According To A Gemini Survey, Brazil And Indonesia Are The Global Leaders In Cryptocurrency Use.

According to a study conducted by the cryptocurrency exchange Gemini, nearly 41% of those polled from Brazil and Indonesia owned digital assets. With 20% and 18%, respectively, the United States and the United Kingdom lag far behind.

Gemini, a cryptocurrency exchange located in the United States, polled approximately 30,000 people in 20 countries to determine what percentage of the public had invested in digital assets. According to the findings, Brazil and Indonesia are indisputable leaders, with 41% of individuals polled admitting to owning bitcoin or altcoins.

According to Gemini, countries that have recently experienced a big economic crisis are substantially more likely to acquire digital currencies as a hedge against inflation. For example, 64% of Indonesians questioned believe in the idea.

Crypto’s long-term investment potential is the primary motivator for those who have already joined the bandwagon.

Leading economies such as the United States and the United Kingdom have quite different estimates. There is a 20% and 18% crypto adoption rate, respectively. Furthermore, just 16% of American respondents and 15% of European respondents believed that digital assets are a good financial strategy in periods of increasing inflation.

As a result, Gemini discovered that in 2021, about half of all crypto holders in the United States, Latin America, and the Asia Pacific area joined the market for the first time. Huobi Group reported earlier this year that 7 out of 10 people started investing last year.

The digital asset ecosystem, recent developments, and government attitudes toward the sector in the leading nations from the report – Brazil and Indonesia – are all worth watching.

The largest South American country appears to be considerably kinder than the Asian state. Luizo Goulart, a Brazilian senator, presented a measure in November of last year that would allow public and private sector employees to get their pay in bitcoin.

Eduardo Paes, the mayor of Rio de Janeiro, said earlier this year that he intends to invest 1% of the city’s Treasury in Bitcoin. The administrators of the megalopolis announced last week that citizens would be allowed to pay taxes in digital currencies starting in 2023.

The Indonesia National Ulema Council (MUI) suggested a ban on the usage of cryptocurrency a few months ago, citing Sharia law as justification. The industry was labeled “haram” by the organization (forbidden). Soon after, another Islamic organization, Tarjih Muhammadiyah, issued a fatwa prohibiting the use of digital assets.

The Financial Services Authority (OJK), Indonesia’s primary monetary authority, is likewise opposed to the industry. It banned local businesses from utilizing, providing, or enabling bitcoin services in January.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News