Among all the countries in the world, Venezuela is among the three largest nations with the highest number of cryptocurrency usersaccording to a survey conducted by the United Nations (UN) and presented at the Conference on Trade and Development.
The multilateral organization highlights that of every 10 Venezuelans at least 1 has exposure to the cryptoactive market, in this way, about 3 million inhabitants, or just over 10% of the country’s population, have some kind of cryptocurrency.
Data also reveal that ahead of Venezuela are Ukraine with 12.7% of the population that has cryptocurrencies and Russia in which 11.9% of the population has some kind of cryptocurrency. Venezuela is followed by Singapore (9.4%), Kenya (8.5%) and the United States (8.3%).
The 20 countries with the highest percentage adoption of cryptocurrencies in their population. Source: https://unctad.org/system/files/official-document/presspb2022d8_en.pdf
It is interesting to note that Brazil, although it is the country with the largest population in Latin America and where the Mercado Bitcoin exchange house claims to have more than 3 million registered users, is not even among the top 5 for global adoption.
“In particular, in countries facing currency depreciation and rising inflation (triggered or exacerbated by the COVID-19 crisis), cryptocurrencies were perceived as a way to protect household savings. Regardless of the reason for using cryptocurrencies, exchanges play a crucial role in enabling its wider implementation. These exchanges function as clearinghouses, trading conversions between cryptocurrencies and sovereign currencies.“, explains the report.
Also during the conference, the UN declared that nations must work and develop regulations for the cryptocurrency market. The UN further advised that nations they should ban traditional banks from offering cryptocurrencies to its customers, since there is a risk with respect to sovereignty currency of nations.
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