Chainalysis’s most recent study shows that Vietnam, the Philippines, and Ukraine are the three countries with the most adoption. The United States is fifth. On September 14, a report called “Global Cryptocurrency Adoption for 2022” came out. Based on the study, Vietnam is the country with the most people who use cryptocurrency. The Philippines came in second, Ukraine came in third, and the US came in fifth.
The adoption index shows that developing countries are still at the top, just as last year. Last year, this started to happen. The World Bank says that people in the middle class make less money in Vietnam, the Philippines, Ukraine, India, and Pakistan. Brazil, Thailand, Russia, and China, on the other hand, all have an upper middle income. You can easily trade Bitcoins by joining BitiCodes.
For the second year, Vietnam won the most points. It was the first country this year to use cryptocurrency. The US was number six in 2020, eight in 2021, and five in 2022. Even though it fell one spot from 2020 to 2021, the US is still in the middle of the pack and is the only high-income country with such a high adoption rate.
Last year, China was number 13, but this year, it has moved up to number 10! The research shows that China is very good at putting all of its services in one place, which has made more people use them. The country’s ban on trading cryptocurrencies was either ineffective or poorly done, says the World Bank, because it didn’t stop the use of cryptocurrencies from growing.
Even though the market is shrinking, more and more people are buying from it.
The adoption rate was another important number that came out of the study. The bear market caused the number of people using cryptocurrencies to go down, but there were still more people using them than before the bull market.
The survey shows that since the middle of 2019, the adoption rate has been steadily increasing. In the second quarter of 2021, the adoption rate reached its all-time high. Since then, it has gone between that high and that low again and again.
A recent study found that Vietnam has the second largest cryptocurrency industry in ASEAN, after Thailand. More than $100 million worth of business is done in Vietnam. Still, Thailand is the best place in ASEAN to buy and sell cryptocurrencies.Chainalysis, a source of bitcoin data, surveyed Singapore, the Philippines, and Indonesia, in that order, were second, third, and fourth.
The report says that many people from Vietnam, Thailand and the Philippines buy tokens that can’t be used to buy other things on online markets. There could be a lot of web traffic to these marketplaces because there are so many blockchain players in these countries.
At one point, Filipinos made up 40% of the people who played the Vietnam-based game Axie Infinity. People say 25% of Vietnamese and 23% of Filipinos have played a “play-to-earn” game.
On the other hand, 13.7% of all cryptocurrencies are in the United States, which puts it in third place. On the other hand, Vietnam is number one because 20.3% of its people, or one in five, have bitcoin.
On the Triple A website, there was also a map that showed who owned bitcoins. The Twitter account “DocumentingBTC,” also on the map, found the top seven countries. With 130 million people, Asia was the continent where most people owned their own homes. Cryptoslate says that Oceania had the least number of owners, with just over a million.
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