The saga of Ethereum and Bitcoin is constantly evolving, but no matter how fluctuating the Cryptocurrency market is, it is not limited to a shady internet corner anymore.
In fact, the global Cryptocurrency market had reached its peak in 2021, when it had a market capitalization of $2.22 trillion. Even with all these developments, just a tiny fraction of Americans have practical and personal experience with it.
Only a few people in the world who are industrialists, rich, and powerful have dared to invest in Cryptocurrencies. However, it’s catching on much more quickly now as so many people are opening accounts on Bitcoin profit and taking help from the experts to learn to invest in it.
Keep scrolling down, and you will find the best countries that use Cryptocurrency for investment and growth.
Top 5 Countries That Use Cryptocurrencies
In addition to South East Asia and Africa, many Latin American countries are also using Cryptocurrencies for growth and investment. Let’s find out more about them:
Nigeria owns 32% of the world’s Crypto market. It means 1 in every 3 people use Crypto coins for transactions. Nigeria has a unique culture that pushes people to use Crypto coins as modes of digital exchange.
Almost 87 million people in Nigeria are poor, and the cheaper Crypto transactions make it easy for these people to access their necessary commodities. This is why Nigeria uses Crypto coins as an investment medium.
Vietnam holds 21% of the global Crypto market. Recently, 41% of its citizens have bought Bitcoins and have liked using them. Even though it is the 53rd largest economy globally, its Crypto market share will soon turn the country into the top 20.
Bitcoin is the most popular Crypto coin in Vietnam, but some people are also interested in buying Dogecoins. The average daily transaction volume of Bitcoin exceeds thousands of dollars, indicating its prevalence.
The Philippines holds 20% of the global Crypto market share. It comes 3rd on the rank, which means you can imagine how popular Cryptocurrencies are in this country. It is one of the first Asian countries to adopt Crypto coins as a traditional financial transaction medium.
The Central Bank of the Philippines regulates Crypto transactions and their taxation charges. Although the Central Bank does not issue or verify the currency, they are responsible for its credible exchange.
Next on the list comes Turkey. This nation is responsible for holding 16% of the Crypto market share. In addition, almost 5 million Turks have used Turkish Ira to purchase Crypto coins in 2021, while the figure was only 1.5 million in 2020.
It means you can guess how popular Crypto coins are in Turkey. Even the average daily trading volume also surpassed the benchmark of $20 million to $500 million by the end of 2021.
Peru is also the possessor of a 16% Crypto market share. In addition, the nation has recently created a public registry to keep track of the daily Crypto transactions, which was previously only available on the digital public ledger.
It is the first attempt of the country to regulate the Crypto transaction volume. This regulation also dictates many rules on the use of Crypto assets, proving how serious the country is in making Crypto a valid currency for transactions.
Switzerland is the 11% shareholder of the Crypto market share, which means this European country is finally getting on track with this market hype. Not only them, but even the U.S. is also the possessor of 6% of its market share.
China is not lagging behind in this race either. This Asian country holds a 7% Crypto market share, while Japan is responsible for managing 4% of its market share. We also have Germany on the list, responsible for 5% of the Crypto market share.
Hence, the average Crypto ownership in all these countries is 3.9%. Furthermore, even more, than 18000 businesses have also decided to invest in Cryptocurrency worldwide.
Putting It All Together
Are you feeling lucky, or are you thinking of relocating to a different country?
We bet you must feel a bit lucky if you reside in any of these countries. But, at the same time, you may feel disappointed because your country’s name is not on this list.
Whatever the case is, if you need more details on them, ping us in the comment box below. We will get back to you soon.
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