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Cryptocurrencies & Countries of Adoption

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Written by   29
6 months ago
Topics: Cryptocurrency

When the words Bitcoin, Ethereum or Digital Assets in general are heard, some people think about it as something not important, a failed business or simply being used for money laundering, while others understood the purpose of cryptocurrency, adopted it and are using it. Today, we're shining the light on some of the countries that use crypto, and here is the list with no actual particular scale:

10 - Togo

Togo, officially known as the Togolese republic, is a country located in Africa, with an emerging market in cryptocurrencies along with other African countries. Meanwhile, Togo is leading in Africa in DeFi adoption, and is currently ranked top 20 on the "Chainalysis" imminent DeFi Adoption Index, while the Togolese footballer known as Donaldson Nukunu Sackey, launches his very own cryptocurrency.

9 - Kenya

Kenya, officially known as the Republic of Kenya, is another African country that adopted cryptocurrencies, and was declared the worldwide leading country in peer to peer cryptocurrency trade. It is one of the largest Bitcoin market in Africa, and is now ranked as a leading adopter in cryptocurrencies.

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8 - Argentina

Argentina, officially known as the Argentine Republic, is one of the top leading countries in bitcoin and cryptocurrencies located in South America, and while the civil population are buying, selling and using the digital goods, the country's government announced a new rule for crypto, which is a tax of 0.6% , on the purchases and sales that do happen.

7 - United States

USA, officially known as The United States of America, is among the top countries that uses the digital goods, and is located North America, and within the years, crypto has shown it's importance in the US, where it holds the interest of US lawmakers & government agencies.

6 - India

India, officially known as the Republic of India, is an Asian country located in South Asia. It was one of the world's leading countries in cryptocurrency, until the year of 2018 , where India’s central bank instructed a "ban" on the banking services to cryptocurrency companies. Indian people still use crypto until this day.

5 - Nigeria

Nigeria, officially knows as the Federal Republic of Nigeria, is a country located in Africa. It was the first African country to introduce crypto and digital currencies to it's citizens, and while crypto heavily influenced this country, the central banks around the world and the one in Nigeria are now producing their own digital currencies, and in the African country's case, it the E-Naira.

4 - Vietnam

Vietnam, officially known as the Socialist Republic of Vietnam, is a country located in Southeast Asia. And while it's civil population are among the world's leaders in crypto, the state bank of Vietnam has banned Bitcoin and other similar cryptocurrencies, stating that the digital goods are illegal.

3 - Pakistan

Pakistan, officially known as the Islamic Republic of Pakistan, is a country located in South Asia, and is among the world's leading country in digital money. And while Pakistan have banned the cryptocurrencies in it's country, tons of civilians are still using it. The State Bank of Pakistan on the other hand, has not allowed any individual to purchase, sell or invest any type of digital coins. Meanwhile, the Standard Chartered Bank is settling the attraction of remittances throughout the blockchain technology.

2 - Venezuela

Venezuela, officially known as the Bolivarian Republic of Venezuela, is a country located in South America, and is currently among the leading cryptocurrency-adopted countries in the world. The currency had shown it's importance to the world and especially the Venezuelan government, that the government itself used crypto to make tiny payments to retirees. The government also uses the digital goods to price services or even fines, that are paid in the Venezuelan bolívar currency.

1 - El Salvador

El Salvador, officially known as the Republic of El Salvador, is a country located in Central America. It is among the world's leading countries in cryptocurrency-adoption. And moreover, the government of El Salvador recently planned to have the first Bitcoin city in the world, where there is no taxes to be payed. The Bitcoin city will be, as stated by the President of El Salvador Nayib Bukele, an ecological city that is energized by a volcano.

We end this article by saying that digital assets are as important as our own currencies, and adding them to our daily life should be a must, be it an investor or a regular person, crypto is the way to go. There are many other countries in the world that also use digital assets and supports the system, but I just wanted to add the ones on the list, simply based on my own opinion and the ranking system.

"Bitcoin has no physical form, it technically exists online as a complete digital asset. If you do see it, it is in the form of lines of code in an alphanumeric string. But the bottom line is, it is a store of value, void of manipulation by government."
― Olawale Daniel

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Written by   29
6 months ago
Topics: Cryptocurrency
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good job i have read this topic related to btc, its really important in our daily life to use crypto currencies , countries that has banned they should really unbanned its really useful.

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6 months ago

You are right, that's exactly what they should do. Digital assets are among the best things that came up from people.

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