Crypto Retail Adoption Is Increasing All Across The World: Report

Crypto retail adoption seems to be increasing all around the world since many of the retailers started accepting payments in cryptocurrency and hot spots are emerging faster than ever so let’s read more about this in the crypto news today.

The areas in which crypto usage seems to be growing the fastest and it is most concentrated remain in the US and Europe but the data also shows some notable growth in some other areas that have a lot more to gain from the crypto retail adoption. Cryptocurrency is not rising quite as quickly as some would expect but to no mistake, more people are using digital assets now more than ever.

One serviced that provides information about retail adoption shows how fast the growth is occurring all over the world by creating a heat map. The map of crypto-friendly businesses by Cryptwerk breaks down the rising interest in the technology by each continent. The activity seems to be mostly focused on aournd metropolitan hubs. If you guessed it, the United States and Europe have the highest density of businesses that accept crypto payments. London, Amsterdam, New York, LA, Seattle, Miami, and Austin are all in particular hot spots for retail adoption.

Switzerland as well as a progressive stance on blockchain technology and also showed some high numbers. Puerto Rio or now known as the new Blockchain Island, is also densely populated for the size of its territory and became much friendlier to crypto businesses. The growth in Asia is mainly driven by Singapore, Bangkok and Hong Kong and the same goes for Australia where Melbourne represents the most crypto-friendly city.

Africa starts to get a little bit more involved in crypto adoption and saw some increase in the number of businesses accepting digital assets. South Africa and Nigeria become crypto hubs while Africa, in general, suffers from the main issues that Bitcoin usually addresses. These include high inflation, lack of banking and a high level of corruption. It is not surprising however but it is encouraging to see such growth in the African states.

In South America, the metropolitan hubs of the region show significant growth mainly in Brazil. Outside of Brazil, there is a high adoption in the likes of Argentina, Chile, and Peru. CoinMap shows a more detailed look at crypto-friendly business by area and it shows that Venezuela is being one of the most important areas in South America for crypto adoption. There are more than 155 businesses that accept digital asset payments and the nation is often linked with crypto usage because of its issues with hyperinflation and poor economic situation.
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