Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: BullTrader on January 16, 2025, 02:21:33 PM
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Crypto adoption has been a discussion every crypto enthusiast should be passionate about. Come to think of it, in the last 10 years, there has been significant progress in crypto integration into everyday life, including finance, transportation, agriculture, medicine, sports, hospitality, etc. In every sector, there's Satoshi's blueprint.
The question is: who is driving crypto adoption? Initially, I thought it was Africa, but here's a recent report by Foresight Ventures, which posits that Asia is currently driving the crypto revolution and is the hub for digital finance.
https://foresightventures.com/research?details_id=71&details_type=research&keyValue=
India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
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Innovation and access to information drives the people when they see crypto newbies earning money and posting on social media. And because we are all looking for opportunities I guess this makes us also wanted to join the crypto race.
I'm from Philippines but crypto and BTC is not well adopted all over but to just few places. But our digital currency wallet that we use to buy in or pay bills are gradually adopting crypto though and people are using our fiat digital cash to buy BTC.
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In my country Indonesia cryptocurrency not fully adopt as payment transaction but have huge increasing amount of cryptocurrency transaction for commodity assets or become trading assets. Government in my country get much benefit after huge increasing amount of bitcoin transaction because get taxes fee each transaction trade at local exchange we must paid almost 0.12% each buy or sell order.
Can't believing million user have trading in local exchange and every month our government earn much from taxes fees transaction without make bitcoin as legal for payment currencies transaction.
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Crypto adoption has been a discussion every crypto enthusiast should be passionate about. Come to think of it, in the last 10 years, there has been significant progress in crypto integration into everyday life, including finance, transportation, agriculture, medicine, sports, hospitality, etc.
I'm going to call bullshit on this.
Agriculture, healthcare? Where is the crypto integration in this?
Other than tokens that scam users with fake ICO promising to revolutionize everything I have not seen one single true crypto integration project anywhere in a decade I have been dealing with crypto.
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Thw growth of bitcoin is making more people to join the cryptospace because they have understood the potential of bitcoin that's capable of aaving their wealth from inflation and also has the capacity to multiply their wealth overtime. Not only in Asia but I believe more people will keep on adopting crypto because it's the new digital asset for the future.
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Thw growth of bitcoin is making more people to join the cryptospace because they have understood the potential of bitcoin that's capable of aaving their wealth from inflation and also has the capacity to multiply their wealth overtime. Not only in Asia but I believe more people will keep on adopting crypto because it's the new digital asset for the future.
You’re absolutely right, Bitcoin is the on-ramp for so many people, and the whole “saving wealth from inflation while multiplying it” thing hits harder when you see what’s happening in economies around the world. But honestly, Asia’s playing chess while the rest of the world is still learning checkers.
Think about it, India’s #1 in crypto adoption, with countries like Indonesia, Vietnam, and the Philippines not far behind. This isn’t just hype; people are actually using crypto here to solve real problems, remittances, hedging against crazy inflation, or just finding better investment options than what banks offer.
Plus, you’ve got tools like Bitget Wallet stepping in to make this whole process seamless. It’s not just about holding tokens anymore. it’s about having platforms that actually help people onboard, trade, and interact with crypto in a way that feels natural. That’s what’s driving this growth, especially in these regions.
Also, remember when Gracy Li said Asia would lead the next big wave? That tweet of hers isnt aging like fine wine.
It’s crazy to watch it all play out as predicted (https://x.com/GracyBitget/status/1734246797131006100?t=XHyyWPUBe2sNBxf-lgAz3A&s=19)
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Crypto adoption has been a discussion every crypto enthusiast should be passionate about. Come to think of it, in the last 10 years, there has been significant progress in crypto integration into everyday life, including finance, transportation, agriculture, medicine, sports, hospitality, etc.
I'm going to call bullshit on this.
Agriculture, healthcare? Where is the crypto integration in this?
Other than tokens that scam users with fake ICO promising to revolutionize everything I have not seen one single true crypto integration project anywhere in a decade I have been dealing with crypto.
