Which country invests the most in Bitcoin?
In 2009, when Bitcoin went on the market, it did not immediately become a great success.
Most investors were hesitant to make a decision whether to bet on this asset or not. Many did not believe in the growth of Bitcoin.
In recent years things have changed a lot, certainly for the better, the criptovalute the market has never stopped to grow and show a trend bullish .
Even Paypal , the largest digital payment service, has opened its doors to Bitcoin. Starting this year, it gives its customers the opportunity to buy cryptocurrency and thus pay for purchases made on the web.
This will happen first in the US and then in the rest of the world (Read our article How to buy Bitcoin with PayPal in 2021 ).
To draw up the ranking of the countries that have invested the most in Bitcoin was Paxful , the P2P ( peer-to-peer ) platform in the field of Bitcoin , which collected data between 2015 and 2020 and published by Quartz .
Are you curious to know who is in first place?
1 Ranking of the 10 countries that have invested the most in Bitcoin with a total trading volume of Bitcoin
2 Ranking of the 10 countries that have invested the most in Bitcoin with a total trading volume in dollars
3 The United States takes Bitcoin seriously
4 Nigeria is second in the world on Bitcoin
5 The advantages of Bitcoin
Ranking of the 10 countries that have invested the most in Bitcoin with a total trading volume of Bitcoin
10. Philippines: 2.121 BTC
9. Vietnam: 3,323 BTC
8. Kenya: 5.895 BTC
7. Australia: 7,050 BTC
6. India: 10.017 BTC
5. UK: 11.169 BTC
4. Canada: 15.367 BTC
3. China: 20.553 BTC
2. Nigeria: 60.215 BTC
1. USA: 535.660 BTC
In first place could only be the United States of America with a total trading volume of 535,660 BTC ($ 3.76 billion) .
But what is surprising is Nigeria which takes second place with a total trading volume of 60.215 BTC ($ 567 billion) . A growth that seems to absolutely not want to stop.
It is the largest Bitcoin market in Africa, followed by Kenya in eighth place with a total trading volume of 5,895 BTC ($ 55 billion) and in 10th place is South Africa with a total trading volume of $ 18,935,812 .
Ranking of the 10 countries that have invested the most in Bitcoin with a total trading volume in dollars
10. South Africa: $ 18,935,812
9. Philippines: $ 22,733,649
8. Kenya: $ 55,292,942
7. Australia: $ 75,643,905
6. India: $ 94,794,948
5. UK: $ 119,440,278
4. Canada: $ 131,108,721
3. China: $ 181,329,392
2. Nigeria: $ 566,668,692
1. USA: $ 3,755,463,837
The United States takes Bitcoin seriously
In the latter period, more and more companies in the United States are taking Bitcoin more and more seriously (read our article on how to buy Bitcoin ).
One of the reasons is that the cryptocurrency has the characteristic of not being subject to inflation but from deflation . In fact, an emission limit has been set for Bitcoin which is 21 million. This mechanism is just the opposite of what happens with fiat currencies.
Furthermore, due to the health crisis of 2020 , American finance experts have returned to speak strongly about Bitcoin. It is urgent to find alternative systems that protect capital from inflation.
There are many American companies that are taking an interest in Bitcoin precisely to defend their capital, they are worried about having too much liquidity in the bank. Many are thinking of Bitcoin as a safe haven, just like gold is.
Nigeria is second in the world on Bitcoin
Bitcoin began to spread in Nigeria in 2016. Although the approach was not one of the best due to the scam put in place with the Ponzi MMM scheme ( Mavrodi Mondial Moneybox ). They promised a monthly return of 30% on investment in both Bitcoin and fiat currency .
Many people lost their money and got into debt, but nevertheless this led to an increase in interest in Bitcoin which still continues to grow today, becoming the second largest Bitcoin power in the world.
Young people in particular see cryptocurrency as a substitute for the local currency , Nigerian Naira and the US dollar.
Unfortunately Nigeria is known for its high poverty rate, almost half of the country’s population. This is precisely one of the reasons for the search for an alternative source of income and Bitcoin seems to be a perfect solution.
It is a currency that offers a lot of freedom , it is not controlled by banks, by any institution. Transactions can be carried out in total autonomy.
Not to mention the high unemployment rate that has prompted many people to trade Bitcoin , making it an alternative source of income .
Recently, the SEC ( Security and Exchange Commission ) of Nigeria has announced that it will proceed with the approval and registration of all digital assets, addressing the criptovalute and utility token as commodities . Instead, security tokens are considered securities and investment funds and derivatives of specific investments.
He also added that he does not oversee utility token transactions and spot trading .
To confirm this increase in Nigeria’s interest in Bitcoin there is also Google Trends .
google trends bitcoin
Google Trends – Interest by geographic area: Bitcoin
The increase in searches is also due to the fact that subscriptions to services related to cytocurrencies have increased significantly , for example on exchange platforms that allow you to open an e-wallet and make exchanges.
The advantages of Bitcoin
Bitcoin has multiple benefits to offer, starting with trade to cross-border money transfers and more .
There is no doubt that it has revolutionized the financial sector and over the years the results are increasingly encouraging.
Thanks to the exponential growth of cryptocurrency, it allows you to make many investments , as well as the possibility of keeping it in your digital wallet.
There are so many online trading platforms that allow you to buy and sell bitcoins on the web . For this reason we recommend that you only rely on regulated and therefore safe platforms such as eToro .
Other strengths of bitcoin are the freedom of payment and this means that any amount of cryptocurrency can be instantly sent and received at any time of the day.
Furthermore, the transaction costs are very low , sometimes even non-existent. TO
Although there are still those who consider the digital currency to be unsafe we can say that it is not, it is instead safe and subject to controls , not by institutions but by Bitcoin users. No authority can take an interest in transactions , imposing additional fees for exchanges or stealing users’ money.
It is a decentralized network that is based on sharing and communication between all those who participate in it.
Security is ensured by the use of encryption.
The transactions are anonymous , personal information is omitted. This protects you from identity theft, for example. Furthermore, any information regarding the movements of bitcoin can be viewed directly on the blockchain and anyone can access.
Every single transaction is publicly archived in an “electronic accounting book” which is precisely the blockchain .
In addition to this , cryptocurrencies can be saved on an external USB key in order to protect themselves from possible attacks by hackers.
Bitcoin is a constantly growing reality.
Today, more and more people and countries are using Bitcoin in the world of economy.
Over the years, the cryptocurrency has become more and more stable .
In particular, the continuous growth of the price and the fact of being volatile have aroused the interest that even if the latter aspect involves risks, it can at the same time be a good opportunity to obtain gains through investments.
Currently, more and more online platforms offer the opportunity to operate on cryptocurrencies.
There is certainly no lack of criticism coming from the big names in the financial market, but given the positive trend of bitcoin they tend to change their minds.