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[SquallLeonhart]

The number of crypto users around the world has also increased dramatically and exceeded 200 000 000 users

This is a good news, we need more of these because the more people that get into bitcoin the higher the price will be and the easier it will get to actually be involved with crypto because laws will be allowing us to participate a lot easier when it is this easy to do that. However it may take a decade or two to make it as valid as any other foreign currency in many nations.

Like let's say you go to vacation at Ukraine, or Germany, or Italy, or Pakistan, or Nigeria basically almost everywhere around the world except maybe Russia or china (never been there so correct me if I am wrong) and you could live with dollars, the worst case you can cash that into local currency very easily as well. For bitcoin to be like that we may need another decade, it is getting there right now and if you really want to you can do that but it is not as easy as cashing dollars to local currency, that is way too easy.

[Anonylz]

And i assume the pandemic plays a role in this numbers to go much higher this year than previous, no doubt many people are looking for alternative means of earning, coupled with the social distance stuff, work from home, loss of jobs, crypto seem to be the perfect alternatives that fit into all this issues, what more you need than a device and internet and you are in, no rigorous procedure is required before joining, so am not at all surprise about this growth, the numbers will keep increasing.

[bittraffic]

Anyone also wondering why El salvador is not on the top list?

And i assume the pandemic plays a role in this numbers to go much higher this year than previous, no doubt many people are looking for alternative means of earning, coupled with the social distance stuff, work from home, loss of jobs, crypto seem to be the perfect alternatives that fit into all this issues, what more you need than a device and internet and you are in, no rigorous procedure is required before joining, so am not at all surprise about this growth, the numbers will keep increasing.

Pandemic accelerates the rate of adoption because it exposes how vulnerable we are when it comes to moving wealth from one place to another and this includes cash which you can't bring more than what is allowed. But with Bitcoin, all you need is just your private key or seed phrase in your mind and you can cross the Pacific to the Atlantic without getting your wealth confiscated.

Probably less than 10% of the businesses around the world have adopted crypto so there is more to come that will make the price of BTC way higher. 

[CryptopreneurBrainboss]

While such countries as Venezuela, Kenya, Nigeria, Vietnam are increasing this direction. This is due to the devaluation of local currencies. Also, many countries restrict the withdrawal of currency from the country. Cryptocurrencies are a good solution to these problems.

I don't know for other but I can vouch for my country, the local currency Naira is typically worthless, a million Naira was around $2,500 few months back when a dollar was trading around 400Naira per dollar but currently you'll barely get $2000 which means holding naira is a waste of time. Everyone in the country is trying to secure their funds in dollars and the easiest easy to do that is involving themselves in the industry.

With just a wallet and internet connection, you can get your naira converted to dollars if you're involved in cryptocurency but if that was to be done with the banks, you'll have to go through different procedure that it can becoming discouraging.

Crypto adoption will continue to increase in Nigeria as the masses has seen it as the saviour to the devaluation happening to Naira. I hardly have any Naira in my account, all my funds are stored in crypto and only get exchange to naira when the need for spending araise because spending directly with crypto isn't yet common in the country. I'm pretty sure others are doing the same too.

[uelque]

The global pandemic is one of the main reasons why crypto adoption increases I believe. Having people locked at their homes and some lost their jobs, they find another source of income and I think they found it in bitcoin and other cryptos that rewards people for their work.

Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.

And also, the play to earn games that are continously being introduce to people is another great addition.

[Vishnu.Reang]

These numbers make hardly any sense. Are they saying that Kenya is no.1 as far as growth in P2P volumes are concerned? And Togo is ranked no.2. Seriously? And the have ranked the United States at 109, India at 72 and Russia at 122. And China is at 155th rank! Rather than "growth in P2P volumes", they should be measuring the actual volumes. Because an increase from $10 to $10,000 may be calculated as 100,000%, while an increase from $100 million to $150 million will be calculated as just 50%. Completely ridiculous methodology used by these guys.

[Haunebu]

Isn't this obvious? The rising prices of popular cryptocurrencies in recent times is a big indication that more and more investors are entering the cryptocurrency market primarily because they treat crypto as assets.

Very few investors actually utilize cryptocurrencies as payment methods in their day to day lives. Crypto adoption rates as payment methods are still quite low currently.

High TX fees and long TX times related to BTC, ETH etc are clearly the primary reasons for such low adoption rates.

[SquallLeonhart]

The global pandemic is one of the main reasons why crypto adoption increases I believe. Having people locked at their homes and some lost their jobs, they find another source of income and I think they found it in bitcoin and other cryptos that rewards people for their work.

Also, the hype of some influencers and company owners like elon musk and others brings a great addition in crypto adoption. I'm not sure if some powerful influencers will bring good to crpytocurrencies, but their presence are introducing crypto to masses and that is good for now.

And also, the play to earn games that are continously being introduce to people is another great addition.

Pandemic was 100% guaranteed to be the biggest reason. People were stuck at home and I have to say whenever USA government gave checks to people, we have seen increase in the bitcoin price as well meaning that people used that to buy bitcoins and that is just the most obvious way to see it, otherwise any other regular day we wouldn't be guaranteed a data point to show that but it is obvious that pandemic and the biggest increase ever happened all at the same time, the biggest ATH was 20k and during pandemic that became 64k and started from 5k or so as well during march 2020.

This is why I am 100% sure that the price was definitely affected and the adoption was definitely affected by the current situation caused by the pandemic and I believe that we are going to keep seeing this for a while longer because even if people go back to work, they still can't give up on making money while staying in bed, that's just great.

[Tumanggor]

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good data, btw I am very surprised that Vietnam is in the first place, even the US and China are far behind
ranked 2nd and 3rd.. People in India, as well as Pakistan, are well aware that cryptocurrencies are the future

with this incredible growth, I am very optimistic that cryptocurrencies will be adopted in the next few decades

[Hippocrypto]

On that scenario, this will probably create a global attractions which could trigger different perspectives.
Other neighboring countries will soon understand how cryptocurrency is worth for everybody's lives, and the reasons why it became in demand globally.