One question. What do you think DESCI are for and for agric, you should use Google, new innovations are out daily. https://www.researchgate.net/publication/348812149_Applying_Blockchain_in_Agriculture_A_Study_on_Blockchain_Technology_Benefits_and_Challenges
https://www.agunity.com/blog/the-revolutionary-impact-of-blockchain-on-agriculture-supply-chains#:~:text=Blockchain%20technology%20can%20also%20enhance,need%20to%20connect%20with%20them.
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Innovation and technology are a tandem in the drive of getting out the rat race. And with blockchain and its application to cryptocurrency, the innovation has gotten better in this area of world. I am from Asia, Philippines in particular and being involved in this crypto revolution is very beneficial. The earliest and the most patient are the ones that get the most benefit on this market. And as we all say, the adoption has just started and it was even harder years ago and yet the market and adoption thrived and became faster today.
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Adoption is increasing globally and maybe the regulatory laws are what make the adoption faster/slower depending on the regulatory nature. So whether it is Africa or Asia, the wide adoption will come later and therefore there is no need to fear the future as long as the price is increasing and many people trust Bitcoin.
These articles are inaccurate or do not clearly define the concept of prophecy.
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Asia is leading the way for the cryptocurrency industry and there are now many Asian-based players who are making big names in the global market not to mention that if the western world got SBF of FTX we in Asia got our own Do Kwon of Terraform Labs. And yes the biggest crypto exchange so far Binance was founded by Changpeng Zhao, an Asian man. There seems to be a big bromance between Asians and cryptocurrency and had China not banned cryptocurrency and mining it would be the biggest crypto market of them all. So what drives this interest by Asians on cryptocurrency? I am focusing on one: that love of money and achievement embedded in entrepreneurship present in many Asian culture. Of course, we also got access to the latest technological innovations something many Africans may not have at this time. Gladly, many Asian countries and their governments are now starting to realize the big opportunity this trend present to them and are now moving some parts in order to take advantage of this phenomenon that may of big help to their respective economies and the people.
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If game developers in South Korea, Japan and other countries modify their games so that crypto transactions are possible to be used exclusively for buying in-game stuff. then that will really spark a crypto boom in Asia. Asia has the largest proportion of gamers in the whole world, so this move will do a lot to drive adoption in that particular area.
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Adoptions is is already building momentum, actually the last two years has made a tremendous increase, and we are going to experience more adoptions in 2025. Adoptions is a gradual thing, it was difficult in the early days, back in 2017 or beyond, a lot of criticism on crypto was witnessed, but the story is changing this days, crypto community has greatly improved.
In think that in near future, there will be more awareness, adoptions, and innovations, it will be a global adoptions and we shall see renewed investments interest growth as time progresses.
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One question. What do you think DESCI are for and for agric, you should use Google, new innovations are out daily.
Garbage, that's what they are!
Unlike many of the people here, I come from an agricultural background, my family has been in farming for almost 40 years already, and not substance agriculture but fully mechanized, computerized, with contracts to a major food chain reseller and a major packer, so let me tell you how a token or some crypto would help us, nada to zero!
1 point of humidity in wheat at the end of August is more important for a farmer than all those gimmicks!
If game developers in South Korea, Japan and other countries modify their games so that crypto transactions are possible to be used exclusively for buying in-game stuff. then that will really spark a crypto boom in Asia.
You don't want to know the rules about crypto in South Korea ;D
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Philippines driving crypto adoption? Really? ;D I haven't seen major advancements since the issuance of licenses to various Virtual Asset Providers. Don't count the sudden increase in crypto trading because of the hype brought by P2E games before because that also evaporated as quickly as they came.
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Crypto adoption has been a discussion every crypto enthusiast should be passionate about. Come to think of it, in the last 10 years, there has been significant progress in crypto integration into everyday life, including finance, transportation, agriculture, medicine, sports, hospitality, etc. In every sector, there's Satoshi's blueprint.
