Cryptocurrency acceptance is soaring across the world as more and more investors and plain folk rush aboard the crypto bandwagon. Pakistan, of course, is no exception, and if anything, it has enjoyed quite a bump in terms of bitcoin usage over the previous few years. In fact, it is now one of the top 15 countries in the world when it comes to bitcoin usage.
The Global Crypto Adoption Index report from blockchain analytics platform Chainalysis provides this ranking. Ukraine and Russia are the most crypto-savvy countries, according to the survey, ahead of traditional IT behemoths like the United States, China, and Japan.
African countries also made the top 20 list in a big way. Kenya is ranked fifth, South Africa is seventh, and Nigeria is comfortably eighth.
Pakistan is ranked 15th in the world for digital currency use in Asia.
According to Chainalysis, Pakistan received more than $1.5 billion in crypto-currency last year, with many analysts predicting that it could have been even higher in 2020-21 if transactions were made easy.
Other Asian countries, in addition to Pakistan, have made significant progress toward crypto adoption in the last 14 months. China is ranked fourth, Vietnam tenth, India eleventh, Thailand twelveth, and South Korea seventeenth.
Despite the fact that many nations in the region still prohibit any blockchain-related operations, the Middle East is catching up.
The report’s main findings are that cryptocurrency is now a truly global phenomena, and that poorer countries, in particular, are experiencing high amounts of crypto activity.
