The ever-rising use of cryptocurrency all around the world is definitely one of the most unexpected things we’re experiencing today. From serving as a mere source of day-day transactions to today being traded at an extremely high level, this digital currency is driving the whole world crazy today.
The strong wave of cryptocurrency has touched almost every country today. In which, some wholeheartedly accept it and make whopping profits. While many consider it a scam and neglect the use of cryptocurrency in their country. Initially, very few people could hardly comprehend the working of cryptocurrency. Over time, a huge population of financially smart people realized the value and potential this powerful digital currency holds for the world.
In 2008, the first-ever cryptocurrency – Satoshi Nakomoto launched the white paper of bitcoin that included very few of the necessary details about this cryptocurrency. Soon, many other cryptocurrencies including Ripple, Ethereum, Tether, Monera followed the whopping progress of Bitcoin.
Among more than 4000 cryptocurrencies present today, the whole world is captivated by the perks of trading cryptocurrency with bitqh and how it has helped countless people progress financially. With that said, here is a list of the dramatic impact of cryptocurrency on the whole world and few predictions about what next it has to offer to the world.
Around half of the countries in this continent are drastically using cryptocurrency and earning more than they ever had. From Botswana, South Africa, Nigeria, Zimbabwe to all other smaller parts of Africa, 33% of Nigerians acquired cryptocurrency when they were in their worst financial states. The country has always been in pursuit of cheaper solutions to carry out their financial matter without paying expensive bank and monetary costs.
As per the recent survey by Statista, there has been a huge spike in the use of cryptocurrency in Africa and a high valuation of Africa’s economy. Not only to fight poverty but the successful trading of cryptocurrency in the country has also been a great help in dealing with hyper-inflation without causing trouble for the locals.
As a matter of fact, China has the highest 65% percentage of cryptocurrency mining globally. The increasing use of cryptocurrency in China has been a true inspiration for numerous neighboring countries like Pakistan and India. From having the highest number of digital wallets present to having a crypto trade of $50 million annually, China has undeniably made its remarkable name in the crypto world.
However, numerous bitcoin enthusiasts also claim China’s increasing economy to be a reason for the high-rise in Bitcoin prices globally. Yet, the recent surveys by Investopedia further enlighten the importance and recent updates about cryptocurrency of cryptocurrency and recent updates in the country. On account of high-crypto use in the country- the People’s Bank of China (PBOC’s) have finally issued a notice of crypto ban in the country.
Being a highly-developed state, the USA is marked to have the second and highest rates of cryptocurrency mining, trading, and use globally. In the light of a recent survey, 11% of the total population in the USA owns Bitcoin that makes it equal to 30 million bitcoin present today alone in the USA worldwide.
Americans are already far forward in the race of digital growth and the significant use of Bitcoin and other cryptocurrencies have proved much beneficial for the tech-savvy adults in the country. Surprisingly, they have smartly understood the working of cryptocurrency and smart tips to consistently trade it for producing amazing profits. However, there has been an unexpected yet illegal use of cryptocurrency is recently observed in the country.
Being a volatile cryptocurrency, we cannot bet on any statement about what cryptocurrency holds for the world. But, what we know for sure is that this digital currency is not going anywhere soon. Not only Nigeria, Vietnam, Philippines, Turkey, China, USA, and Japan, but cryptocurrency is also predicted to enter the underlying financially struggling countries of the world.