The more we go the more the people are getting to know how relevant is cryptocurrency in their daily lives, bitcoin is not what we can not include in crypto to make it a perfect choice, we are seeing how it is being made applicable in our from what we daily do, how there have been ,ore improvements form where we started from to where we are and the next future expectations ahead of us all with cryptocurrency.
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I think that even if Asian countries cannot compete with other European or American countries in the adoption of cryptocurrency, I think if they start adopting crypto, then we will definitely see a big pump in the cryptocurrency world. Because these Asian countries, especially India, Indonesia and the Philippines, have a large population, although not all of the population is connected to information and communication technology, but these countries will definitely have a good impact on the cryptospace.
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
These can be the top countries where most of the people are finding legal ways to make more money and thus they are adopting crypto as one because in crypto trading and investing they can make good amount of money and this is not only limited to these countries but all the people in this world are adopting crypto because they think this is the most beneficial trade or investment ever.
Some are after meme coins to make huge amount of profit in lesser time in this bull run and some might have already left the game before the real take off. Asia is not the main driving force because the main driving force in crypto is not America.
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
I'm from one of those countries and I will say that it's because it has given us a opportunity to make money, simple as that. And we are lucky that our government is not against Bitcoin or crypto, that's why it flourish and many Filipinos are into crypto, doing trading. Although the downside is that many are taking advantage of it and using it to scam.
For top exchanges though, Binance is out of our country, but we can still used our top tier exchange. Although we have our local exchanges too.
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Looks like their definition of adoption is liquidity for trading, hence why more exchanges/volumes mean a higher adoption rate based on the paper published by OP. That's really a terrible metric. I think research like this has been published multiple times too. I wonder why they don't use other metrics to judge the adoption rate. Is it that difficult to figure out a reliable data source or do they simply want the data/conclusion to be biased? Seeing my country on top of the list is a surprise, considering nobody here publicly uses crypto to pay for stuff.
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I'm from one of those countries and I will say that it's because it has given us a opportunity to make money, simple as that. And we are lucky that our government is not against Bitcoin or crypto, that's why it flourish and many Filipinos are into crypto, doing trading. Although the downside is that many are taking advantage of it and using it to scam.
For top exchanges though, Binance is out of our country, but we can still used our top tier exchange. Although we have our local exchanges too.
For top exchange priority by trader actually Binance because listed many altcoin and have huge transaction volume than using local exchange market, not all countries around the world get legalizing for using Binance as exchange market and in my country Indonesia have much benefit by using Binance.
We don't have to pay fees taxes transaction when using Binance as exchange trading than local exchange take around 0.2% fees for taxes transaction not including market fees transaction. For each trading in local exchange in my country Indonesia have to pay until 0.4% each 0.2% for exchange fees and 0.2% for taxes transaction fees.
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The data is likely the number of adopters from a particular country, so we can see some countries with high populations have many cryptocurrency adopters because their numbers are so large... while looking at Singapore, which is only a small country, it is able to enter the list, it is because the country's economic progress is better so that from the few people who adopt it, they play a key role in the cryptocurrency world...
I myself was quite surprised to see Vietnam on the list, even though its population is not more than 10% of India's population... If only China allowed cryptocurrency adoption in its country, perhaps number one on the list for the Asian region would be held by China.
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Looks like their definition of adoption is liquidity for trading, hence why more exchanges/volumes mean a higher adoption rate based on the paper published by OP. That's really a terrible metric. I think research like this has been published multiple times too. I wonder why they don't use other metrics to judge the adoption rate. Is it that difficult to figure out a reliable data source or do they simply want the data/conclusion to be biased? Seeing my country on top of the list is a surprise, considering nobody here publicly uses crypto to pay for stuff.
You are right, these countries are not that modern that the vendors there use BTC as payment for their goods, even in my country people don't deal in BTC so it should not be right to say asian countries are driving the crypto adoption because we are not. I think we are the ones following others like big fish in the compund.
The big fish like America, Russia, Germany, etc. This metric was really bad we need more authentic one from statistics etc. where they have already published the survay and other statictics of which country has contributed more in crypto adoption.
