The latest Bitcoin facts and stats to help you stay on top of the always-changing cryptocurrency trends
A whopping 33% of Nigerians own and or use cryptocurrency, according to recent studies
Would Nigeria have been your first guess as to which country has seen the sharpest increase in Bitcoin users? If yes, you would have been correct. Although Nigeria is much smaller than countries like the United States, or Russia, Nigerians have definitely made their mark in the world of cryptocurrency. A recent study by Statistica states that Bitcoin trading volume in Nigeria alone, was nearly twice as high as that of the eurozone in 2020. According to Bitcoin.com, because of the high cost of sending money across borders the conventional way has caused many Nigerians to turn to local cryptocurrency exchanges catering to overseas workers and their families. Nigerians have even started integrating the use of cryptocurrency like Bitcoin, into their everyday lives. Businesses in the country have been discovered to be adding crypto plugins to their phone payment options.
Female cryptocurrency user growth soars
Nigeria might have the fasting growth of new users, but when it comes to evening out the sexes, Romania and Greece are taking the lead for being the countries with the most female users. That put Europe at the top of the pack for Female growth coming in at 58.55%. After Europe we have the Americas, Including Argentina (98.23%), Colombia (82.03%), and Venezuela (80.23%). According to Coinmarketcap, generally speaking, “While we have consistently seen an increasing number of female users, this segment saw a particularly strong growth of 43.24% compared to the previous quarter”.
In December 2020, eToro reported that women were starting to sign up to their platform at much faster rates than those of men. eToro then reported that while male sign-ups also increased at a rate of 248%, women, on the other hand, saw a staggering 366% rise in sign-ups.
Why such a sudden jump in female interest? Heloise Greef, a researcher at Oxford University has said that "Technology is enabling more women to invest” and "Investing has typically been a preserve for an elite club but now that much of this has been pushed online by the pandemic, anyone with a thematic interest can join."
When people first get started in cryptocurrency, many of them rightfully have no idea what HODLer means. And when they do find out, they are pretty surprised. “ HODL ” is a crypto slang term for the word “hold” so a HODLer is someone that holds onto their currency instead of trading or spending.
All things growth aside, the biggest number of Bitcoin HODLers and where their money lies, remains in The United States. Although among American citizens, cryptocurrency is not as popular as you would think, the big corporations and banks, own a vast amount of cryptocurrency like Bitcoin. So the amount of value accompanied by the number of blockchain projects and bitcoin mining puts the United States at the top.
The next country might surprise you. Due to the large population of foreign residents and the big influence that it has on the tech industry, Romania puts itself higher on the list of the most Bitcoin holders. Fiat paper money is expensive to move across borders, so it’s no surprise that many people within the diverse population of Romania, choose to not only move their money through but also hold onto digital currencies.
China is also a powerhouse player when it comes to holding. The country sees the largest amount of cryptocurrency flowing through its top markets daily, than any other country. But with recent Chinese government crackdowns, it’s not clear as to how much longer this trend will continue. On the other hand, in China itself, the government-created Chinese currency is beginning to take off. Although that might sound similar to Bitcoin, it’s actually not. Bitcoin was created to decentralize the role of currency, whereas the Chinese government digital currency does the opposite.
Next comes Spain, as it has the fifth-largest amount of regular bank ATMs that allow a person to exchange their Bitcoins with fiat currency. The number comes out to 81 different ATMs with the capacity to exchange your Bitcoins. Although more growth in users is hoped for, the approval rating among the Spanish has drastically improved.
In regards to approval and acceptance of cryptocurrency, Japan takes the lead. And not surprisingly it also takes the lead in HODLers. Japan is one of the few countries around the world that widely accepts bitcoin as a legitimate form of payment. Not only that, but it also has one of the best regulatory systems out there. All of these factors work together to place second in the amount of trading volume against Bitcoin, coming after only the United States.