First, you need to check this:
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
As you can see, out of the top 6 economies only one can be classified as developing (China). All the others are developed countries (USA, EU, Japan.etc). So it is only natural that most of the Bitcoin users come from these countries. Only those who have money to spend will be able to invest in Bitcoin and the other crypto-currencies. Another factor is the legality. Bitcoin is illegal or having unclear legal status in the vast majority of the third world nations including India and China. This also plays its part in limiting the number of users from these nations.
Topic: Why most bitcoin users from good economies countries? - page 3. (Read 35267 times)
Bitcoin is a good investment that makes sense , to have good exchange rate from good economy countries. Many people would like to invest about bitcoin especially in asian countries because they can earn more by converting it to there own currency. USA and Canada, are top good economy countries thats why there currency is much more high value compare in asian currency ,having huge number of bitcoin ATM. Bitcoin gives economic growth to each people wants an income in the society and each country as well.
I think they easy to invest because they have a lot of wealthy people that afford too much to invest in bitcoin, and that true that in their country was a value is good most especially in US. Almost people there are already invested, so they on the top on the list. They easy to understand and mostly most people are interested due to their high knowledge when it comes to technology.It's not all about investments that they used their money for trading. The most reason of that is, these rich people in a certain rising economy have a wise decisions on their money and not even thinking of spending it on other non sense things. The problem of other below average economic countries, their people always spend money on what they want. Caring for what they need was just a regular options, that's why their economy didn't grow because they're lack of saving for an investments. Knowledge is their best asset and not the way of using money just for undesirable things, and it remained the best practices until now.
Bitcoin is a good investment that makes sense , to have good exchange rate from good economy countries. Many people would like to invest about bitcoin especially in asian countries because they can earn more by converting it to there own currency. USA and Canada, are top good economy countries thats why there currency is much more high value compare in asian currency ,having huge number of bitcoin ATM. Bitcoin gives economic growth to each people wants an income in the society and each country as well.
I think they easy to invest because they have a lot of wealthy people that afford too much to invest in bitcoin, and that true that in their country was a value is good most especially in US. Almost people there are already invested, so they on the top on the list. They easy to understand and mostly most people are interested due to their high knowledge when it comes to technology. We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.
https://i.imgur.com/pgqaTer.jpg
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.
https://i.imgur.com/pgqaTer.jpg
Japan is in the last place of stats? That's strange I thought Japan will be in the upper position as it's crypto-friendly country
I think one of the reason is if someone does the crypto transaction, there are no taxes and the transaction was very clear. There are no Intermediate customers. Thinks!
I agree, US tax rate is very high compared to other developed countries and using a crypto can be a way to avoid tax. But this reason eventually not relevant anymore as the regulation will make everyone pay tax. Other reason can be because the convenience for crypto adoption as start-up can operate widely on those countries.
i think because the technology and the use of internet where more easly developed in those countries when bitcoin was born. They were able to have acces to bitcoin in his lower price. In my case the first time i heard about bitcoin was in 2014 im from nciaragua, It was a luxury to have internet access and more time to spend it discovering the technology being developed... we were fascinated by hi5 or facebook
Mostly the people who are in this situation will always been thinking about how to become a rich person with their stability in the future so they are investing their Savings and income in cryptocurrency and it will be very helpful for them you make their economy more powerful in the future.
I think one of the reason is if someone does the crypto transaction, there are no taxes and the transaction was very clear. There are no Intermediate customers. Thinks!
Everything that you mentioned here, refers to all investors, and it does not matter which country they are from. The guys from developed countries have more money to invest in crypto.
In developed countries, the investment for crypto is more not only because of money but also because of the infrastructure or the facilities to trade and utilize the coins.
Even though being a developed country or a semi-developed country, there are few countries not able to invest due to country restrictions and old thoughts about how currency works. I think it is not about the countries with good economies, but also various factor makes to help a decision upon purchasing or trading cryptocurrencies.
I think one of the reason is if someone does the crypto transaction, there are no taxes and the transaction was very clear. There are no Intermediate customers. Thinks!
Everything that you mentioned here, refers to all investors, and it does not matter which country they are from. The guys from developed countries have more money to invest in crypto.
Germany comes just after the U.S when it comes to the Darknet illegal drugs listings where bitcoin is being used so why not ATMs? It's because of the regulations.
Agree regarding Germany. The graphic says nothing. It is not listed, but regarding Bitcoin adopation and usage it certainly belongs to the top 5 countries worldwide. The reason why Austria is listed there but not Germany, is pretty simple.The regulation for Bitcoin ATMs in Austria is much weaker than in Germany, so in Austria you can buy Bitcoin at any post office while in Germany there may only be one or two dozen Bitcoin ATMs throughout the country.
