You might have read the latest Statista analysts about cryptocurrency use by country? Here’s a tidbit: 32% of Nigerians own and use Bitcoin — Nigeria is the leader among the countries that are using Bitcoin and crypto in general, Vietnam (21%) goes second, followed by the Philippines with 20%. Other countries included on the list were Turkey, Peru, Switzerland, India, China, U.S, Germany, and Japan.
In countries such as those mentioned they do not see crypto as risky, in fact for them it is more reliable / stable than their national currency. Many countries have had currency issues, be it Venezuela, Argentina, Brazil, China, Mexico, Russia, Thailand, Turkey, Indonesia, South Africa, and Lebanon, they have all gone through at least one currency devaluation cycle since the 1970s. Bitcoin, on the other hand can be seen as with the Nigeria example as a more stable and viable currency, with a fixed supply and as it is decentralised and not Government controlled it can also be viewed as being free from suspect economic / monetary policies.
The research provides yet another proof that cryptocurrencies are gaining a wider and wider adoption across the globe! The more popular cryptocurrencies get, the higher the demand for coins and, in turn, their prices!
At Trade Fighter we are always happy to hear bullish news, and we are just as excited to share them with you!