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❕NEWS A new report shows that East Asia and Africa lead Crypto OnChain activity

B

Balint098

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As reported by Bitcoin.com, Chainanalysis, a well-known crypto analytic firm has published their new report on crypto adoption worldwide. Dubbed "2020 Geography of Crypto," the report details how many crypto transferred on the blockchain, how many deposited, p2p exchange volume and several other statistics. Among 154 countries that participated in the report, Ukraine top the chart, followed with Russia, Venezuela, China, Kenya, U.S., South Africa, Nigeria, Colombia, and Vietnam to make the top 10 countries in which crypto growth is the most prominent.
 
As reported by Bitcoin.com, Chainanalysis, a well-known crypto analytic firm has published their new report on crypto adoption worldwide. Dubbed "2020 Geography of Crypto," the report details how many crypto transferred on the blockchain, how many deposited, p2p exchange volume and several other statistics. Among 154 countries that participated in the report, Ukraine top the chart, followed with Russia, Venezuela, China, Kenya, U.S., South Africa, Nigeria, Colombia, and Vietnam to make the top 10 countries in which crypto growth is the most prominent.
Venezuela is among the top 10 because citizens are looking for alternatives to circumvent the exchange control present in the country, therefore many receive remittances through cryptocurrencies and the same does business with these assets, also due to the very low cost of Electricity makes the country very fertile ground for setting up cryptocurrency mining farms.
 
I know. The fiat money there is currently worthless due to hyperinflation, and many people use foreign money to do daily transactions. Too bad the mining there is restricted to some extents by the government.
 
I know. The fiat money there is currently worthless due to hyperinflation, and many people use foreign money to do daily transactions. Too bad the mining there is restricted to some extents by the government.
Yes, it is much more restricted at the present time by the terrible state of the national electricity system.
Cryptocurrency transactions have been an escape and relief for Venezuelans, a large number that grows every day, turn their gaze to the world of the internet to obtain profits and exchange them for cryptocurrencies.
 
Immediately I read the caption or title of this post I knew the giant of Africa, my country Nigeria will be among. A lot of people i know are into crypto trading now
 
I was expecting Asia to be in yhe top of the list but it's surprising that Africa is also there. I know it's a big country but didn't knew so many people use crypto in that area
 
I was expecting Asia to be in yhe top of the list but it's surprising that Africa is also there. I know it's a big country but didn't knew so many people use crypto in that area
Africa lacks second in the cryptocurrency world . The fact that they are low tier country does t mean that they are not open to innovation
 
It's quite amazing that Africa is also among the countries - this calls for celebration. This obviously state that we're current
 
It's quite amazing that Africa is also among the countries - this calls for celebration. This obviously state that we're current
Ofcourse the state of things in the African countries has made us opened to innovation. It is a matter of time before Africa takes over the crypto world
 
I am from Africa and I am so impressed by the way cryptocurrencies are being adopted here. I am moreso, impressed by my country Kenya. This is so good for us.
 
I am glad more African countries are really involving into crypto currency i just hope it could continue like that ,it would be beneficial i think
 
Exactly me too and I thought Nigeria had the most activity in Africa but it's Kenya , so it's really informative, even Venezuela too was an unexpected name but kudos to them all
Nice report. Never knew that Ukraine was so into crypto that it would top the list. I was expecting countries like Japan or South Korea on top of the list.
 
The Stats might change now with big Europeans coming in expect the order to be fully reveresed in next few months to be honest in NY opinion .
 
A lot of Africans and Asians now see cryptocurrencies as a very big opportunity to combat inflation and make money. It has been a blessing to me though.
 
Venezuela is among the top 10 because citizens are looking for alternatives to circumvent the exchange control present in the country, therefore many receive remittances through cryptocurrencies and the same does business with these assets, also due to the very low cost of Electricity makes the country very fertile ground for setting up cryptocurrency mining farms.
A year later and tye same scenario is happening in Nigeria. Another factor could also be the devaluation of the local currency.
 

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