Why Are Countries Adapting To Bitcoin


Bitcoin is a peer-to-peer cryptocurrency arrangement that facilitates transactions denominated in digital units known as bitcoin. Functioning since 2009, the Bitcoin network has come to dominate and even define the cryptocurrency space, spawning a legion of altcoin followers and representing an alternative to fiat government currencies such as the U.S. dollar and the Euro, and to metal currencies such as gold and silver coins.

Global cryptocurrency usage has increased by 880% in the last year, particularly in Vietnam, India, Pakistan, and other developing countries. The 2021 Global Crypto Adoption Index, titled “Geography of Cryptocurrency,” compared countries’ cryptocurrency adoption based on three primary parameters: on-chain retail value transferred, on-chain cryptocurrency value received, and peer-to-peer exchange trade volumes

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