Asia driving crypto adoption. What do you think?.

[robelneo]

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.

[ZAINmalik75]

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.

[ZAINmalik75]

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.

[bounceback]

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.

[|MINER|]

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.

[taufik123]

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.

[MrSpasybo]

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.

[taufik123]

-snip-
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.

[kai]

....
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.

[ZAINmalik75]

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.

[Faisal2202]

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.

[electronicash]

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.

[PX-Z]

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:

[sampoerna]

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.

[bitterguy28]

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