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You are right, these countries are not that modern that the vendors there use BTC as payment for their goods, even in my country people don't deal in BTC so it should not be right to say asian countries are driving the crypto adoption because we are not. I think we are the ones following others like big fish in the compund.
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countries in Asia such as Indonesia only have commodity regulations and nothing more, if you violate those rules, it is included in the violation of transactions so that criminal charges can be committed.
The push for adoption that could actually happen has been done by El Salvador and it has been quite a while and now that America after Trump is inaugurated it may adopt Bitcoin in full or maybe just support the development of bitcoin and crypto.
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Come to think of most, most top exchanges at the moment have Asian origin either by conception or by executives. You mentioned Binance, even it's CEO is Asian yeah? Richard Teng. Bybit, Bitget(Gravy Chen), Mexc, Bingx. It shouldn't be surprising that Asians are leading the charge, their Record are Data are outstanding.
There can be a time when we can finally say that the cryptocurrency industry is Asian (lol) all because of the tremendous acceptance of it in this big region. As many of the players in this industry got Asian blood, they are making their imprints into the global stage and they are making their presence felt everywhere. What we are seeing as of this time can just be the prelude of many more things to come...this is just the beginning and not yet the peak as there are still big opportunities for this industry to flourish and grow immensely here. Well, am Asian too and I am proud of the things we achieved in this arena so far.
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That's true. Asians are meticulous and are open to innovations unlike others. Even in terms of electric vehicle, they're the leading producers with cost effective new Gen tech model daily.. honesty I wasn't surprised..
I will agree with you on this point too because it seems that ASEAN is already running big ad options, but in terms of promotion, Western countries are lagging behind these countries. Moreover, there are still some Asian countries that are not connecting to this cryptocurrency due to misconceptions about it, but I think they will also connect very soon. Moreover, we must not forget that in the case of Bitcoin, this topic is popular with the Japanese person Satoshi Nakamoto.
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Crypto adoption has been a discussion every crypto enthusiast should be passionate about. Come to think of it, in the last 10 years, there has been significant progress in crypto integration into everyday life, including finance, transportation, agriculture, medicine, sports, hospitality, etc. In every sector, there's Satoshi's blueprint.
The question is: who is driving crypto adoption? Initially, I thought it was Africa, but here's a recent report by Foresight Ventures, which posits that Asia is currently driving the crypto revolution and is the hub for digital finance.
https://foresightventures.com/research?details_id=71&details_type=research&keyValue=
Crypto adoption and integration majorly started from the Asian region and maybe the U.S. and with the update of it on news, Africa started working towards it. Though, with a high population adoption into the community. Africans started with the crypto industry mostly after the first bull run of Bitcoin in 2017, 2018, 2019 and which a few made great fortune from it. Few where in the community before this bull run as of that time.
As a means related to financial freedom to anyone with knowledge about it, everything finds it's way in. Money is a legal tender which is generally accepted. With Bitcoin, you can sell it for native fiat, which is generally accepted by the people of that region.
India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
Innovation and access to information are big role in the industry. With out innovation, no new projects will kick off for hunters and investors to come in, with the presences of information, investors will know where they can put in money for more profit, while aiming at minimizing losses (though, losses are inevitable in the system).
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You are right, these countries are not that modern that the vendors there use BTC as payment for their goods, even in my country people don't deal in BTC so it should not be right to say asian countries are driving the crypto adoption because we are not.
It's not about being modern because many people are already familiar with paying from their mobile phones or e-wallets but in digital fiat. Changing the payment to crypto would not change the process for these people that much. This is more on the companies not integrating/allowing crypto payments because it's not that beneficial to them yet.
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You are right, these countries are not that modern that the vendors there use BTC as payment for their goods, even in my country people don't deal in BTC so it should not be right to say asian countries are driving the crypto adoption because we are not.
It's not about being modern because many people are already familiar with paying from their mobile phones or e-wallets but in digital fiat. Changing the payment to crypto would not change the process for these people that much. This is more on the companies not integrating/allowing crypto payments because it's not that beneficial to them yet.
