Despite the restrictive measures of individual countries, the global adoption of cryptocurrencies is moving forward by leaps and bounds. According to the developer of payment solutions Triple-A, currently 7% of the total population of the world or 562 million people use digital assets. Annual growth exceeded 30%.

Among the countries, the first two places were shared by the United Arab Emirates and Singapore, where a quarter of citizens have experience with cryptocurrencies. This is due to active legislative work, including digital assets in the traditional financial system, and attractive tax conditions. A significant number of crypto projects have chosen these countries for business registration. Here is a short list of notable companies licensed in Singapore:

Also, a high percentage of cryptocurrency recognition is observed in countries with galloping inflation such as Argentina, Venezuela and Turkey.

Fleeing the depreciation of the national currency, citizens turn to digital assets, mainly stable coins and Bitcoin.

Thus, the Argentine peso fell 70% against the US dollar over the year. The difficult economic situation has led Argentina to take first place in Latin America in terms of crypto asset turnover with $85 billion. About 5 million residents use cryptocurrency to make ordinary payments thanks to applications such as Lemon Cash. 

The purchase of Bitcoin on the stock exchange of the same name in March updated a 20-month record, reaching 35 thousand transactions within a week.

The spread of cryptocurrencies is still stalled due to the slow development of the legislative framework in most countries. But even taking into account all the difficulties, digital assets show significant growth against traditional payment instruments.

If from the outside it may seem that the latter are limited in distribution, then this is not so. According to the World Bank, 21% of adults in the world still do not have a bank account. Cryptocurrency is able to close this gap with the proliferation of easy-to-register and use applications for settlements.

StormGain Analytical Group 
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