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    Take a look at the adoption of cryptocurrency in major economies around the world

    Take a look at the adoption of cryptocurrency in major economies around the world

    Take a look at the adoption of cryptocurrency in major economies around the world
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    By CNBCTV18.com  IST (Updated)

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    SUMMARY

    Crypto adoption continues to surge in emerging economies as people seek the protection of their savings against the devaluation of fiat currency and to ensure the continuity of their businesses. Here’s a peek at some of the indicative metrics.

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    At the end of Q2 2021, the global adoption of cryptocurrency skyrocketed. It touched 2300 percent since the start of Q3 2019 and by 881 percent in the last year alone. Crypto adoption continues to surge in emerging economies as people seek the protection of their savings against the devaluation of fiat currency and to ensure the continuity of their businesses. Here’s a peek at some of the indicative metrics.

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    The first country in the world to make Bitcoin a legal tender: On September 7, 2021, El Salvador made the historic decision of introducing an e-wallet called Chivo to facilitate Bitcoin transactions. According to the latest available report, over 30 lakh people had already downloaded Chivo, which accounted for approximately 46 percent of the country’s population. (Source: triple-a.io / Image: AP)

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    World’s largest share of crypto users (absolute): While the Indian government doesn’t recognize or regulate the crypto market, the popularity of the same continues to rise rapidly. Recent reports indicate that the number of crypto users in India is upwards of 10 crore and form about 7.3 percent of the nation’s population. (Source: triple-a.io)

    3: Ukraine, another former Soviet republic, makes it to the top three after its passport enjoyed close to 70 waivers. (Photo by Skoropadsky/ Wikimedia Commons)
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    World’s highest adoption of crypto (as a  percent of the population): Ranked first worldwide in the per capita adoption of cryptocurrency, Ukraine has over 55 lakh users of crypto that constitute over 12.7 percent of the country’s population. It is also home to several crypto start-ups such as Bitfury, Hacken and Propy, over and above numerous crypto developers. (Source: triple-a.io/ Image: Wikimedia Commons)

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    World’s largest number of crypto exchanges, miners & ATMs: Currently, the USA harbours the most significant number of exchanges, miners, investment funds and crypto ATMs globally. Moreover, currently standing at 2.74 crore, the number of crypto users in the USA comprises 8.31 percent of the country’s populace which is a sizable chunk. (Source: Statista)

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    The country with the highest number of token sales ever: In 2020, the USA grabbed a major chunk of all global token sales with a lion’s share of a whopping 48 percent. Singapore and UK followed 2nd and 3rd with 12.78 percent and 10.5 percent respectively. (Source: techjury.net / Image: Shutterstock)

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    The country with the highest number of crypto ATMs: With 17,436 ATMs in 2021, the USA grabs the top spot for the maximum number of crypto ATMs in a single country globally. (Source: Statista/ Image: AP)

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    The country with the highest P2P exchange trade volume: This observed trend in Kenya is the result of the weakening African currencies. P2P platforms also allow users to make international transactions more cost-effectively as the cost for these transactions is extremely high in Africa. (Source: Quartz Africa/ Image: AP)

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