06.12.2021

Russia is in the TOP-3 countries by the number of cryptocurrency users

According to TripleA research, the number of cryptocurrency users worldwide has exceeded 280 million, with the largest increase in India.

Thus, there are currently over 100 million digital currency users in India, or 7.3% of the country’s population.

As for other countries, there are 27.4 million cryptocurrency users in the United States, 17.3 million in Russia, Nigeria is in fourth place with 13 million, Brazil is in fifth place with 10.3 million users.

Interestingly, the total number of cryptocurrency users from the US, UK and Russia (48.2 million) is more than half that of India.

At the same time, the number of businesses accepting cryptocurrency as a form of payment has grown to 18,000. The report lists top brands such as fast food chain Burger King, travel company Expedia and e-commerce platform Rakuten, which now accept cryptocurrency payments.

Overall, the global adoption of cryptocurrencies accelerated in 2021 amid increased investment from large organizations, leading to increased interest in digital currencies.

In addition, the restrictions during the pandemic pushed most people to switch to digital currencies as they are seen as a store of value. With the devaluation of fiat currencies, cryptocurrencies are also becoming a hedge and an alternative to gold.

India has seen a major shift in digital currency use in recent months, with small towns emerging as new hubs for digital currency investors.

This is due to the large number of young people who are increasingly immersed in digital technologies and seek with their help to overcome the economic shocks caused by the coronavirus pandemic.

In recent years, the Indian crypto industry has developed rapidly, despite the rather tough attitude of the authorities. True, the government recently promised to take into account the interests of the crypto community in such a way as to overcome risks and benefit from innovative technologies.

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