The technology behind blockchain and cryptocurrency is built on a trustless platform. Hence it is a web transaction that cannot be traced, and we cannot know the exact amount of investment that individuals have. Most people believe the amount of crypto coins available today is a hoarse. They believe that cryptocurrency funds, exchange and mining firms play the role of whales in the industry, capitalizing on the trustless platform of the technology and using it to control small investors.
While there are whales in some cryptocurrency projects, it is not true that exchanges and mining firms play the role of whales in the market. And what better way to know than to check their user base data. Most of these exchange and mining firms have data like country and IP address of their customers. And from these data, one can conclude that through the collective investment in cryptocurrency by residents of different countries, they have placed these countries on the map. Even though cryptocurrency still have a long way to go in terms of global acceptance, one cannot deny that these investors are have contributed to the level that we are in today. I have taken my time to write about the top 5 of these countries.
The United States
The United States is home to a lot of cryptocurrency exchanges, mining firms, trading platforms and blockchain oriented companies. It is also the number one country on the global scale of the installation of Bitcoin ATMs with over two thousand (2,000) Bitcoin ATMs installed as at December 2018. All these activities and endeavors could only mean one thing, the American population accepts cryptocurrency. Well, it depends on what we mean by population though, because only 8% of the American population is said to be holders of Bitcoin alone. This of course is a big deal, considering the population of Uncle Sam’s country.
If there is anything on cryptocurrency that China has been in the news for, it is the constant crackdown on cryptocurrency activities. But that is just the story of the Government of the people of China as the country is still one of the leading countries in terms of digital currency trading. It some of the world’s leading exchanges and the citizens in this country are known for their mining activities. It is generally believed that most Chinese miners tend to move their residential houses and offices closer to power plants because it is cheaper in terms of cost to mine cryptos. Also, recent trends reveals that Chinese government are working on various blockchain technologies, one cannot tell if the crackdown will continue, but the investors will definitely reduce if it does.
Romania is home to numerous programmers and developers who are mostly freelancers. It also plays host to many firms and businesses that are big players in the IT industry. It therefore won’t come as a surprise to anyone that it has a lot of investors. About 12% of the residents of Romania are said to be holders of at least one cryptocurrency, and guess which cryptocurrency is the most important… Bitcoin.
South Korea is the second Asia country on this list. Unlike China, the government of South Korea is not hostile towards cryptocurrency. Most people say that the crackdown of China on cryptocurrency caused the drift of investors from the country to South Korea. South Korea is a country with eyes for the technological company, hence it plays host to lots of exchanges and cryptocurrency businesses. Most of the exchanges in South Korea are restricted to the country alone, this means that there are enough investors. As always, Bitcoin is number one on the list of the most held cryptocurrency in this coutry.
There is a large number of acceptances of cryptocurrency in Japan. It is one of the few countries that has recognize cryptocurrencies as an institutionalized means of payment. This has in some ways increased the number of investors in this country as there is little or no restrictions that stops them from engaging in cryptocurrency market transaction within and outside the country. The exchanges in Japan are known for the swiftness in which they process transactions.