Chainalysis recently revealed that India, Pakistan, and Vietnam dominate the Global Crypto Adoption Index for a second consecutive year. The index rates 154 countries based on their peer-to-peer trading activity, rather than gross transaction volumes.
The index ranks the top 20 countries and provides an objective assessment of whether they have fully adopted cryptocurrency. It does not focus on trading or speculating but rather on cases that relate to personal and business transactions as well as individual savings.
Here's a list of cryptos that are beginner-friendly.
Most of the top twenty nations, including Togo and Colombia, are developing countries. The US dropped from sixth to eighth place while China, which clamped down on cryptocurrency in spring, fell from fourth and thirteenth.
Top 20
Vietnam
India
Pakistan
Ukraine
Kenya
Nigeria
Venezuela
USA
Togo
Argentina
Colombia
Thailand
China
Brazil
Philippines
South Africa
Ghana
RussianFederation
Tanzania
Afghanistan
Global cryptocurrency usage has increased by more than 880 percent over the past year, according to statistics. The rankings have fallen for the first time in a single year. The global crypto adoption index, along with a DeFi index and several geo-specific crypto adoption studies, will be released in the coming weeks.
Asia leads the charge in retail bitcoin adoption. The most significant development is in India, Pakistan, and Vietnam. Emerging nations have seen a rise in cryptocurrency adoption to protect their assets from rising prices.
The top 20 countries ranked highest were dominated by emerging markets in Asia and Africa like the Philippines, Togo and Togo. Increased adoption in established economies like North America, Western Europe and East Asia was driven by institutional investors.
What is Chainalysis?
Chainalysis is an application platform that allows for market research, investigations, compliance and compliance. To encourage financial independence and lower risk, Accel, Addition Benchmark, Paradigm. Paradigm, Ribbit and other top startups capital companies have backed it. More than 60 countries provide data, software, services and research to government agencies and exchanges, financial institutions and insurance companies.
Chainalysis research has shown that the number of people using peer-to-peer P2P crypto exchanges in Kenya and Vietnam has increased by two-thirds over the past year. Research shows that many locals use peer-to-peer exchanges to access cryptocurrencies as their primary gateway. They lack access to centralised exchanges. Many people use cryptocurrency to send and receive money, protect their currency from currency depreciation, conduct business transactions, and send and receive remittances.
Although P2P trading accounts account for a significant portion of bitcoin activity, it is not recorded on the blockchains. The study ranked countries based on peer-to-peer trading volume and lower purchasing power per capita as the priority. The research dropped one metric in 2020: the weighting of the country's deposits by the number online users.
Bitrefill is a company that allows consumers to survive on cryptocurrency by buying gift cards with bitcoin. It has strong representation in Vietnam. The report was prepared by Kim Grauer (Chainalysis' head for research), who claimed that Vietnam topped it. Nigeria is an exception. Grauer says that Nigeria has a large commercial crypto industry. The cryptocurrency rails are seeing more transactions.
According to a new index, Iran, Cuba, Afghanistan and Cuba are the top-ranked countries in terms of crypto adoption worldwide. Analysts believe it is difficult to measure bitcoin acceptance at the grassroots level. Experts predict that sanctions countries like Cuba will suffer from a lower value due to the difficulty of tracking transactions. Experts stated that the technique is vulnerable to fraud.
Brazil and Argentina are two Latin American countries where Decentralised Finance (DeFi), protocols are most commonly used. These two South American nations were ranked 16th and 17th in international rankings, respectively, below the United States, Vietnam and Thailand. This could indicate that cryptocurrencies are accepted at lower economic levels to reduce inflation and transfer remittances easier.
Bottom line
Although cryptocurrency adoption is widespread, regulations are yet to be established and traditional financial professionals remain uncertain about the risks involved. The industry is growing by the day. The unknown aspect of the industry is increasing with new technology and coins being introduced every day. Experts advise individuals to be aware and prepared to prevent permanentlosses.
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Get more fruits and vegetables.
Whole grains are better than refined ones. Brown rice is better than white. Switch to whole-wheat pasta
Consider lean proteins such as poultry, fish and beans.
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Reduce Stress
It can be very detrimental to your health. It is impossible to avoid it all, but there are ways you can reduce the effects. Do not take on too many responsibilities. Set limits for yourself and others. It is okay to say no.
To relieve stress, try:
Deep breathing
Meditation
Yoga
Massage
Exercise
Healthy eating
Talking to a friend or family member.
Develop healthy habits
You can prevent problems from coming your way tomorrow if you make the right decisions today.
Brush your teeth twice daily and floss each day.
Don't smoke.
Limit your alcohol. Limit your alcohol intake to 1 drink per day.
Take your medication exactly as prescribed by your doctor.
Get better sleep. Try to sleep for at least 8 hours. Talk to your doctor if you are having trouble sleeping.
Keep out of direct sunlight between 10 a.m. and 3 p.m.
Wear your seatbelt.
Meng suggests that you take time each day to invest in your own health.
Montgomery was able to see the benefits. Montgomery says that she has overcome health issues, is happy, and has a positive outlook. She says that her life has been forever transformed.
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