The 2022 Global Crypto Adoption Index

  • The prices of Cryptocurrencies are durable despite losses.
  • Investors are confident that markets will recover.
  • It’ll be fascinating to see what solutions the bitcoin industry creates.

According to statistics, many people who were drawn by growing cryptocurrency prices in 2020 and 2021 persisted and continued to invest a sizeable portion of their assets in digital assets. 

This is also in line with other studies that showed cryptocurrency markets to be remarkably durable despite recent losses. Large, long-term cryptocurrency investors have held on throughout the bear market; as a result, even though their portfolios have lost value, those losses have not yet been locked in because they haven’t sold. 

According to data, these investors are confident the market will recover, which keeps market fundamentals relatively good.

According to income levels and general economic development, the World Bank divides the world’s nations into four groups: high income, upper middle income, lower middle income, and low income. Using that structure, we see that the top of the index is dominated by the middle two groups. Out of the top 20 nations on the list:

Ten countries, Vietnam, Philippines, Ukraine, India, Pakistan, Nigeria, Morocco, Nepal, Kenya, and Indonesia, have lower-middle-class incomes.

Brazil, Thailand, Russia, China, Turkey, Argentina, Colombia, and Ecuador are the eight nations with higher middle-class incomes.

The United States and the United Kingdom are two countries with high incomes.

Users in the lower middle and higher middle-income nations frequently rely on cryptocurrencies to make remittances, safeguard their funds during periods of fiat currency volatility, and meet other financial demands particular to their economies.

Additionally, compared to other nations, these nations favor Bitcoin and stablecoins more. It will be interesting to watch what solutions the cryptocurrency sector develops in the upcoming years to boost adoption in high and low-income nations.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer