Five countries with the maximum cryptocurrency users in 2022
Ever since Bitcoin made its inception it has garnered worldwide interest across countries. Although, despite gaining wholesome popularity still it is striving to get legal status. Where there are countries like Egypt, China, and Qatar that follow the strict ban on cryptocurrencies, there are countries that have made the new decentralized legal in use. El Salvador is one such big example. Since past decades the acceptance of Bitcoin has risen to 800%. Today we bring you a list of some of the five countries with the maximum cryptocurrency users in 2022.
Five countries with maximum cryptocurrency users in 2022
Below are the countries with the maximum number of crypto users in 2022.
Starting with Singapore, there are around 15.6% of people have been exploring crypto trading. The credit for this initiative goes to MAS (the Monetary Authority of Singapore) which gave access to trading in new digital money for investors with a license. Many exchanges have also been green-lit to provide services to crypto tokens in all the cities and states. This makes Singapore the country with the most users of cryptocurrencies.
If you search for crypto funds in Singapore, then you will come to know that Singapore’s central bank has approved an In-Principle license for crypto fund manager Hashkey Group. If you regularly follow the crypto news, then you must have come to know about the Whampoa Group Singapore. It has going to invest $140.5 million through a fund for crypto assets.
Coming to the next crypto-friendly country is Nigeria with 19.4% of people who own cryptocurrency. You will be surprised to know that it is the first country that initiated the search term ‘crypto’ and associated keywords that are recorded despite witnessing the fall in the value of BTC and other crypto assets. The one major reason why Nigeria comes into the list of top 10 crypto-friendly nations is the opening of job opportunities for people in the country.
Next comes Argentina with 18.5% cryptocurrency owners. In the current year (2022) in May, the central bank of the country has come up with strict regulations on cryptocurrency. But that did not make people keep themselves aloof from new decentralized money. Yes, many local financial institutions do not allow any dealings in crypto services.
Many people in Argentina have been searching for an escape route from Peso, for which they are turning to cryptocurrencies. About 1/3rd of Argentines have admitted to having purchased and sold crypto assets once a month, which is double the % of people in the U.S.
Next on the list of countries with the maximum number of crypto users is the Philippines with 19.4% owners. Recently in November, the Union Bank of the Philippines announced the launch of the pilot program for BTC and ETH custody. They have also greenlit the trading services for some retail customers, and have given approval to sixteen crypto trading platforms or say exchanges. This has encouraged the boom in the crypto market.
Last on the list is Thailand with 20.1% of crypto owners. In the current year in November, the most popular stablecoin Tether (USDT) is known to have garnered the major market share of the most traded cryptos in Thailand accounting for 17.3% of the whole market. Apart from Tether, the other mainstream cryptos that have influenced the likes of crypto lovers in Thailand are Bitcoin and Ethereum.