In addition to Japan and South Korea, more countries will fall into bitter fanaticism

nCritics of runaway: Now that the world has set off a bitcoin craze, Western investors naturally prefer bitcoin to say nothing. As far as Asia is concerned, Japan and South Korea also very much welcome the use of such virtual currency. And more and more countries will catch up with this trend. This article lists some countries that are ready to fall into bitter fanatics so people can better understand where cryptocurrencies are popular today.n
nTranslation: Inan
Fascinated by the blockchainn
Bitcoin is like a charming beast. First, it was astonishing, and then beckoned to people, opening up the arms of the digital currency to include people. Before you react, you become captive of it and become acquainted with all sorts of incomprehensible terms.n

Bitcoin transaction volume by currencyn
Once in the circle of bitcoin, there is no turning back.n
South Korea and Japan all welcomed this new area. The Japanese are buying and using bitcoin, and Koreans are also making such deals. About 70% of global bitcoin transactions are denominated in Japanese yen or Korean won. Both countries have become leaders in this area, but others are also eager. Although bitcoin is now hot in many countries, the four countries described below look the most likely to be caught in the cryptocurrency fanatic.n
South African
We can use Google Trends to understand this emerging market. Although its data is not absolute, it shows the magnitude of interest in this new thing in the world. Enter “Pay by Bitcoin” and you can see that South Africa is very interested in everything related to cryptocurrencies. It has also achieved “global bitcoin purchases” in the past 90 days.n

On this list, there are two other countries in South Africa ahead of Africa – Nigeria and Ghana. Many in the world who do not have bank accounts live in these countries and many in Africa, including Zimbabwe, rely on family remittances overseas for living, and bitcoin is the ideal way for them.n
Bitcoin is going to flourish in one country and needs to meet two conditions: in the public interest and a favorable regulatory environment. South Africa has succeeded in both experiments. Its government has said it will adopt a “balanced approach” to cryptocurrency regulation and its second-largest supermarket chain is experimenting with bitcoin payments.n

90-Day “Buy Bitcoin” Global Search Trends.n

Australia has discovered the drawbacks of bitcoin, but there are signs that there may still be a frantic bitcoin craze. In the past 90 days, Australia ranked second on Google Trends in “Buy Bitcoins” and “Pay in Bitcoins.” An Australian utility handles $ 750,000 a week in a cryptocurrency bill. This is just the tip of the iceberg, if the RBA sees the potential of blockchain technology, the Australian dollar will soon appear on the chart for the “Fob / Bitcoin” volume.n

Estonia is a technology-loving country that claims to be “a new digital country” and has its own “Global Citizen” e-residence passport. It also welcomes blockchain technology and is prepared to carry out national cryptocurrency programs.n
The Nordic countries are advanced in all aspects and have released a wide range of information on the status of bitcoin exchanges. And Estonia has a great interest in cryptocurrencies, and many financial technology startups have emerged this year in the area of ​​tokens. If its government officially welcomes bitcoin, Estonia will be the leader in financial technology, blockchain and digital book solutions.n

Venezuela is a dark horse in the use of cryptocurrencies. It does not appear on any related Google Trends, but it does interest the new payment and savings mechanisms. Although Venezuela has no intention of disabling Bitcoin, its police are heavily restricting the cryptocurrency mining activities. But the real problem is not mining but the frequent energy theft. However, the country’s inflation rate this year has risen to 700% and may reach 2300% next year. And who can accuse the Venezuelans of trying to get money through mining?n
Unfortunately, the further development of bitcoin in Venezuela will require a further decline in the standard of living of people, forcing the poor to take action. If a mature revolution overthrows the state’s impotent government, then what happens in the future is possible – even if Bitcoin is treated as a new national currency.n
Singapore and some African countries may also be countries swept by bitcoin boom. All countries in the world – developed and developing countries; stable and unstable countries – have all shown interest in Bitcoin. Just as the global balance of power across countries is constantly changing, the same applies to the use of cryptocurrencies. Although Japan and South Korea are currently at the leading edge, the situation is likely to change.n

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