I think it will be beneficial for a 3rd party like us in the Philippines with Coins.ph and now Gcash and Paymaya to have crypto in their digital wallets. So it means Filipino can have crypto->PHP and then pay their bills. So it's a win win for the company as they can charge small amounts and then us using crypto to pay and need not to go out. As usually there are long lines specially we have the habit of paying bills during the deadline itself.
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The question is: who is driving crypto adoption? Initially, I thought it was Africa, but here's a recent report by Foresight Ventures, which posits that Asia is currently driving the crypto revolution and is the hub for digital finance.
https://foresightventures.com/research?details_id=71&details_type=research&keyValue=
is it just me or the link only links me to the homepage of this website? i cant seem to find the article and i wanted to see what was the basis of this conclusion
also i wonder why you thought africa was leading the pack when i barely hear anything from them about crypto is it because of the numbers of active members in the forum are from africa? well individual interests are not the same as national interest
India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
i am from one of these countries and already i can tell you that crypto is not that known nor well accepted here it is not like it is banned or seen negatively it isnt just known by most people
i am surprised hong kong is not on the list when they have been the first one to approve a bitcoin etf
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I am from India, not sure about adoption, but in younger generation pretty much everyone I have met have heard about crypto.
Also, here government has put 30% tax on crypto earnings, so it discourages people to partake in crypto. Before this new tax regime, there was astonishing amount of volume on Indian exchanges, now it has plummeted.
Government should make healthier regulations if they want their citizens to adopt crypto.
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
Im surprised to see the Philippines as part of the list. We may not be fully adoted to cryptocurrency because of lack of support from our government, but we have a strong and active community, and this could be one of the reasons why its on the list.
I think what drives adoption is because the top exchanges have their eyes in the region because of many traders and investors, and they want to tap this huge market.
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countries in Asia such as Indonesia only have commodity regulations and nothing more, if you violate those rules, it is included in the violation of transactions so that criminal charges can be committed.
The push for adoption that could actually happen has been done by El Salvador and it has been quite a while and now that America after Trump is inaugurated it may adopt Bitcoin in full or maybe just support the development of bitcoin and crypto.
The biggest step was certainly made by El Salvador, and after that, many countries legalized crypto, and America is also one of them. With time, the number of countries where crypto is legal is increasing which is bullish for the long term price pump in BTC.
America's President Trump is taking full benefit of crypto and has made billions so far by launching many campaigns and his meme coins and by making trades in crypto. He made himself famous, got votes, and made money he benefited from every move he made in crypto. He was next Elon Musk, and let's see how he took that with time and power.
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It's not about being modern because many people are already familiar with paying from their mobile phones or e-wallets but in digital fiat. Changing the payment to crypto would not change the process for these people that much. This is more on the companies not integrating/allowing crypto payments because it's not that beneficial to them yet.
I agree the difference is not that big, but still, the adoption would be higher, and the use case will generate more products and services because nothing is too problem-free every time a crypto payment is made in a place where it was not before, a problem would arise.
With time, those problems would be solved with new products and services that will generate more income in the economy, too. This will not happen unless the steps are made we don't need many things, and they are not good for us, too, but we still have them.
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I agree the difference is not that big, but still, the adoption would be higher, and the use case will generate more products and services because nothing is too problem-free every time a crypto payment is made in a place where it was not before, a problem would arise.
With time, those problems would be solved with new products and services that will generate more income in the economy, too. This will not happen unless the steps are made we don't need many things, and they are not good for us, too, but we still have them.
Always have problem when adopting cryptocurrency as payment for transaction and looks why any government still not adopted bitcoin as legal currency transaction, but have many advantage when adopting bitcoin as payment way such as how decreasing criminal cases at El Savador since bitcoin adopting as payment way and all transaction transparent if adopting for government transaction.
But if bitcoin can't adopt as legal currency transaction not wrong way any government make bitcoin as their investment assets for the future regarding bitcoin significant increasing price.
