Navigating Regional Crypto Adoption and Impact: A Closer Look

Cryptocurrencies weren’t that popular when they were first created and many people didn’t know that they existed. Times have changed though, and now cryptocurrencies are discussed left and right, they’ve had an incredible boom and don’t seem to show signs of slowing down anytime soon.

We all know about Bitcoin, Ethereum and most people who have been in the scene for a while know about the other most popular options too. Most people however, aren’t aware of the finer nuances of how crypto is adopted both worldwide and in their own home country. Today we’ll be discussing it more in-depth as we believe it’s an important discussion to have.

Crypto Adoption in North America

First let’s cover what crypto adoption looks like in North America. Generally cryptocurrencies are quite popular and have seen a decent bit of adoption with some places even including crypto ATMs and more places than ever online having the option to pay with most well-respected and well-known cryptocurrencies. The legal situation surrounding cryptocurrencies in North America is constantly changing, especially in the USA, as many of the older politicians still aren’t aware of what it is or how it works, so laws are often being recommended and shot down, but some discussion is still better than no discussion.

Crypto Adoption in Europe

The situation with crypto adoption in Europe is a bit different when compared to something like North America. The European Union has quite strict laws regarding user privacy and general online safety so they scrutinized cryptocurrencies quite a bit more, but in spite of this we have still seen a pretty big boom in many countries. Generally countries which have lower average electricity prices were far better hotspots for a crypto boom than others.

Russia is also considered a part of Europe and they have been one of the biggest players in the crypto world as there is an incredible number of people both mining and trading there which is great to see.

Crypto Adoption in Asia

Asia has been a massive hub for cryptocurrencies from the start, which isn’t surprising considering how much of an influence they had on the creation of the concept itself. Asians also were among the first to begin mining on a massive scale, getting warehouses and filling them with rigs in order to get the maximum output possible These kinds of optimizations and fine tuning is what the Asian crypto community does best and it would be disingenuous at the very least to deny what they’ve done for the global crypto scene.

Many innovations were born there and various trends were started. We can’t wait to see what will come from there next.

Crypto Adoption in Africa

Africa is quite unique when it comes to crypto adoption as it isn’t nearly as uniform when compared to the previous places we’ve talked about. This doesn’t mean that Africa hasn’t done a lot for the crypto scene and that there isn’t a decent one over there, it just means that some parts of Africa have adopted crypto, while others still haven’t had the chance either. It’s also nice to see that crypto has had a big impact in certain African countries as it allowed their citizens to have increased freedom and another potential way to earn money which is even more impactful in impoverished countries. Overall we believe that crypto has had a positive influence there, and that Africa has likewise positively affected cryptocurrencies as a whole.

General Crypto Adoption

It’s also worth mentioning general crypto adoption and what globally people think of cryptocurrencies. We believe this is important to discuss as crypto is meant to be a global thing and to pretty much erase borders when it comes to payments. Generally, while some aspects of crypto are frowned upon such as the environmental impact, overall the public consensus is that it’s an interesting technology with a lot of potential, but it will still take some improvements and innovations before the amount of pushback is reduced. We believe that upcoming creations such as green blockchains will have a massive impact on this situation. We also hope that smaller local cryptos will get a shot to shine when this happens.

Conclusion

The adoption of cryptocurrencies is a slow process, but this has been true for everything from cars to ballpoint pens. It takes a while for something to become mainstream, and even longer before society creates an environment where that something is completely and seamlessly integrated with everything else.