ㅤ

[Lucius]

Yeah, they went for the capital cities, which is really stupid:
---
Let's compare a city of 600k with one of 24 million and ignore that New York alone has more than anyone on that list.

Yes, that's what I suspected, because the US certainly has far more places where you can pay with crypto, but everything else doesn't have much logic and it seems that all these companies just want to promote themselves with this kind of amateurish, almost meaningless research. In addition to these two reports, there is another one that mentions some other countries in the sense that they are "crypto ready nations", and there we see some other countries that are not mentioned at all in these two reports. If someone were to take 10 different approaches, I'm sure they could get 10 different lists with quite different results.

Worldwide crypto readiness is defined based on the number of blockchain startups in each country, the digital asset legislations and taxation rules, the number of ATMs, and the interest in the industry per capita.

Hongkong - 8.6 points out of 10
USA - 7.7 points out of 10
Switzerland - 7.5 points out of 10
Georgia
UAE
Romania
Croatia
Ireland
Czech Republic
Slovakia, Greece, Panama & Bulgaria shared 10th position.

[el kaka22]

I know another nation with 14 million users and 17% population, and yet the name is not there. It's fine, these lists are never really correct because we rarely get the "all" data pack when we are calculating this. We remove some nations because either bias, or lack of information or disputable data etc etc and that is why we get this stuff.

Like how the hell you do not put El Salvador which technically has 100% rate because everyone has to use it and it is a legal tender and it's illegal to not accept legal tender currency if someone wants to pay you with it. All in all, it is a good list, shows most of the amazing places and it means the world is very interested in it.

[stompix]

I know another nation with 14 million users and 17% population, and yet the name is not there.

The least work I've ever done in my life as a detective as weirdly there is only one country with 14 million citizens and that is Zimbabwe, but if you're going to tell me that 1 in 5 down there is a crypto "user" I would say its daydreaming.

Like how the hell you do not put El Salvador which technically has 100% rate because everyone has to use it and it is a legal tender and it's illegal to not accept legal tender currency if someone wants to pay you with it.

And what makes you think that everybody "has " to use it and everybody wants to use it?
It's just like credit cards here, just because you as a chain store you're forced to offer people the method of payment it doesn't mean every single person in the country has a credit or a debit card.

The reality is that there was much hype and little actual success, of course I already know, for some reality is FUD but here it goes:

Data from the Central Reserve Bank shows that between September 2021 and June 2022, that is, 10 months after Bitcoin was implemented, $120.46 million entered through “cryptocurrency digital wallets”, which represents only 1.8% of the $6,406.67 million that entered in total remittances in the same period.

Rember how Salvador was going to save trillions of quadrillions in WU fees?

[Leviathan.007]

It's not surprising to the USA is on the top of the list and as you can see from the report there are much more bitcoin ATMs there in the USA compared to other countries so also the government of the USA started dealing with bitcoin and cryptocurrencies before many other countries and there you can find many bitcoiners and bitcoin miners they feel more safely comparing to many other countries but the sad thing here is why we don't see countries like El Salvador of the list where they have a bitcoin-friendly government also in countries like Russia there are many bitcoin users in there that's why I think the report can not be trusted completely.

[Mario Yamasaki]

USA is certainly natural if you become a leader because many top exchanges are based in the USA such as crypto.com, coinbase, etc., of course this is a good fact and makes us worthy of optimism with the future of cryptocurrencies.

[Lucius]

Rember how Salvador was going to save trillions of quadrillions in WU fees?

Maybe in 100 years of using Bitcoin? Estimates were that this would save around $400 million a year, although data from the Central Bank of El Salvador say that only 1.6% of all foreign currency remittances were sent through what they call "digital wallets". Regardless of the alternative offered by Bitcoin, the average emigrant from ES who sends money home still chooses more familiar and simpler methods, which means that people trust banks and the centralized system more.

[Maestro75]

However, I don't believe that this data is accurate.

Totally agree with you,  it is obvious that the data is not accurate,  makes me wonder how this guys even manage to gather this data,  is it through online survey or do they walk on the street asking people if they hold crypto or not.

There is no way you can get 100 percent accuracy when it comes to data collection. There will be little errors somewhere from time to time and that is what I expect with this result. But we do not have to completely condemn it. It is good that Nigeria is on that list because its absence would be raising questions as we know Nigeria is a big on cryptocurrency. But why put Africa and South America in a different group is what I do not understand. That should be questioned.

[ChiBitCTy]

I always find this sort of data pretty fascinating, and would love for one of these to be ran for the forum. Now I know that probably impinges on our anonymity In some way, but perhaps there would be a way to do it with out that being the case. 

