Why bitcoin slow growth in Asia
Compared to Europe and North America, is still scanty in Asia by bitcoin, although a large part of the bitcoin trading volume from Chinese. Despite the increase of bitcoin remittance services, but the encryption currency payment in this area has not been sufficiently attractive.
Some countries such as Philippines and Indonesia have from bitcoin transactions inside income, but Philippines is largely rely on remittances, Indonesia is shown on the approval of non interest financing needs of islam. Even so, few businesses are willing to accept encrypted monetary payment, but also did not install the bitcoin ATM machine available.
Bitcoin in Asia
Limit bitcoin is the lack of supervision in one of Asia’s development factors, investors in the investment of money or be used for encryption when conventional transactions will be more cautious. However, bitcoin exchange Coinbase has decided to set up shop set up branch in Singapore, one of the largest financial center in Singapore is asia.
The price fluctuation is the limiting factor, the price change radically to become an unreliable medium. The lack of awareness and education is also a factor, especially the bitcoin is used for underground market and money laundering.
The experts suggest that the encryption currency company if you want to enter the Asian market, the first to do a good job of education, share the potential benefits of the use of bitcoin. For example, compared with the traditional way of lower transaction costs and so on.
As with other areas, need time to increase the encryption currency rate. Bitcoin may be a small step in the Asian mainstream applications, encryption currency enthusiasts think it will happen sooner or later.