Bitupper about the popularity of cryptocurrencies in different countries
Establishing an accurate picture of where the cryptocurrency is used, and in which countries the activity level is the highest, is a difficult task, since many companies and platforms dealing with cryptocurrency — do not share information about users for a variety of reasons, including protecting the privacy of users or by the nature of their services, which prevent the collection of data on location basis.
One of the indicators of activity can be done based on the volumes of LocalBitcoin, the P2P exchange platform, which unites users in 249 countries and allows them to meet personally or to exchange the cryptocurrency in e-form. For example, the highest growth was observed in the developing countries located in Asia (China, India, Malaysia, Thailand), Latin America (Brazil, Chile, Colombia, Mexico, Venezuela), Africa and the Middle East (Kenya, Nigeria, Saudi Arabia, Tanzania, Turkey) and Eastern Europe (Russia and Ukraine). In general, considering the geographical distribution of bitcoin and other ATMs with cryptocurrency, it turns out that 94% of all public ATMs are based in North America and Europe.
Running a full node is another indicator of activity by geographic location. Considering the distribution of complete bitcoin nodes with a time window into one year, it is not difficult to see that the largest number of complete nodes is located in the United States.
The share of cryptocurrency owners by region (based on data from wallets and providers of payment services)
Finally, based on the user data that was aggregated by the incorporated wallets and platforms, you can make the customers separation by shares in geographical terms. Thus, it turns out that almost 40% of users of cryptocurrencies are located in the Asia-Pacific region, while in Europe — 27%. The share of North American users is surprisingly low. However, do not forget that these figures represent only data announced by a limited number of suppliers of wallets and payment platforms and do not take into account the users of exchanges, and also mining pools.
Clearly, the implementation of cryptocurrencies has been most advanced in North America and Europe, but there is increasing activity in other regions: in the relatively fast developing countries of Asia, Latin America, and also Africa and the Middle East.
The above analysis does not take into account the number of users since this information is mostly secret and/or cannot be counted in terms of the type of services that the relevant companies provide.
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