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[Symmetrick]

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[mk4]

The United States would probably be in a better position if the government wouldn't be so opaque when it comes to regulations. I'd assume a sizeable amount of people are scared of holding bitcoin or other cryptocurrencies due to the regulatory uncertainty.

As for Venezuela and Philippines, yea that's probably due to Axie Infinity. Surprised it wasn't mentioned.

[Snappycoco]

Its nice seeing my country Philippines in this list. Axie Infinity is very popular here and almost every teen has its axie's already. A lot of stores are accepting SLP rather than BTC too. Aside from that, this pandemic also helps spread the words about Cryptocurrency. New players were tapped and now trading much more than before. Another thing is the deposit method to crypto that made easy by binance app.

[dkbit98]

It's impossible for Chainalysis to show accurate numbers because people are using VPN, Tor and other ways to hide their online activity, but it is still interesting report to read.
Something interesting I found here is report for country transaction volume by cryptocurrency type, showing some weird countries like Jersey and Guernsey in Europe (?! I never before heard about this countries existing in Europe), that with Liechtenstein have highest volume for Bitcoin.

Than I did some researching and found out that Guernsey and Jersey are actually self-governing Channel Islands in the English Channel near Normandy, and now I know that many people there use Bitcoin.
https://en.wikipedia.org/wiki/Guernsey
https://en.wikipedia.org/wiki/Jersey


https://bitcoinke.io/wp-content/uploads/2021/10/Geography-of-Cryptocurrency-2021.pdf

[dezoel]

I have to say the overall increase of adoption is the most important thing here. I always support bitcoin to grow bigger no matter which nation it is in. It is clear that some nations are interested in crypto a lot more than others, because we get to work here and make profit with dollars which helps us when we convert it to our own fiat.

Making 400-500 bucks a month in dollars is a good income for me, not great, not making me rich or something, but I can definitely make a living, anything above that is just small by small getting richer, of course from 500 to 600 doesn't suddenly make me rich, but 500 is the base, anything lower than that is a little tough. An American company, or European or whatever spending 6k dollars on a full year salary for a person is nothing to them.

So, for the big companies crypto became a candy store of finding good quality workers, and for third world nation countries it became obvious that we could make more money here than working in our own nation. This will cause adoption to increase a lot more in the future, I am sure of that.

[Baofeng]

It's interesting to note as well that in the list, most of the countries are either under-developed or developing countries. Which goes to say that crypto really empowers those un-banks and give. them economic and financial freedom. So I would say this is really a plus for those countries and for sure it will grow in the next decade or so. The merit is there, if and only if countries in Asia and Latin American will continue to make a big stride. We already have institutions coming in, what we need is government, like what El Salvador did.

[PrimeNumber7]

I found it interesting to see how much P2P trading is done in developing countries. This may be influenced by remittances from wealthy countries to poor countries. It shows that bitcoin has a seat in the global economy.

The index only accounts for on-chain transactions. With LN and other L2 solutions, this is going to be less meaningful over time. I would expect countries with developing economies to have an outsized adoption of LN due to tx fees relative to average income.   

[pealr12]

It's interesting to note as well that in the list, most of the countries are either under-developed or developing countries. Which goes to say that crypto really empowers those un-banks and give. them economic and financial freedom. So I would say this is really a plus for those countries and for sure it will grow in the next decade or so. The merit is there, if and only if countries in Asia and Latin American will continue to make a big stride. We already have institutions coming in, what we need is government, like what El Salvador did.

Absolutely, crypto is life changing for most of the developing countries, people are able to make a living through through their engagement online thanks to crypto, the axie infinity play to earn passive income really boost the amount of users adoption of crypto in the Philippines and putting them at the top of the chart, I guess this goes to show the positive side of this play to earn games and how they can aid in spending up crypto adoption.