Vietnam takes the lead in crypto adoption (survey)

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Vietnam posted the highest crypto adoption rate in the latest survey in 27 countries around the world.

Vietnam is taking the lead in crypto adoption. Photo: Unsplash

Financial product comparison website Finder.com released its latest crypto report, in which it assessed adoption trends in 27 countries in Europe, Asia, and the Americas.

Emerging economies like Vietnam, India and Indonesia are leading the charge when it comes to cryptocurrency adoption, highlighting important digital asset use cases related to remittances and inclusion financial.

Finders’ latest survey of 42,000 people in 27 countries found Vietnam to have the highest adoption rate, with 41% of respondents claiming to have bought cryptocurrency. 20% of Vietnamese said they bought Bitcoin, the highest of any country surveyed.

While Vietnam’s strong outperformance might seem surprising at first glance, the Finders survey corroborated other data showing that the Southeast Asian country is exceeding its weight in crypto adoption. As Cointelegraph reported in June, Vietnam ranked 13th in Bitcoin gains for 2020, despite only having the 53rd economy in terms of GDP.

Regarding the motivation for buying crypto in Vietnam, the Finder report claimed that payment for remittances may have played an important role in these numbers, with cryptocurrency being an option for migrants who wish to send. money at home and avoid exchange fees.

Adoption rates were also very high across Asia, with 30% of respondents in Indonesia and India claiming to have bought crypto. This figure was 29 percent in Malaysia and 28 percent in the Philippines.

By Finder

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