I’m surprised not seeing Australia on the list. From what I’ve found they seem to also be at the forefront of the crypto “wave”.

[Rikafip]

I can’t say for sure that they all own cryptocurrencies, but the fact that such a percentage of people are definitely familiar with cryptocurrencies is for sure.

Well its one thing to know about cryptocurrencies and entirely different to actually own/use some.

In another infographic (not from the Merchant Machine),  calculated that there are even more crypto users in Africa than in North America or Europe

Call me pessimistic, but I think that those numbers are inflated as well. According to that data ~6% of people in Europe uses crypto. In my country we have pretty decent crypto laws and I still think that we are far away from that percentage (I would say that we are in maybe ~1% region, if that).

Ownership of cryptocurrencies is not limited to bitcoin alone.

I am well aware of that fact that there are more owners of altcoins (combined of course) that of bitcoin, but even counting that I think that numbers heavily inflated. As I said it, I simply don't see it around me and I do move in those circles attend crypto conferences etc, people around me know that I know thing or two about crypto so its not like I am hiding it so people won't talk to me about it.

[dezoel]

Didn't expect that U.S snatch the first place because I thought they have banned cryptos before and they even restrict so many gambling sites and crypto exchanges. Another thing that surprises me is the number of atm's in their country vs to the other countries in the list.

I think in one place, there are many atm's that you can find while in other countries, their atm's will only be found on their main cities but why the number of merchants that accept cryptos are only small in the U.S? I think this has to do with the number of atm's found on their country. People won't feel the need to use their crypto for paying but they will just use the btc atm to dispense cash.

[lucates]

However, I don't believe that this data is accurate.

Totally agree with you,  it is obvious that the data is not accurate,  makes me wonder how this guys even manage to gather this data,  is it through online survey or do they walk on the street asking people if they hold crypto or not.
In whatever way they get the data,  there is no way it can ever be accurate,  if they get the data through online survey,  not everybody fills online survey,  I for sure do not.
And if they ask people on the street, how many people can they ask and how many cities can they cover? ~ so there is practically no way this type of datas can ever be accurate.

All the data is not 100 percent reliable, but the source makes us believe it. This is from some random source, and the internet is deeper than we think, especially in the case of crypto-currencies. Is this data from crypto-friendly countries only? Because many others use crypto through VPN etc. That's why data for crypto-currencies is questionable.

[Joshapat]

The unique thing is Ukraine because they are war, the best solution is to use cryptocurrencies, I'm sure the number of cryptocurrencies users in Ukraine is increasingly massive because many donations are sent to Ukraine residents using cryptocurrencies.

[stompix]

Didn't expect that U.S snatch the first place because I thought they have banned cryptos before

And from where do you get your news? Putin's bidet maybe?

Another thing that surprises me is the number of atm's in their country vs to the other countries in the list.

Then it might surprise you that they not only have the largest number of ATMs, but the largest numbers of businesses accepting it, the biggest stashes of cryptos, the biggest share of bitcoin mining, oh, in short, like everything! Bitcoin is money! You can't have bitcoin without money and you won't find bitcoin usage where people can't afford anything.

Call me pessimistic, but I think that those numbers are inflated as well. According to that data ~6% of people in Europe uses crypto. In my country we have pretty decent crypto laws and I still think that we are far away from that percentage (I would say that we are in maybe ~1% region, if that).

I would say that maybe we're around 3% when it comes to ownership and that 3% only for the 18+ segment, and maybe down by an order of magnitude when it comes to users! Because owners and users are totally different things in crypto unlike owning almost anything else.
I was looking at those numbers one more time and it struck me that 28% of Nigerians own cryptos, now according to statista 41% of the population is under 14yo so let's not even think there is a sizeable market there and we have one in every two adults owning cryptos, including those who are in their 65+ as if we would cut even those it would mean every two out of three would be owning some which is ridiculous.

Another cold shower on all this is that right now there are just 13 million addresses with a balance of over 100$,  of course, one can argue that most hold their coins on exchanges but that brings another problem of its own.

We have a long way to reach those numbers and I wonder what will people who claimed now 20% will say when we finally reach that stage, 300% ownership?

[BRINIRHA]

I didn't expect that crypto users in thailand have grown so much. because I thought Thailand didn't have too many crypto users there but I was wrong when I saw the data above. but indeed in Thailand today more and more crypto projects are popping up. and the enthusiasm there is incredible.

