A recently released study on cryptocurrencies revealed that over 8% of Americans have invested in them. The same report also shows that South Korea has emerged as the most crypto-friendly country by some metrics. The study is known as The Global Cryptocurrency Market Report and has been conducted by Ibinex.
8% of Americans Said To Own Crypto
According to this study, 8 per cent of Americans own some sort of cryptocurrencies. These results are very surprising since Bitcoin was in the market for just 10 years. At the same time, 21 per cent of Americans are expected to buy digital currencies in the future.
In Europe, the situation looks very similar to the United States. 9 per cent of the population is currently in possession of virtual currencies. Additionally, 25 per cent of Europeans are expected to buy cryptocurrencies in the future.
The results are also very surprising in China. The situation is different there, where cryptocurrencies have been banned by the government. As per the report, 18 per cent of people in the country own cryptocurrencies.
The report has also shown that the United Kingdom is the country with the highest trading volumes in Europe. In Asia, Japan leads the ranks while Iran is a strong player in the Middle East. Argentina tops the South American markets in terms of trading volume as well.
South Korea, for example, is one of the fastest growing countries in the cryptocurrency market. It has attracted an important number of companies and enterprises as well. The government has also taken very restrictive measures for those investing in the crypto space.
There is a special agency that is currently working side by side with the Financial Services Commission (FSC) in topics related to blockchain technology.
Most of the investors in South Korea have invested over $900 dollars in cryptocurrencies. However, the number of funds invested could keep growing in the near future.
According to some reports, the Japanese Yen is the most traded currency against Bitcoin with 42.89% of the total trading volume. It is followed by the US dollar with 40.99% and the Korean Won with 8.09%.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.