Over recent years, cryptocurrency such as Bitcoin has rocketed in terms of both popularity and value. In the early years, very few people used cryptocurrency or knew much about it. However, the usage of these decentralized currencies has now gone global, with consumers in some countries using them and getting involved in Bitcoin investieren more than in others.
A recent study carried out this year looked at the use of cryptocurrency around the world in order to determine which countries tended to use it the most. The results were pretty surprising, with the data suggesting that Turkey and Latin America have the highest number of cryptocurrency users. The survey involves asking participants in different countries with around 1000 being selected from each one.
Double Digits for Cryptocurrency Adoption
According to the figures, the top countries and destinations where cryptocurrency was being used by consumers saw cryptocurrency use go into double digits. The data showed that in Colombia and Brazil, around 18 percent of people said that they owned and used digital currency. In Argentina, this figure stood at 16 percent while in Chile, the figure was 11 percent.
A number of individual countries were also polled as part of the study, and the leader in this instance was Turkey. Bordering two different continents, the country has seen inflation rocket over the past two years. In this destination, cryptocurrency has gained favor and popularity because of the depreciation of the local currency, the lira. According the data collected as part of the study, around one fifth of those participating in the study in Turkey said that they owned Cryptocurrency.
The study was also carried out in other parts of Europe, and the results showed that in Western Europe, it was Spain that saw the highest level of cryptocurrency ownership and usage. In Spain, there have been a lot of financial and economic issues and this has resulted in cryptocurrency usages rising to around 11 percent. A variety if Eastern European and Asian destinations also saw an increase in cryptocurrency usage. This included China and Indonesia, with usage levels standing art around 11 percent, and also the Russian Federation, with usage standing at 9 percent.
In terms of usage in First World nations, Denmark came in at 8 percent usage, Australian with 7 percent, the UK with 6 percent, and the United States on 5 percent. Although Japan is seen as a leader in innovation and crypto regulations, usage levels only came in at 3 percent. This will come as a surprise to many with some expecting Japan to be up there with the higher adoption levels. Both France and Germany had usage levels of around 4 percent according to the survey data.
The report gives an interesting insight into how different countries and continents are adopting cryptocurrency as well as the reasons behind the adoption levels of digital currencies in different places. Many believe that the use of cryptocurrency will continue to increase across the board.
programmer, broker,and traveller