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The higher the adoption of crypto currency, the higher its value and market cap will be, which is definitely good news for us. I don't think anyone would think that Asia is driving crypto adoption, which is a bad thing.
I think these issues should be addressed on a larger scale because it seems that only Western countries are increasing these adoptions, especially the USA, which is currently running away from high adoptions. The adoption rate needs to increase further in other countries so that they cannot easily manipulate the market.
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America's President Trump is taking full benefit of crypto and has made billions so far by launching many campaigns and his meme coins and by making trades in crypto. He made himself famous, got votes, and made money he benefited from every move he made in crypto. He was next Elon Musk, and let's see how he took that with time and power.
Hopefully it remains a good driver for bitcoin and crypto, Trump still greatly influences Bitcoin at the moment, but if he only utilizes Bitcoin for his own sake, then he doesn't have any value for the next Bitcoin.
Still we return to the discussion about Asia which is the driving force for Bitcoin adoption.
Until now, no Asian country has fully adopted Bitcoin, this has become very complex and will certainly be adjusted to the regulations of each country in Asia.
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Still we return to the discussion about Asia which is the driving force for Bitcoin adoption.
Until now, no Asian country has fully adopted Bitcoin, this has become very complex and will certainly be adjusted to the regulations of each country in Asia.
Asian investors like crypto and they participate very enthusiastically. China, Japan, South Korea, Vietnam, and India all have a large number of crypto investors, perhaps because they want to seek opportunities to change their lives from crypto.
However, I believe that the acceptance of BTC is driven by the US, and the recent rise in BTC price immediately after Trump win confirmed that. Currently, BTC has been included in the federal strategic crypto reserve fund, which will certainly encourage many other governments to hold their existing BTC, and even continue to accumulate so as not to be left behind in this new wave of finance. The US has activated the game theory and caused every government to dare not stand outside crypto.
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However, I believe that the acceptance of BTC is driven by the US, and the recent rise in BTC price immediately after Trump win confirmed that. Currently, BTC has been included in the federal strategic crypto reserve fund, which will certainly encourage many other governments to hold their existing BTC, and even continue to accumulate so as not to be left behind in this new wave of finance. The US has activated the game theory and caused every government to dare not stand outside crypto.
Yes, the US is currently in the spotlight because of Bitcoin and certainly some policies related to bitcoin and crypto will make some adoption advancements that will have a huge impact on future developments.
Now it remains to be seen how the US will enforce crypto, whether this will be an early adoption that makes the US fully accept Bitcin or crypto, or will it just be that continues to be played.
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this?
The innovation of cryptocurrency provides new economic opportunities in business, but not all of our countries accept cryptocurrency because in my experience, the regulations for cryptocurrency in my place are very strict.
Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region?
In Indonesia, there is a local exchange called Indodax which has a lot of Bitcoin Reserves and Indodax is also a centralized cryptocurrency exchange supported by our government such as BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi) and OJK (Otoritas Jasa Keuangan.
What do you think?
I havn't idea about cryptocurrency because im here for alwasy support cryptocurrency and all about rules cryptocurrency on my place that's bonus because cryptocurrency is decentralized , everyone have acces to do it.
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Hopefully it remains a good driver for bitcoin and crypto, Trump still greatly influences Bitcoin at the moment, but if he only utilizes Bitcoin for his own sake, then he doesn't have any value for the next Bitcoin.
Still we return to the discussion about Asia which is the driving force for Bitcoin adoption.
Until now, no Asian country has fully adopted Bitcoin, this has become very complex and will certainly be adjusted to the regulations of each country in Asia.
Asian countries mostly followed USA and until USA won't adopts it fully and add BTC in to their national reserves till then we might not see full adoption happening from Asian countries. And if Trump make these moves again and again for benefitting himself and his colleagues.
Then the whole crypto community will be angry at him, and they won't vote for him next time I believe Trump knows that, therefore, he will make the crypto community happy by making more positive news.
