Home Technology Blockchain Top 5 Countries Leading Cryptocurrency Adoption In 2021

Top 5 Countries Leading Cryptocurrency Adoption In 2021

Cryptocurrency is becoming a part of regular life with its increasing popularity. Many countries have widened their arms and welcomed this new technology with its alternate option to fiat currency. You can try this app, to know why the Cryptocurrency adoption rate in Kenya and China is really impressive. Though The United States of America is not on the list of top 5 countries, Cryptocurrency is too popular there to avoid. Here we will get to know about the top 5 countries that are welcoming Cryptocurrency with wide-open arms. 

Top 5 Countries Leading the Cryptocurrency Adoption

With the rising popularity of Bitcoin and other Cryptocurrency, more investors and institutions are putting their money in the Crypto market. More countries are adopting the concept of Cryptocurrency. Here is a list of the top five countries leading Cryptocurrency adoption in 2021. 

  1. Ukraine

This small Eastern European country, Ukraine, is embracing Cryptocurrency to its most in 2021. With technically sophisticated people, this unstable state lives midst of war. The technical up gradation and unstable economy are fueling the adoption rate of Cryptocurrencies in this nation. 

RankScoreOn-Chain Value ReceivedOn-Chain Retail Value ReceivedNumber Of On-chain ReceivedPeer-to-peer Exchange Trade Volume
1144711
  1. Russia

There are some possibilities for Cryptocurrencies and Blockchain being legalized in Russia. The action of the Russian government is supporting the hope of Cyuptocurrency being legalized there. Though to date, there are no specific rules and revised regulations that will support Cryptocurrency in this country. But one thing is crystal clear that the very decision of the Russian government will drive the world Cryptocurrency market. 

RankScoreOn-Chain Value ReceivedOn-Chain Retail Value ReceivedNumber Of On-chain ReceivedPeer-to-peer Exchange Trade Volume
20.9317859
  1. Venezuela

Venezuela is going through a hard economic situation. In this economic cruising, most Venezuelans depend on Cryptocurrencies in order to receive remittances from different countries in the world. They are using Cryptocurrency as an alternative to traditional fiat currency and protecting their savings from hyperinflation. The economic situation that Venezuela is going through is one the worst in modern history by making Bolvir the National currency worthless. 

RankScoreOn-Chain Value ReceivedOn-Chain Retail Value ReceivedNumber Of On-chain ReceivedPeer-to-peer Exchange Trade Volume
30.7991914152
  1. China

Cina is one of the fastest countries that are adopting Blockchain Technology. They are all set to introduce their first-ever digital currency as well. With its launching, China is planning to develop a global digital currency platform and wants to acquire the leading Currency, The United States Dollar. The Chinese government has a plan to launch their Blockchain-based digital currency on the global platform and wants the whole world to use their digital currency as an alternative to fiat currency.

RankScoreOn-Chain Value ReceivedOn-Chain Retail Value ReceivedNumber Of On-chain ReceivedPeer-to-peer Exchange Trade Volume
40.672119553
  1. Kenya

Kenya is another country that is in the fifth position in the Cryptocurrency adopting countries list. Though the peer-t-peer exchange trade volume is only one in Kenya, the on-chain received value is really impressive with an awe-inspiring 37. The number of on-chain receivings is also quite high, with 57. However, the government of Kenya is not supporting either Blockchain technology or the whole concept of Cryptocurrency. This country manages to show impressive results in Cryptocurrency adoption. 

RankScoreOn-Chain Value ReceivedOn-Chain Retail Value ReceivedNumber Of On-chain ReceivedPeer-to-peer Exchange Trade Volume
50.6453711571

Conclusion

 As per a study, these are the top 5 countries with the most high level of Crypto adoption. Ukraine is the first, and Kenya is the 5th. There are some more countries that are also taking part in the Crypto adoption campaign. Those are

  • Obviously, the United States Of America
  • South Africa
  • Nigeria
  • Columbia
  • Vietnam

And as a Crypto lover, we hope that the number keeps increasing and more countries come on the list. 

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