Cryptocurrencies have shown some fair amount of growth in the last few years. The growth has been in all forms, not only the fact that cryptocurrency has been used majorly, but also the fact that it has been accepted very positively by people all over the world. Countries all over the world have recognized the importance and the use of bitcoin majorly.
Many countries could not believe that cryptocurrency was a legal financial tool, somehow, they still tend to believe that it is very wrong to use bitcoins and cryptocurrencies. The idea about bitcoin has changed over a period of time, and now they are being able to use it regularly and have also instilled some amount of faith in them.
Cryptocurrency Users From Unexpected Places in the World If we talk about cryptocurrency then it points the finger towards the technology forward countries like Japan, South Korea, USA. But trust me the above mentioned are not the top 5 countries on the rise of cryptocurrency. You can know more at this link about Bitcoin Trader.
1. Turkey
If you notice carefully, you will be shocked to know, that the numbers that are coming from Turkey are really shocking. If you dig into the possible reasons then you will find that Turkey is highly capable of indulging in 20% of the cryptocurrencies in the world. Turkey has some major drawbacks like bank trusts and the trust in government is really low. The Turkey government do not have much good relation with the United States so the only way escape it
has is by using cryptocurrency.
2.Brazil
Just like Turkey, Brazil’s government also has a bitter relationship with the banks in Brazil. But thankfully the economy of Brazil is not falling apart right now whereas many others are. But it had suffered some highest inflation rate in the past few years. But having said all of this, we must also mention that Brazil records a trade of 100,000 bitcoin in 24 hours of duration. A record that counts down to 500 million dollars, which is like really high. Keeping
aside all other countries Brazil accounts for 15% of the world’s Cryptocurrency trading.
3. Colombia
Colombia and Brazil have been in the position of the tie, both of them hold around 18% of the cryptocurrencies of the world each. Colombia, shelters a million of Venezuelan refugees in its own country. Colombia is also using the bitcoin as a weapon of preservation of wealth like many other countries do. If incase their fiat currency is not enough to support them they will use the bitcoins. It is just their way out to shield and protect their economy majorly,
Colombia plans to use the bitcoins during the time of inflation.
But the use of bitcoins or cryptocurrency in Colombia is not just restricted to cover up the inflation times. It is also there to help people invest and use it in their own business.
4. Argentina
Cryptocurrency is no longer a magical term for Argentina as well. It also wants to preserve their wealth with respect to bitcoins. This has made the cryptocurrency ver famous all over the country. Argentina is also trying to make bitcoin regular in the country by all means. In fact, some of the public transport in Argentina does allow the use of bitcoins to travel. Argentina has 16% of the crypto shares of the world and it is in the 3rd position.
5. South Africa
If it believed that South Africa is one of the countries which is still developing and it has not developed yet. But even South Africa is in the 3rd position with Argentina and it also has 3% of the cryptocurrencies in the world. The crypto world has been growing all over the world in the past few years and it has not been regulated. The free-flowing is still on. There has been ups and down, dwindle and swindle in the sector but it has been flourishing. Africa uses
cryptocurrency to send remittance, this is the major use of cryptocurrency. In such cases, the use of cryptocurrency becomes even cheaper.
Conclusion
As we have seen above the top 5 countries that are rising with cryptocurrency have not been able to use cryptocurrency as regular money. In fact, they use it as an escape from poor standards of economy and life. But these top 5 countries have been trying really hard to scale the power of the bitcoins in the world.
Leave a Reply