Cryptocurrency

How Are Cryptocurrencies Accepted Around the World?

It was one of the most historic days for the world when Satoshi Nakamoto announced the first cryptocurrency Bitcoin way back in January 2009. Since then, there have been hundreds of cryptocurrencies introduced, and the crypto phenomenon has become a part of the mainstream financial debates all over the world. However, it would be interesting to see how much cryptocurrencies are actually being used.

Blockchain Daily conducted a country-wise data about the percentage of people using crypto and has released an infographic of the results on Twitter. The results are quite surprising, with some unexpected names at the top and bottom. That said, the survey takes only the top 18 countries, and hence many big names, like India and Switzerland, don’t feature in the list, as crypto usage is extremely low in these countries.

As per the survey, Turkey tops the list with about 20% of people in the Middle Eastern powerhouse using crypto, which is quite astonishing. Turkey has had quite strict policies for crypto usage and hasn’t been in the news for digital currencies as much as others.

The next three spots are a total South American affair, with Brazil (18%), Columbia (18%), and Argentina (16%) taking the second third and fourth spot. South Africa is the last among the top five, with 16% usage. However, what’s even more surprising is the fact that crypto usage in countries where companies spend the most on marketing is the lowest. Australia has 7% crypto usage, the UK has 6%, the US has 5%, while France and Germany have 4% crypto usage. Japan comes in at the lowest, with 3% usage. These are the six countries occupying the lowest spots.

The survey clearly indicates that the adoption of crypto is more in emerging markets. Therefore, the focus of crypto companies must be more in the emerging markets, as the scope of growth in regions like South America, the Middle East, South, and East Asia, etc. is far more than it is in Europe and North America.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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