Turkey & Latin American leads the way amongst the cryptocurrency users
The cryptocurrency market is expanding across the globe at a rapid pace, and so are the cryptocurrency users or traders. The best part is, recent trends show that cryptocurrency users have increased in those countries, where one least expects to. A recent study conducted by Statista Global Consumer Survey deplores the consumer's perception of different aspects, and cryptocurrency is one of them. In fact, one question in the questionnaire was related tocryptocurrency.
The outcome of the survey from Statista is quite startling. As per the survey results, the users belonging to the minority groups of the Latin American Region are the highest users or owners of cryptocurrencies.
Let’s have a quick look at the key findings of the survey:
1) Five countries out of the top ten Latin countries who are the highest users of cryptocurrencies are located on the southern border of the United States.
2) A startling 18 percent of users from Columbia and Brazil agreed that they own digital assets.
3) 16 percent of respondents from Argentina accepted that they have invested in digital assets, while the same figure stood at 11 percent for Chile.
Most of these countries are affected by hyperinflation, which has forced the merchants to accept digital currencies for trading. This justifies why Latin American users are gaining on the cryptocurrencies.
If you consider a single country and not a region, then Turkey leads all the way followed by Brazil. Turkey has amongst 20 percent of respondents who have digital assets, which is highest amongst other nations.
Turkey, as well as the Latin American regions, are heavily hit with inflation, which has forced merchants to trade with cryptocurrencies instead of fiat currencies.