I think one of the reason is if someone does the crypto transaction, there are no taxes and the transaction was very clear. There are no Intermediate customers. Thinks!
Well use of crypto currency is not affected by the transaction fees ever, in well developed and high economical state countries are using crypto is because they have that internet connection and they have more facilities, they have more ideas to use and to promote crypto currency in their country, so this is the only reason for bitcoin high growth in well developed countries the most.
I think this is related also to a cultural concept.
E.g. ONEcoin Scam was really hyped by people from poor country.
How can some one spend a lot of time, effort and resources, without receive a sure profit?
it's really hard, even if you don't have enough resources and lack of economic education.
Otherwise Onecoin was advertised as "be rich" scheme and we all know what is the results of these type of project
E.g. ONEcoin Scam was really hyped by people from poor country.
How can some one spend a lot of time, effort and resources, without receive a sure profit?
it's really hard, even if you don't have enough resources and lack of economic education.
Otherwise Onecoin was advertised as "be rich" scheme and we all know what is the results of these type of project
Poor country does not mean that the people living there are out of their mind. They should use their mind and should the difference between real crypto coins and the scam coins like OneCoin etc. I have seen people claim onecoin to the next bitcoin. How can anyone compare bitcoin and onecoin.
Its just show that people are fooled because they are always attracted towards become quick rich schemes and then cry afterwards.
I think this is related also to a cultural concept.
E.g. ONEcoin Scam was really hyped by people from poor country.
How can some one spend a lot of time, effort and resources, without receive a sure profit?
it's really hard, even if you don't have enough resources and lack of economic education.
Otherwise Onecoin was advertised as "be rich" scheme and we all know what is the results of these type of project
E.g. ONEcoin Scam was really hyped by people from poor country.
How can some one spend a lot of time, effort and resources, without receive a sure profit?
it's really hard, even if you don't have enough resources and lack of economic education.
Otherwise Onecoin was advertised as "be rich" scheme and we all know what is the results of these type of project
Because investment in bitcoin is stigmatized by people is big capital and the average economic progress in the country is good in the community and also an understanding of investment has also been known by many. different from a country that is still not so advanced or developing it will be a little difficult in terms of explanation.
I don’t think that the number of ATMs in a particular country is an indicator, there are countries in which there are almost no Bitcoin ATMs, however they have a large number of Binkoins in the hands of the population.
the population in the majority of poor countries will think more about finding money to just eat, very rarely do they think of investing because of the limited capital they have.
Yes maybe this is the reason but mate now price is not very high so poor people can also adopt it and invest it this is the beauty of bitcoin that it gives equally chance to high society people to buy and low society people to buy at red, so I am not agree, meanwhile I can say that lack of internet access could be the reason behind it. 
Because Bitcoin is advanced technology and countries with good development are very suitable for him. I’m generally surprised that there are so many crypto users in the US. Although the government is so strictly in cryptocurrency.
People there have "free" money to invest it in the cryptocurrency. Even if they cryptos dump, they will not lose much as they do not spend for BTC and alts everything they have like guys in other countries.
internet infrastructure help them alot for accesing in cryptocurrency.they have more resources if compared with developed countries.and also their knowledge on step a head.
Infrastructure is indeed key. For example there is quite a bit of crypto adoption in Kenya - but that's because they have a good mobile phone network and coverage, and the Mpesa wallet system that allow storage of crypto as well as tradable mobile phone credits. Whereas in sub-suharan africa, there is very low internet coverage, very poor mobile phone coverage, and they simply don't use electronic means of payment at all, it's all cash.
Why most bitcoin users from good economies countries?
We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.
We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.
They are educated. Also more are online. And they have easier access to Bitcoin.
But Bitcoin ATMs are not measure of Bitcoin adoption. There are some countries with a lot of Bitcoin users and have zero Bitcoin ATMs. Regulations there just had not kicked in.
Not all, because I can say that our economic rate now is very low and have a crisis in many things but still use bitcoin. Bitcoin is already part of our life and some of the company are already adapted to the use of bitcoin in my country. If that's the case, our economic rate was good at different factor?
Agree but the question was about "users" not investors so I think even poor countries can have access and use bitcoin as payment. We always use bitcoin because we get it from bounties and trading but our country is still not good at handling the economy.
the population in the majority of poor countries will think more about finding money to just eat, very rarely do they think of investing because of the limited capital they have.
Agree but the question was about "users" not investors so I think even poor countries can have access and use bitcoin as payment. We always use bitcoin because we get it from bounties and trading but our country is still not good at handling the economy.
Jump to: