4 Best Countries Tipped To Pick Up the Bitcoin Craze - MnTrendsNews

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Tuesday, 28 November 2017

4 Best Countries Tipped To Pick Up the Bitcoin Craze

The world is going crazy for cryptocurrencies, particularly Bitcoin.
If investors in the West are intrigued by it,  those in South Korea and Japan have succumbed to it.


Once you go bitcoin, you never go back.

Two countries that have embraced this new world order of Cryptocurrencies is Japan and Korea; South Korea.
70% of transactions of BTC is in Yen or won.  While neighbouring countries are trying to keep up with the frenzy, these are the 4 most likely nations to catch the crypto fever. 
            

SOUTH AFRICA

To Identify emerging markets,  Google Trends is your friend. While it's  data shouldn't be read as absolute,but it shows the pockets of interest in the region. For the term' Pay with Bitcoin' South Africa has proven to be intrigued by all things crypto. It also ranks 4th Globally for the term 'Buy Bitcoin' in the last 90 days with Nigeria and Ghana being African countries ahead of it.

For cryptocurrency to flourish in a country, it requires 2 things; Public Interest and a favorable regulatory environment. 
And South Africa passes both. It's government speaks of giving a 'balanced approach' to the currency,  and it's second largest supermarket is currently trailing Bitcoin payments. 



AUSTRALIA

Australia ranked 2nd in the 'Buy Bitcoin' and 'Pay with Bitcoin' trend in Google trends. One Australian utilities firm is already processing US $750 000 bill payments a week in cryptocurrency. 

If Australia does go Full Bitcoin, that is if the Reserve bank sees the potential in Block chain, the AUD could start creeping up the fiat/volume chart.

ESTONIA

A tech-loving Land which bills itself a New Digital Nation. With love for the block chain technology, they plan to float their own national cryptocurrency. 

But the Northern  European country has sent mixed signals as regards bitcoin exchanges. Yet, the interest in crypto remains high and has spawned an impressive nunber of fintech startups in the token economy. If the government does open her hands and welcomes Bitcoin formally, we're sure Estonia would be the next market leader in fintech, Block chain and digital ledger solutions. 


VENEZUELA

A dark horse for cryptocurrencies. It's not topping any Google trends list, but the hunger for alternative payments and saving mechanism is there. Yeah, the country hasn't banned BTC, but the police have clamped down on anyone found minting the cryptocurrency.
Not because of the mining itself, but the energy theft that goes on in the mining process.
But who are we to heap blames on them? They are currently experiencing about 700% inflation,Which could get worse next year. 

Sadly, for BTC  to flourish in Venezuela,  living conditions have to deteriorate forcing the impoverished citizens to take action. And if a full blown revolution takes over the already weakened government,  anything could happen. 
Yes, there could be a government whose new national currency is our beloved Bitcoin. 


What do you think?  Who would you tip to take over a world largest Bitcoin market? Drop your comments and subscribe to our newsletter for updates on BTC.

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