Financial product comparison website Finder.com has released its latest
crypto report, where it evaluated adoption trends across 27 countries in
Europe, Asia and the Americas.
Emerging economies like Vietnam, India and Indonesia are leading the
charge when it comes to cryptocurrency adoption, underscoring important
use cases for digital assets tied to remittances and financial
inclusion.
Finder’s survey
of 42,000 people across 27 countries revealed that Vietnam had the
highest adoption rate, with 41% of respondents claiming they had
purchased cryptocurrency. Twenty percent of Vietnamese said they had
purchased Bitcoin (BTC), which was the highest among all countries polled.
Although
Vietnam’s strong outperformance may appear surprising at the surface,
Finder’s survey corroborated other data showing that the southeast Asian
country is punching above its weight when it comes to crypto adoption.
As Cointelegraph reported in June, Vietnam ranked 13th in realized Bitcon gains for 2020 — despite having only the 53rd largest economy based on gross domestic product.
Related: Report: Vietnam's PM asks State Bank to trial digital currency on the blockchain
Regarding the motivation for purchasing crypto in Vietnam, the Finder report claimed:
“Remittance
payment may have played a significant role in these numbers, with
cryptocurrency an option for migrants who want to send money home and
avoid exchange fees.”
Adoption rates were also very high
throughout Asia, with 30% of respondents in Indonesia and India claiming
to have purchased crypto. That figure was 29% in Malaysia and 28% in
the Philippines.
On the opposite side of the spectrum, adoption
rates were lowest in the United Kingdom and the United States at 8% and
9%, respectively.
Each country that was represented by the survey
had between 1,160 and 2,511 respondents. “Due to the varying Google
infrastructure in each territory, not all surveys were nationally
representative,” the report said.
The report also documented
strong adoption trends in many Latin American countries, with 22% of
Brazilian respondents claiming to have purchased crypto. The digital
asset class is growing rapidly throughout the continent due in part to
surging inflation, stricter capital controls and a deteriorating fiscal
outlook. The region is now home to at least two crypto-exchange unicorns, a term used for startups that have achieved a valuation of $1 billion or more.
Related: Latin America’s Mercado Bitcoin exchange raises $200M from SoftBank
source link : https://cointelegraph.com/news/vietnam-leads-crypto-adoption-in-finder-s-27-country-survey
