There is a key factor that lags behind a country’s movement into crypto sphere: fiat devaluation. For any entrepreneur who’re interested to learn where the best place to thread on in terms of crypto one must take into account the condition of local currency. If currency plummets then it’s time to initiate here a crypto related business: to offer crypto trading services, to consult, to establish Bitcoin ATM.
- Venezuela – is the vibrant crypto country rushing into 2019 year with full energy to adopt the most simplest way to buy and sell Bitcoins and other cryptocurrencies. The most popular cryptocurrencies are Dash and NEO here. One may purchase staples with cryptocurrencies and pay by them. The sovereign bolivar lost 2,400,000% in 2018 year.
- Argentina – relatively stable economy but has 107% devaluation of Argentinian peso. This lead that Argentina’s people are often appearing at LocalBitcoins cryptocurrencies exchange.
- Turkey – Turkish lira lost 39% of its value in 2018 year to U.S. dollar thanks to the U.S. imposed sanctions. The robust economy that is bolstered by the rise in minimum wage combined with low prices on textiles and fruits and vegetables leaves Turkey’s population with free money pouring into cryptocurrencies. In 2019 year Turkey will hold the #1 spot in Europe in terms of cryptocurrencies adoption since every fifth person in this country has already invested into Bitcoin and other crypto assets.
- Pakistan. In 2018 year Pakistan Rupee went down by 26%. This may open a door to the greater adoption of cryptocurrencies in this country. Officially Pakistan bans cryptocurrencies turnover but it’s unreal to prevent local population from buying cryptocurrencies.
- Russia. Russian rouble has lost 19% but for last five years its value dwindled by two times. Now Russians pay about 13% of its online purchases through the cryptocurrencies nevertheless the legal status of such assets are still unclear. As Turkey and Venezuela Russia is under US sanctions and this is another one factor that forces the Kremlin and population to seek ways to avoid negative impact of such restrictions. In case of Russia this factor is going to be a leading one in 2019 year since Washington plans introducing in the first quarter new severe sanctions that may be one of the most hardest in the world history. In this case Russia has to embrace cryptocurrencies for to stay economically afloat.