An increasing number of retailers around the world are now accepting cryptocurrencies. The crypto TMJ are beginning to emerge and become more accessible to the less technologically and economically advanced. As cryptocurrencies are slowly being integrated into everyday life and El Salvador makes Bitcoin legal money, which other countries are best prepared to use cryptocurrencies in their daily lives?
A recent research conducted by the business information website Small Business Prices based in the United Kingdom, examined the 25 countries who are better prepared to adopt digital currency.
As part of the research, the top 66 countries by population. A series of factors were analyzed from January 2018 to March 2021 related to the adoption of cryptocurrencies in some countries, such as uptake, crypto ATMs, internet speeds and search volume of popular cryptocurrencies.
Cryptocurrency searches included the following: Bitcoin, BTC, Lightning BTC, LBTC, Bitcoin Cash, BCH, Ether, ETH, Dash, Litecoin, LTC, Zcash, ZEC, Monero, XMR, Dogecoin, DOGE, Tether, USDT, Ripple and XRP.
Research has shown that the USA is the most prepared country for the adoption of cryptocurrencies throughout the country. They have the more crypto ATMs per person worldwide, and the crypto uptake of the population is above average. The US has already made progress in making digital currency part of its financial offerings, starting with digital currency pilot programs.
Second on the list is Hong Kong, with good internet speeds, technology adoption and predicted search volume for cryptocurrencies. However, with the Chinese government threatening to eliminate bitcoin miners, Hong Kong's position is far from certain.
Third on the list is the Netherlands, which has shown significant possibilities for adopting cryptocurrencies in the whole country. The search volumes reached 50.000 per month, which suggests that the demand for cryptocurrencies and broadband speeds in the country will be a major facilitator.
Of particular interest is the fact that At the bottom of the list are countries like Cambodia, Lebanon and El Salvador. Research has shown that there is little interest in low scores in these countries in terms of adoption. Internet speeds are low, as are crypto ATM numbers.
What factors can make a country ready to adopt digital cryptocurrencies?
They are currently being noted huge increases in demand for cryptocurrencies around the world. The willingness of people to switch to cryptocurrency and the rate of cryptocurrency acquisition are important for the successful development of cryptocurrencies in any country. As well as cryptocurrencies become more mainstream, consumers will begin to accept digital currency as one of their assets more freely.
The volume of crypto ATMs in a country is another key feature for the successful development of the currency.
Internet speeds are also a key factor in the development of cryptocurrencies, as all transactions take place on the Internet. Any country with poor Internet infrastructure will face a significant obstacle to the successful adoption of the currency.
Higher internet speeds and fast, scalable technology will encourage faster adoption of cryptocurrencies in the mass market.
Source of information: zdnet.com