Bitcoin is an international phenomenon. It’s a truly borderless cryptocurrency: it allows you to move money around the world without the need for banks, payment processors, or other middlemen. There are few parts of the world that haven’t been touched by Bitcoin, and there are many countries where Bitcoin is especially prolific. Let’s take a look at five Bitcoin hotspots.
The United States
Bitcoin is extremely popular in the United States. A recent report from DataLight shows that, among the 100 most popular exchanges, there were 22 million visitors from the United States each month. Although American regulations have made it difficult for new cryptocurrencies and startups to establish themselves in the U.S., that hasn’t turned American investors off of Bitcoin at all.
Japan is responsible for more than 6 million investors who use crypto exchanges each month. The country is also at the forefront of crypto in many ways: Japan is the supposed birthplace of Bitcoin’s anonymous creator, Satoshi Nakamoto, and it was also home to the first ever Bitcoin exchange, Mt. Gox. Although Japan is tightening its cryptocurrency regulations, it’s still very big on Bitcoin.
South Korea is another Bitcoin hotspot. It provides exchanges with 5.7 million visitors each month. Sometimes, Bitcoin is in high demand among Korean investors, meaning that Bitcoin is often sold at higher than usual prices. Currently, South Korea is introducing strict exchange regulations, but it has also declared Busan a regulation-free zone, which could attract new crypto startups.
Although Venezuela isn’t responsible for a lot of exchange traffic, Bitcoin is very popular in the country. That’s because Venezuela is experiencing hyperinflation, and cryptocurrency provides a way for citizens to escape the Venezuelan Bolivar’s falling prices. Venezuelans largely prefer Dash, a Bitcoin competitor, but Bitcoin is popular in its own right—though the exact numbers are up for debate.
Like Venezuela, Singapore doesn’t have a large number of exchange users, but it does have plenty of Bitcoin adoption and innovation. Singapore’s merchants are enthusiastic about Bitcoin, and they have held events like “Token Day” to celebrate the anniversary of Bitcoin. Singapore’s favorable regulations also make it a fertile ground for crypto startups, according to many news sources.
Bitcoin Around The World
We’ve provided just a small survey of worldwide Bitcoin activity. Since Bitcoin is anonymous, and since most exchanges don’t publish data, it’s hard to say just how much activity each country sees. However, Bitcoin is a worldwide success. With over $10 billion worth of Bitcoin trading each day, almost every country in the world has a noticeable Bitcoin presence.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.