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
The link is not working can you share some working links to the report, please? Speaking of the Asian crypto adoption, I can say it is more than in the past, and maybe it is more than in Africa, but saying worldwide adoption of crypto is mainly due to Asia, I think, is not right, although I know most of the platforms giving airdrops, giveaways, and money making opportunities to people in the world to establish their platforms are firstly getting their users from Asian side countries or from the east maybe.
In short, they are getting traffic from developing countries because they always want to make free money but don't know how it is contributing to the adoption of crypto, as they are included, but most of the crypto platforms are not made in these countries, so please share a link to get more information on this matter.
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I am from India, not sure about adoption, but in younger generation pretty much everyone I have met have heard about crypto.
Also, here government has put 30% tax on crypto earnings, so it discourages people to partake in crypto. Before this new tax regime, there was astonishing amount of volume on Indian exchanges, now it has plummeted.
Government should make healthier regulations if they want their citizens to adopt crypto.
this will probably make people hide their crypto assets and not trade on warizx instead. there are several exchanges where Indians can get away trading in crypto especially the dexes. they certainly are not going to make good amount of tax collection from crypto if they are to implement this tax law.
i think our country banned binance also but we found ways to install the binance app since its still accessible through the binance app. and t hen we just use the p2p to trade our coins to fiat.
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I am from India, not sure about adoption, but in younger generation pretty much everyone I have met have heard about crypto.
Also, here government has put 30% tax on crypto earnings, so it discourages people to partake in crypto. Before this new tax regime, there was astonishing amount of volume on Indian exchanges, now it has plummeted.
Government should make healthier regulations if they want their citizens to adopt crypto.
30% tax in crypto is absurd, its just the same as discouraging their people to not use crypto all and with that amount its as if crypto to people always gain profit. :facepalm:
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I agree the difference is not that big, but still, the adoption would be higher, and the use case will generate more products and services because nothing is too problem-free every time a crypto payment is made in a place where it was not before, a problem would arise.
With time, those problems would be solved with new products and services that will generate more income in the economy, too. This will not happen unless the steps are made we don't need many things, and they are not good for us, too, but we still have them.
Yes, at least there is development in its adoption, rather than being stuck and facing many restrictions everywhere. Well, at least this is pretty good news and it would be much better if many countries in the areas are aware of the success of crypto so far, and their excessive anxiety can really be suppressed. Indeed, there needs to be education and continuity. So at least it will be much better for the future, for the readiness of a much more existential crypto space with high awareness.
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I am from India, not sure about adoption, but in younger generation pretty much everyone I have met have heard about crypto.
Also, here government has put 30% tax on crypto earnings, so it discourages people to partake in crypto. Before this new tax regime, there was astonishing amount of volume on Indian exchanges, now it has plummeted.
Government should make healthier regulations if they want their citizens to adopt crypto.
maybe they really do not want their citizens to adopt crypto at the end because this kind of greed like you said only will demotivate their citizens to go into crypto or not even be honest about their crypto earnings i would not be surprised if there were people who would hide their earning in crypto and not report it on their taxes just so they do not have to pay this much
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I am from India, not sure about adoption, but in younger generation pretty much everyone I have met have heard about crypto.
Also, here government has put 30% tax on crypto earnings, so it discourages people to partake in crypto. Before this new tax regime, there was astonishing amount of volume on Indian exchanges, now it has plummeted.
Government should make healthier regulations if they want their citizens to adopt crypto.
this will probably make people hide their crypto assets and not trade on warizx instead. there are several exchanges where Indians can get away trading in crypto especially the dexes. they certainly are not going to make good amount of tax collection from crypto if they are to implement this tax law.
Dexes not really, more like p2p. I don't know any dexes where you can trade crypto to fiat.
i think our country banned binance also but we found ways to install the binance app since its still accessible through the binance app. and t hen we just use the p2p to trade our coins to fiat.
Same happened here a while back, binance website was inaccessible but app was working, so people would install an app and use it.
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Yes, at least there is development in its adoption, rather than being stuck and facing many restrictions everywhere. Well, at least this is pretty good news and it would be much better if many countries in the areas are aware of the success of crypto so far, and their excessive anxiety can really be suppressed. Indeed, there needs to be education and continuity. So at least it will be much better for the future, for the readiness of a much more existential crypto space with high awareness.
