Cryptocurrencies are not something which can be ignored at an official level anymore. El Salvador is the pioneer, accepting Bitcoin as a legal tender, and a set of countries are currently observing this experiment. Latin American and African countries have realised that digital assets are a path towards financial freedom.
The world is standing on the threshold of massive changes, and crypto-friendly countries understand that digital assets have numerous pros over traditional fiat assets. New all-time highs show that cryptocurrencies are the perfect instruments that resist inflation and save the value of money.
Which countries are the most progressive in terms of the level of crypto adoption?
The number of crypto holders is massively on the rise
In the 2010s the idea of digital currencies seemed crazy for most people, and holders numbered several thousand. Over the years, digital assets proved to be convenient and valuable and have transformed into a whole ecosystem.
Regarding the ‘customer base,’ more than 300 million Earth inhabitants now hold digital assets, and the number keeps rising. Which countries lead the ranking of crypto adoption?
According to the Financial Express, the global crypto adoption system skyrocketed by 2300% in Q2 2021 (compared with Q2 2019). India heads the ranking of countries with the largest number of crypto holders: more than 100 million Indian people store digital assets. The top-5 also includes:
- United States (27 million);
- Russian Federation (17 million);
- Nigeria (13 million);
- Brazil (10 million).
In terms of crypto users, the ranking of the most crypto-buying countries is led by Nigeria (32%). The top-5 ranking includes
- Vietnam (21%);
- Philippines (20%);
- Turkey (16%);
- Peru (16%).
Meanwhile, thousands of beginners continue to join the trend daily and is why the given numbers may rapidly change.
Ways to spend digital currencies
People use digital currencies for two purposes: either as long-term investments or payment options.
Crypto payments are continuing to become more popular worldwide. With a set of advantages over traditional payments, digital currencies have been “recruited” by some “big guns” like AMC, Tesla, Xiaomi, etc. Tens of the world’s largest corporations are close to starting the acceptance of digital currencies.
The USA leads the ranking of crypto-adopting countries when we analyze digital assets as a payment option. The United States hosts 87% of all crypto ATM machines installed throughout the world providing beginners with an easy entry to the crypto world. Canada (2054 ATMs) and El Salvador (205 machines) are close behind.
As for the number of crypto-accepting businesses, the USA also leads the ranking. More than 17 000 businesses that accept crypto payments are located in the United States – more than 40% of small and medium retailers offer goods and services in exchange for digital assets.
A snowball of cryptocurrencies
The USA, Australia, Singapore, and Great Britain are considered the most crypto progressive countries as their governments have a clear legislature to control and develop the sector. As for the other jurisdictions, they clearly understand (with the exception of some countries) the huge opportunities brought by digital assets. The capitalization of the market sets one record after another.
It’s high time to turn to the progressive side and for old-fashioned businesses to advance. B2BinPay unlocks brand-new opportunities for companies who want to join the trend. No matter what jurisdiction you represent, the high-class payment gateway may process your crypto payments with just a 0.5% fee.
The progress is a multi-page book, and when the world turns a page over, the previous content loses its sense. Be careful! Don’t waste your chance to join the ranks of crypto pioneers!