Post
Topic
Board Economics
Re: Effects of Cryptocurrency Adoption
by
Gozie51
on 02/05/2023, 16:05:29 UTC


Vietnam has the highest level of cryptocurrency adoption, with China and Nigeria engaging in cryptocurrency-based trade due to foreign exchange policies.


How do you mean by this? The countries you mentioned still not embracing cryptocurrency fully or partially except in terms of population use through VPN or other means but those countries have not openly accepted or adopted its use. For example China is part of the Asian countries like Saudi Arabia that have not accepted the use of cryptocurrency, China has made it illegal to use bitcoin and ban icos. Vietnam also is not considered as countries adopting bitcoin because they only made it legal as an asset but as illegal for medium of exchange. I think that only means you have a choice to hodl and transact on it through exchange conversion or P2P but not generally accepted as a medium of exchange, so its growth is limited and how does it have the highest adoption rate above countries like USA? In the case of Nigeria, the story of adoption is not positive as it is still the case that almost three years, the country ban some crypto accounts linked with the bank. Nigeria has not adopted cryptocurrency but the population is finding their way through transactions on bitcoin and trading. So put your records straight to represent the fact.