CJ - Cryptocurrency Enthusiast
A recent survey conducted by business data company Morning Consult in collaboration with Bloomberg and the World Bank found that more than half of the adult populations in Nigeria and Turkey engage in monthly cryptocurrency trading. In addition, India had the highest proportion of persons using cryptocurrencies, with almost 300 million individuals, even though this statistic only accounts for 29% of the country's adult population. China came in second with 93 million active crypto traders, representing just 8% of the country's total population.
The survey also found that one in seven individuals, or 900 million people worldwide, daily interacts with the blockchain ecosystem. This highlights the growing interest and adoption of cheap crypto currency as an investment option.
The few countries that have adopted Central Bank Digital Currency (CBDC) are Nigeria and India. In an effort to promote the usage of CBDC, the Nigerian Central Bank (CBN) recently suggested to outlaw ATM cash withdrawals of more than $225 per week. On the other hand, the Reserve Bank of India (RBI) published a 50-page concept note in October that established a retail CBDC for people and enterprises as well as a wholesale CBDC to streamline interbank operations.
Soon after, the RBI asked eight commercial banks to take part in the CBDC launch testing stage at the beginning of this month. In four cities throughout the nation, the financial institutions include the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank.
However, for those who are new to the crypto market and looking for help to buy cryptocurrency, it's important to do your research and find a reliable crypto broker, such as BCBitcoin. Whether you're interested in trading crypto or simply holding onto it as an investment, there are many options available to you, but it's important to educate yourself and approach the market with caution.