Every day the number of users in the crypt world increases. As more and more people realize the qualities of crypto currencies like Bitcoin, they begin to acquire and use them on a daily basis. Thanks to this, several countries now have important national crypto user communities. That’s why today we’re telling you which 10 countries have the highest adoption of Bitcoin in the world.
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The main crypto countries
At this point, for anyone moderately familiar with cryptomonies, the advantages they have over fiat money are obvious. That’s because the decentralization and flexibility offered by currencies like Bitcoin makes operations like international transactions much easier. In addition to providing, in many cases, a refuge of much more stable value than several national currencies.
That’s why several countries around the world have seen a significant flourishing of their crypto user communities in recent years. This has been reflected by Chainalysis in a recent report, which identifies the 10 countries with the highest adoption of Bitcoin. Using as a criterion for the ranking the proportion of the population of each country that migrated its financial activities to crypto currencies.
This information was obtained through four variables: the value received through the Bitcoin Blockchain, the value received through commercial activities, the number of deposits in the Blockchain, and the volume of P2P exchanges. This would provide four different scores for each country, with which Chainalysis created an index with a scale of 0 to 1.
Thus, the country with the highest adoption of Bitcoin Rush according to Chainalysis‘ report would be Ukraine, with an index of 1, followed by Russia and Venezuela in second and third place respectively. While China in the fourth place would be, along with the United States, one of the only two developed countries within the ranking. Closing the same Kenya, South Africa, Nigeria, Colombia and Vietnam.