I even read recently from various sites and news in Indonesia in 2021 its users have reached 11 million crypto and in 2022 it has increased to 12.4 million crypto users. this statement was directly submitted by the regulatory agency in the country (Bappepti). for too many news sources on google. so I can't link one by one. but this is one of the reliable sources there https://katadata.co.id/amp/desysetyowati/digital/623c2c791aab3/sum-investor-kripto-di-indonesia-12-4-juta-lampaui-saham .

But I understand that Indonesia is not included in the top ten list even though it has many crypto users. because the categories in the table presented by the OP are also based on percent of the entire population.
but if it is not based on the percentage calculation of the population then the list of the top 10 will definitely have Indonesia in it. Like this.

Sourch : https://goodstats.id/article/peningkatan-pengguna-mata-uang-kripto-di-indonesia-pswx2

[Yamifoud]

I couldn't just think and really amazed seeing India is leading the number of crypto holders and users. It was to say that people from there are really having trust and converted their money to crypto as a sort of escape from inflation. Imagining those numbers and if that also happens to other countries, I could say that crypto adoption and becoming a global currency is not possible.

Likely to see more and more countries will be added to the list a few years from now. I am very certain of that.

[KennyR]

I couldn't just think and really amazed seeing India is leading the number of crypto holders and users. It was to say that people from there are really having trust and converted their money to crypto as a sort of escape from inflation. Imagining those numbers and if that also happens to other countries, I could say that crypto adoption and becoming a global currency is not possible.

Likely to see more and more countries will be added to the list a few years from now. I am very certain of that.

It is a big market, but the legal status isn't announced by the government. Based on the taxation levied people have begun to use it without fear. India have got good IT technology crowd and that is a major reason why it is possible to see a big number of users getting into cryptocurrency.

Another important thing is the demonetization of Money. The government in India is something like a dictatorship in a democratic country. They make decisions in the morning and anounce in the midnight that the currencies in circulation isn't valued anymore. To overcome such unexpected situations people find cryptocurrencies as the safe haven.

[BRINIRHA]

~~~

It is surprising to see Indians have sure a huge population which is into crypto. They are people with great minds. Even there is a place in Singapore which is called little India. ANd read it in other forums that Singapore will be bitcoin hub so do doubt Indian are going to take the biggest space there as well.

lots of great thinking people in india. And if you search for great people in the crypto field then you will find many crypto projects that have Indians behind them. even the number of crypto users has now reached around 115 million users. Even I would not be surprised if one day India will occupy the 1st most users.

And you probably already know a trending altcoin that originated in India. namely POLYGON (MATIC).
I will quote a little history of Matic

A Brief History of Polygon MATIC

Polygon was created in India in 2017 and was originally called Matic Network. Matic itself was created by several Ethereum developers, namely Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.
Sourch : https://www.cermati.com/artikel/amp/polygon

And there are many other great altcoin projects from India. because there are many experienced people in the cryptocurrency field from India.

[xSkylarx]

Also in the same study is a table with an increase in the number of people owning cryptocurrency. The top 10 includes mainly countries in Africa and South America.

-snip

It's surprising to see that our country Philippines is top 10 on the list. Even though we are a 3rd world country, many of my countrymen know how to use cryptocurrencies. We even surpass countries who have better access to this technology like Japan or South Korea.

If the data on the table became true then in few years big companies here will also start to adopt crypto and could offer the related services on their platform.

[Asiska02]

Also in the same study is a table with an increase in the number of people owning cryptocurrency. The top 10 includes mainly countries in Africa and South America.

The complete figures might not be entirely accurate, as other users have discovered here. The second table, which shows the number of cryptocurrency owners in Nigeria, is unquestionably accurate, and the other data indicating the number of cryptocurrency owners in Nigeria which will continue to rise over the next few decades. Even though the country has not yet legalized cryptocurrency trading, many youths and business owners want to invest in it. The majority of young people without jobs discovered that owning cryptocurrencies offered a way to make money and provide for themselves, and as a result, they are heavily utilizing it. I am extremely proud that my country ranked highest on that list.

[CryptoHeadlineNews]

The second table, which shows the number of cryptocurrency owners in Nigeria, is unquestionably accurate, and the other data indicating the number of cryptocurrency owners in Nigeria which will continue to rise over the next few decades. Even though the country has not yet legalized cryptocurrency trading,

Yes, I totally agree with what you just said, as Nigeria is a country with great minds, because despite the fact that it's government restricted banks from processing  Bitcoin related transactions, it still yet we came first on the list, which actually shows the level of love Nigerians have for new innovations, tech and most especially Bitcoin in general. So there is absolutely a high tendency in next 10yrs, the number will double or triple