You make a good point as with this development not only the erros will be solved with time thus adoption will be more but the neighbors will also get the idea to do something in this field. Where there is no knowledge or a single word about crypto those countries will also come to know when they will know their neighbor country is making progress in crypto.
With time, Asian crypto adoption will be the real thing, and with more use cases comes more problems and more solutions and more platforms as in the shape of solutions, we need this.
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Always have problem when adopting cryptocurrency as payment for transaction and looks why any government still not adopted bitcoin as legal currency transaction, but have many advantage when adopting bitcoin as payment way such as how decreasing criminal cases at El Savador since bitcoin adopting as payment way and all transaction transparent if adopting for government transaction.
But if bitcoin can't adopt as legal currency transaction not wrong way any government make bitcoin as their investment assets for the future regarding bitcoin significant increasing price.
Are you saying criminal cases are lesser in El Salvador because they have adopted BTC, how is that? your explanation does not make sense because if criminals their started to use BTC did they stoped doing crimes. You also meant to say transactions in BTC are transparent therefore they are not doing these crimes because their transactions can be tracked.
This is not the right explanation, you should find out what is the real reason of why there is a decrease in the crime rate there, as I did not know if there was. Anyway your point is not making sense here.
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~snip~
India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
When I first read this topic, I immediately guessed that China, Korea and Japan would dominate crypto but in fact it is not. In fact, countries that are not well-known to many people around the world dominate crypto, namely: India, the Philippines, Vietnam, Indonesia, and Singapore.
This is also something very good for countries in Asia and the world because they are able to compete with developed countries for this cryptocurrency such as America and European countries.
I think India and Indonesia like crypto because these countries are in the top 10 most populous countries in the world, so they also have a very large opportunity to learn crypto because their population is also large.
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-snip-
I think India and Indonesia like crypto because these countries are in the top 10 most populous countries in the world, so they also have a very large opportunity to learn crypto because their population is also large.
I live in Indonesia and indeed the Indonesian population is quite large and now in modern times crypto is becoming more known and many young people are starting to know crypto and invest in it.
But this is also related to the regulations set in Indonesia because it is only used as a commodity tool, it should not be more than that.
But even so, crypto still gets a lot of attention from new investors who are starting to enter slowly.
Looking at the current development of crypto in Indonesia compared to previous years, this year crypto has experienced a significant increase with increasing transactions.
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-snip-
I think India and Indonesia like crypto because these countries are in the top 10 most populous countries in the world, so they also have a very large opportunity to learn crypto because their population is also large.
I live in Indonesia and indeed the Indonesian population is quite large and now in modern times crypto is becoming more known and many young people are starting to know crypto and invest in it.
Salam hangat dari saya yang berada diluar benua yang kamu tinggal,
by : Google translate
But this is also related to the regulations set in Indonesia because it is only used as a commodity tool, it should not be more than that.
But even so, crypto still gets a lot of attention from new investors who are starting to enter slowly.
Looking at the current development of crypto in Indonesia compared to previous years, this year crypto has experienced a significant increase with increasing transactions.
I think it's good because for the security of crypto assets too, the tighter the regulation, the safer it is for people who own the assets, especially if they are stored in CEX.
As far as I know, your country also has a local market. Cmiiw
Btw, does Indonesia also have special mining for more Bitcoin adoptions?
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India, the Philippines, Vietnam, Indonesia, and Singapore are among the top countries. So, what factors play a role in this? Innovation, access to information, the will to get out of the rat race, or the focus of top exchanges in the region? What do you think?
I can only think of the technology behind it and its most benefits for countries in Asia which is remittance where India is top of it in Asia, then Philippines, Indonesia and other countries too. Then of course, the regulation which is needed, so are in the government who think that these benefits will do to its people then it will be implemented. Those who think that crypto is only for criminals, launderers, usually those are corrupt countries where they choose to restrict the use of crypto instead of regulating it.