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Biggest bitcoin markets by country10 Countries With The Most Bitcoin Hodlers | UseTheBitcoin
Eljaboom March 7, The number one country currently experiencing huge blockchain and crypto adoption growth is South Korea. The Asian tiger fully legalized cryptocurrency transactions at the start of the week leading to a bullish momentum in the market almost instantaneously. Over the course of , the government has run a number of test runs on blockchain technology as more companies in the field look for partnerships in S.
All Rights Reserved. Search for:. Price Analysis. ICO Review. Submit ICO Review. Editor's Pick. France On the fourth spot is the latest country to shine a light on the crypto field, France. China China has been one of the most vocal countries in developing their own digital central bank currency.
India India has been one of the biggest jurisdictions opposing Bitcoin BTC and other private crypto payment systems, banning crypto completely. South Korea The number one country currently experiencing huge blockchain and crypto adoption growth is South Korea.
Is this the start of a crypto revolution across governments across the world? Share on Facebook. Share on Twitter. Share on Linkedin. Share on Telegram.
Author: Lujan Odera. Been in the field since and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Seeing the sheer amount of international companies that reside here, it is logical that cryptocurrency payments are applied due to the low cost of transacting with them overseas. Aside from hacking attempts, most East European countries do not make headlines for owning cryptos. It is not known precisely just how popular Bitcoin or altcoins are from individual to individual, but still, these numbers show some promise.
Even though China has made headlines for its numerous crackdowns on crypto operations, it still has a record for excelling in digital trading. There have been many reports that show that Chinese citizens have moved closer to power plants to profit from the cheap electricity provided by them, and use them to mine bitcoins. However, seeing its current regulatory actions towards cryptos, the number of hodlers might dwindle in the future.
Spain hosts quite a large number of regular bank ATMs which support the exchange of Bitcoin to fiat currency. An interesting turn of events, although more growth is direly needed. As mentioned before, there are many ATMs installed in the country that allow individuals to buy and sell digital assets. This makes of Spain the fifth largest country with the largest number of ATMs installed.
Although there are several individuals and companies operating in the cryptocurrency market in the country, some issues have affected the space. In July , the cryptocurrency exchange BitMarket, one of the largest in Poland in terms of trading volume, experienced liquidity issues and stopped operating. Several million dollars worth of Bitcoin has been lost. The co-founder has also been found dead, which makes things even worse. The country has to be focused on improving its regulatory framework if it wants to remain competitive.
Earlier in , many individuals were affected due to the lack of clarity of the regulatory environment in Poland. In addition to it, there are many companies located in the country that are currently working in the cryptocurrency market.
Thus, this shows there is a large interest in digital assets in Poland and potential future growth. Turkey is a country riddled with political tensions and ambiguous regulations, but this environment is what facilitated Bitcoin and altcoins to escalate in terms of traction and interest.
Although still lacking any proper procedures for crypto and blockchain related matters, things look rather promising. It has been discovered that one in five Turks holds Bitcoin or other digital currencies, which represents a slightly larger number.
All the same, these stats only make up a percentage of all its residents and should be interpreted by taking this into consideration. It is worth pointing out that during the recent crisis experienced by the Turkish lira, many individuals started buying Bitcoin and other virtual currencies.
The digital asset worked as a store of value during that time. Although Bitcoin was in a bear trend, the expectations for its future growth attracted many investors in the country.
Because of this, there is a large number of BTC being transacted in and out of the country, with many opting to hold them for the high-yielding investment potential. The country has also one of the most effective regulatory environments in the world related to blockchain technology and virtual currencies.
Exchanges that want to start operating in the country must have the necessary license provided by the Financial Services Agency FSA , the regulatory entity of the country.
These new regulations were implemented after the bull market of and due to the fact that several crypto exchanges were affected by hacks and irregular issues. Now, there are many firms that want to establish themselves in the country and are waiting for regulatory approval from the FSA. Japan is also the country with the second-largest trading volume against Bitcoin around the world after the U. Switzerland is mostly known for its cutting-edge banks and financial institutions, but now this nation has made very clear its intents of becoming a cryptocurrency and blockchain hub.
Banks have started opening their doors to cryptocurrency payments, a move which has encouraged many of its citizens to dabble into cryptos, mainly because they now have a form of security.
Switzerland has also gained an important position in the cryptocurrency space with regulations that were implemented in its territory. The city of Zug has experienced exponential growth in the number of companies related to the crypto market operating there.
South Korea is another Asia country that is impacting the Bitcoin scene.