news in my opinion. Bangladesh is one the countries where using Bitcoin is declared illegal by the government. But this number/stats say something we are going to get in the very near future. There was a discussion regarding cryptocurrency between some employees from Bangladesh Bank. They were hinting Bangladesh may legalize Crypto within 2/3 years. Maybe finally, it's happening.
Interesting news. I didn't know my neighboring country has acquired some bitcoins as well.
It's good to know that 2.4% of it's population are into crypto and I wish the number keeps increasing every year.
Bhutan has also been into crypto under the hood and is mining bitcoin [local board discussion]
While India has been into crypto and declared 30% flat tax on it many individuals have stopped using crypto yet the number of people using it remains significant.
I hope the tax rate decreases which will further boost the use of crypto in India.
This is good news for a country that see cryptocurrency to be evil and put a ban on it,has now realize the usefulness of cryptocurrency and now they have accepted it but chose to regulate cryptocurrency. The fact of that government cannot shut bitcoin down even though they try by placing a ban or it,bitcoin adoption we still keep on increasing in that country that it is illegal. Isn't this ridiculous ?
Bangladesh government has taken to bold step to accept cryptocurrency and this should be an example to those countries who have placed ban on crypto to learn from them because it is the government of the country that is missing out,because its citizens will be using cryptocurrency behind them. I see that with time those government that placed a ban on crypto will remove the ban when they realize the benefits of cryptocurrency to individual and the government.
Bangladesh government has taken to bold step to accept cryptocurrency and this should be an example to those countries who have placed ban on crypto to learn from them because it is the government of the country that is missing out,because its citizens will be using cryptocurrency behind them. I see that with time those government that placed a ban on crypto will remove the ban when they realize the benefits of cryptocurrency to individual and the government.
Well this could be very possible because I often noticed that whenever a country ban her citizens from trading and involving their self with cryptocurrency that is when the numbers of their usage will increased uncontrollably, typical example of what I am saying is Nigerians, since from the announcement about cryptocurrency restrictions that's how the numbers of bitcoin and cryptocurrency traders increases exponentially. I don't doubts same thing might happen to bangladesh or to any other country's that tends to ban or restricts cryptocurrency activities within them. Sincerely speaking this is encouraging showing how the max adoption is gradually taking over.
That was my surprise when I last time read this. This was a few months back when I read in one of the local newspapers where they mentioned around 4 million Bangladeshi people use Bitcoin and other cryptocurrencies. I didn't believe in that stats but today once again I found the same stats on another website namely Triple A, I have no idea about them. According to them, 2.4% of people are holding cryptocurrency in Bangladesh which I think is impressive.
The more bitcoin awareness increases the more the adoption and it's acceptability, people are now getting confidence in bitcoin unlike before when they thought it would cease from existing, the fear is getting diminished each day and people are getting more exposed about bitcoin, in this case, this is not only felt as a massive adoption in Bangladesh but in many countries and parts of the world, bitcoin adoption is fast growing each day.
No matter whether most of them have invested just because they are greedy. Still, it's a piece of great news in my opinion.
The more to goodnews coming ahead this time which is more anticipated for is in seing which country will be next on adoption of bitcoin as a legal tender after El-Savador and Central African Republic, maybe the unexpected may come in through Bangladesh this time around if it's leaders have much interest in bitcoin as the people have shown.
This is certainly a great number considering that the country isn’t that friendly to cryptocurrency. The news article says the country is looking at regulating cryptocurrency, this has been the case of most third world nations. The ban the use of cryptocurrency and then its citizens grow increasingly in it usage, they come up with CBDC idea and again starts to regulate the whole thing.
One thing I see that could have impacted this adoption is the fact that 62% of the nations population are aged between 15-64 and this is the age group that are mostly internet users. Could the nations local currency (Bangladeshi Taka) which is weak against the top international currencies like dollar, pounds and Euro be the reason for the increase. With cryptocurrency most especially bitcoin it is easier to transact with cross boarder countries.
One thing I see that could have impacted this adoption is the fact that 62% of the nations population are aged between 15-64 and this is the age group that are mostly internet users. Could the nations local currency (Bangladeshi Taka) which is weak against the top international currencies like dollar, pounds and Euro be the reason for the increase. With cryptocurrency most especially bitcoin it is easier to transact with cross boarder countries.
I remember reading a few news related to Bangladesh & Cryptocurrency. This might be somewhere around 2014 or 2015 when holding crypto was illegal. I have no clue whether this law is still active. If it is then the percentage of people who are into crypto is impressive. As an individual from your neighboring country, I can imagine how tough it is to deal with this business.
The governments in the Indian subcontinent do not have any clue about crypto. Likewise, every government in a third world country believes that its citizens are a slave to their terms of governing. To an extent, it is true as we have been colonies of the UK or Europe. That mentality is so strong that it is not so easy for anyone to leap into the idea of financial freedom with Bitcoin.
I am happy that things are changing for good. I hope it continues to go into the path of decentralization and the leader leading it should be Bitcoin.
The governments in the Indian subcontinent do not have any clue about crypto. Likewise, every government in a third world country believes that its citizens are a slave to their terms of governing. To an extent, it is true as we have been colonies of the UK or Europe. That mentality is so strong that it is not so easy for anyone to leap into the idea of financial freedom with Bitcoin.
I am happy that things are changing for good. I hope it continues to go into the path of decentralization and the leader leading it should be Bitcoin.
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
That was my surprise when I last time read this. This was a few months back when I read in one of the local newspapers where they mentioned around 4 million Bangladeshi people use Bitcoin and other cryptocurrencies. I didn't believe in that stats but today once again I found the same stats on another website namely Triple A, I have no idea about them. According to them, 2.4% of people are holding cryptocurrency in Bangladesh which I think is impressive. No matter whether most of them have invested just because they are greedy. Still, it's a piece of great news in my opinion. Bangladesh is one the countries where using Bitcoin is declared illegal by the government. But this number/stats say something we are going to get in the very near future. There was a discussion regarding cryptocurrency between some employees from Bangladesh Bank. They were hinting Bangladesh may legalize Crypto within 2/3 years. Maybe finally, it's happening.
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