According to the latest survey from Chainalysis, crypto adoption are on an uptick, with adoption rates jumping 880% in a year. The report found that 1 million people bought their first cryptocurrency between 2016 and 2018 as interest has increased among investors worldwide.
Cryptocurrency is becoming popular worldwide for many reasons- including its decentralized nature, which offers more security than traditional currency markets or investment vehicles such as stocks. As prices have steadily risen since last January, excitement over this emerging market continues to grow amongst both novice and experienced investors alike who see it as having great potential in the future.
This year’s Global Crypto Adoption Index revealed that Vietnam, India, and Pakistan have the highest cryptocurrency adoption rates. The index considers technological infrastructure, investment opportunities in crypto-assets and access to information about cryptocurrencies, among others, before concluding these three nations have a higher level of acceptance for digital currencies.
Russia, Ukraine, and Venezuela, the leaders in 2020, were all relegated to the bottom of this list. Ukraine fell to fourth place and Venezuela to seventh. Russia dropped out of the top 10 and fell to 18th on the world rankings. China was dropped from this ranking due to its recent decision to ban crypto mining.