Crypto is growing faster and faster every day. Once just a strange fad, now it has grown so much that there is a huge percentage of people using it as an investment opportunity and regular currency. And this number is growing day by day.
Because of this rapid growth in the industry, different countries have adopted different models of handling these new currencies. Some countries have liberated the use of these coins without much regulation, while others straight up ban any cryptocurrencies for their citizens.
All of this has impacted coin ownership depending on the country, and thus citizens of some countries have on average a lot of coins or investments into it, while others have close to none. Today we will cover what countries rank highest on this scale and what the probable causes of that are.
With an estimated 100 million crypto owners, India is one of the biggest owners of these coins on the planet. Even though people are not wealthy, they try to invest in the industry because of the promise of rising values and low transaction fees. Most likely this number will grow en further in the coming years.
The biggest country on Earth is also one of the few that has a special love for cryptocurrencies. It is estimated that around 12% of Russians own or have owned some kind of coin in the past 5 years. The country has passed legislation to stop illegal money transfers and is attempting to regulate the market even further in the near future.
The US is estimated to have the biggest number of crypto endeavors and activities in the world. There are a huge number of exchanges, trading platforms, mining facilities, industries, and interests in Bitcoin. All of this means that the US is estimated to be the biggest holder of Bitcoin in the world!
The US government is open with Bitcoin and other coins and they promote the development and usage of it, attempting to create new industries through it. This will most likely leave the US in a leading crypto position in the future as well.
Africas largest economy seems to be adapting quickly to the new crypto boom. It is estimated that a bit over 30% of tech-savvy Nigerians have already owned, or still own one or multiple coins.
Probably the biggest reason behind this is the poverty experienced by the Nigerian people. Some cyber transactions are affordable and have the possibility to grow in value which is perfect for the impoverished.
China is a weird addition to this list. While its growing population and living standard has shown extreme interest in crypto, the government wants to eradicate it in any way possible. There have been a lot of crackdowns on mining facilities and coin holders in recent months. Even though all of this negativity towards these coins, Chinese people are still among the biggest holders of all kinds of coins!
Learn More Here:
Yahoo Finance, Forbes
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