Introduction
Cryptocurrency has now become the prime mode of transaction in many countries. Some of the countries are still very conservative in adopting Cryptocurrency in their country. The positive side here is there are some countries present in the world that are leading in adopting Cryptocurrency in their nation.
Even you may not be aware of the fact that Cryptocurrencies are adopted by many third world countries. Therefore, if you want to know the adoption rate of Cryptocurrencies all over the world, then you must get into the details to get a better understanding of this fact.
Countries That Are Leading In Cryptocurrency Adoption In Their Nation
Many countries are leading the adoption of Cryptocurrency in their nation. You need to get through the details to understand it in a better way.
1. Turkey
Today, Turkey is considered as the home for the cryptocurrency regulatory country in the world. Currently, 20% of the adoption of Cryptocurrency is from Turkey. You may feel surprised to hear it, but it is a fact.
The main reason for the high adoption of Cryptocurrency in Turkey is the less trust factor on government and banks. Turkey’s rulers are not in a good relationship with the US government, so the cryptocurrency adoption rate is high.
2. Brazil
You will be surprised to know that Brazil is in the second position to adopt the Cryptocurrency faster rate after Turkey. Currently, Brazil accounts for about 18% of the adoption of Cryptocurrency in their country.
Brazil is suffering from corrupt governments’ problems, and there is a battle among the banks. The surprising fact is it has recorded a trade margin of 100000 Bitcoins in their country within 24 hours. These statistics reflect the popularity of Cryptocurrency in their country and its adoption rate.
3. Columbia
The second spot for the adoption of Cryptocurrency is tied between Brazil & Columbia. In this country also the adoption rate of Cryptocurrency is 18%. Many Venezuelan refugees live in this country. The government of this country is Bitcoin-friendly in nature.
Many people in this country use Bitcoin as a means for their wealth preservation in their country. This country is currently facing high inflation, and the Bitcoin adoption is acting as a protective shield to them.
Many people are using this Cryptocurrency to shield their inflation rate in their nation. Sometimes, to run businesses, Bitcoin is used extensively in their country.
4. Argentina
To preserve wealth, many Argentine citizens like to use Cryptocurrencies as their primary mode of transaction. It holds the third position in the economy of the world for adopting Cryptocurrencies in their nation.
Currently, the adoption rate of Cryptocurrency in Argentina is 16%. Bitcoin is a very popular Cryptocurrency used in this country all across the nation world wide. It helps to develop the economy of the country to a great extent.
It makes Cryptocurrency very popular all across the nation. If you are a citizen of Argentina, you can understand the importance of using Cryptocurrency in their country.
5. South Africa
South Africa is among the third countries that have adopted Cryptocurrency in their nation. The current adoption rate is 16% in their country. Most of the people have adopted Cryptocurrencies in South Africa to pay off the remittances in their country.
Despite many regulations in their country Cryptocurrency is adopted in their nation rapidly over a few years. Cryptocurrency popularity is growing at a rapid rate in South Africa. If you are a citizen of South Africa, then you will understand the requirement of Cryptocurrency. You need to make use of these opportunities if you are a South African citizen.
Conclusion
Many countries of the world have adopted Cryptocurrencies in their nation apart from these five nations. Many countries worldwide are now adopting Cryptocurrencies to make transactions smoother and more straightforward in their country. If you want to gather more information regarding this matter, you can use bitcoin cycle to get a better insight into it.
