Since its inception in the year 2009, the BitiCodes market has witnessed a wavy journey through ups and downs with the market gearing up to a $2.22 trillion global market to its current market cap which is $1.02 Trillion. Many countries have prominently contributed to forming the legacy of this new age digital currency system, and undoubtedly the US takes the front foot. While the United States holds the predominant position in cryptocurrency trading, other English-speaking countries are also making voluminous trading like Canada, the UK, South Africa, and Australia. Emerging economies like India, Nigeria,and Brazil have also accounted for heavy cryptocurrency transactions. However, China, a prominent world economy has banned transactions in cryptocurrency.

Countries Stepping Up to Cryptocurrency

The Global Crypto Adoption Index issued a global report in 2021 which illuminated facts like that of the market has more than 154 countries actively accounting for metrics and accounts of cryptocurrency trading volume. While the most voluminous cryptocurrency transactions evolved from the developed countries, the trend is changing with the emergence of developing countries also coming up in the race.

The transition period between 2020 and 2021 has created a legacy the history with record growth in Global crypto adoption with global crypto transactions accentuating 881%. Vietnam, Nigeria, India, and Pakistan have surprisingly taken the world aback with abundant interest in cryptocurrency and growing trade volumes.

According to one of the recent reviews of blockchains, Nigeria, Vietnam, Venezuela and Kenya, have exhibited tremendous volumes on P2P (peer-to-peer) networks. While Bitcoin takes the first seat in the list of highest market value cryptocurrencies, other crypto tokens which have taken the attention of the market are Ethereum, Tether, Binance, etc.

World’s Top 10 Crypto Countries

The latest list of countries using cryptocurrency has stated that most of them have  taken world trading experts by surprise. Third-world countries like Nigeria and Vietnam have taken away the crown with potential cryptocurrency trading volumes.

  1. Nigeria: 32%
  2. Vietnam: 21%
  3. Philippines: 20%
  4. Turkey: 16%
  5. Peru: 16%
  6. Switzerland: 11%
  7. India: 9%
  8. China: 7%
  9. U.S.: 6%
  10. Germany: 5%

The charges embarked upon normal money transfer and foreign exchanges play a havoc role behind inclining people towards cryptocurrency. Since cryptocurrency trading charges or fee is comparatively much lower or affordable, Nigerians have taken up cryptocurrency to transfer funds across international boundaries. Besides, even to purchase products or services like payments at restaurants, hotels, spas, etc. cryptocurrency payments are gaining popularity, with businesses also adapting the currency system rapidly.

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Apart from Nigeria, even Vietnam and the Philippines, have become top users of cryptocurrencies. According to a report revealed by the best exchange and survey platforms, the Philippines’ Central Bank has officially approved the multiple crypto transactions with exchanges to be the “remittance and transfer companies” partner in the country.

Following the trend, even countries like Africa and Southeast Asia, and Latin America are building statements in cryptocurrency usage. As per the global record of transactions and trading, 16 % of respondents have been tracked from Peru, with countries like Mexico, Argentina, Chile, Brazil, and Colombia also taking up the trends. In Europe, after the UK the names which have come up in cryptocurrency transactions are Greece and Switzerland.

The US in Bitcoin World Trading

Bitcoin recorded a growth of 113% in the year 2021, and it was tremendous growth concerning the amount of competition it has brought in the market of cryptocurrency today. The growth of the cryptocurrency market along with revolutionary acceptance from developing as well as developed countries, and world businesses like Microsoft, Overstock, Starbucks, Amazon, and PayPal, has led to a havoc growth of the entire market. Even many financial experts are looking up to a bright future of cryptocurrency which might one day replace dollars as well. However, even though the truth or probability of such an incident is completely debatable, the scope of profitable trading in cryptocurrency is not with Bitcoin Freedom which helps to conduct safe, easy, fast, and affordable trading in cryptocurrency. Well, if you still haven’t marked your first foot into cryptocurrency trading, it’s perhaps time that you don’t stay behind the global trend anymore and join up as soon as possible.


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