Study Shows Soon To Be Banned India Is Second Most Interested Country In Crypto

News BTC

The soaring interest surrounding crypto assets like Bitcoin, Ethereum, and other altcoins, is highly centralized in the United States compared to the rest of the world. However, a new study shows that India ranks second, behind only the US in terms of overall interest in digital currencies.

What’s notable about this new finding, is that the country is expected to make a landmark move in banning its citizens from transacting in cryptocurrencies. Here’s how other countries rank in terms of overall interest, as well as what the rising interest in India means for any potential ban.

How To Get Free Crypto  

US Dominates Interest In Crypto Assets, Top Ten Countries Ranked And Revealed

Bitcoin adoption is spreading like wildfire all across the globe, but nowhere else more so than on Wall Street and the rest of the US. Data supporting the most crypto industry interest stemming from the United States has existed for a long time now, but is once again backed up in a new study.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | How Bitcoin Will Become A “Report Card” On The Government

The US has more than three times the search volume as the next county ranked on the list, reaching more than 7000 queries per day. Interestingly, right behind the United States is India – a country that could soon see Bitcoin and other crypto assets like Ethereum, DeFi tokens, and NFTs all banned.

Below the US and India, ranks the United Kingdom, Indonesia, Canada, Vietnam, Australia, Nigeria, the Philippines, and Thailand to round out the top ten. The rest of the top twenty consists of more European and Asian countries, as well as South Africa.

Explosive Bitcoin growth has governments shaken. Could crypto eventually replace fiat? | Source: BTCUSD on TradingView.com

Why India Banning Bitcoin Is A Very Bad Idea That Could Backfire

With interest so high in India compared to the rest of the world, its government is potentially making a grave mistake if it does choose to pass a law banning the ownership, trade, storage, mining, and more of cryptocurrencies.

Coinbase Banner  

Decentralized digital currencies are censorship resistant, and if stored in a user-owned cold storage wallet, cannot be confiscated. The government will have a hard time prying the assets from the offline accounts of its citizens, regardless of any law it passes.

Related Reading | Domino Effect: Is India The Start Of Weaker Governments Banning Bitcoin?

Bitcoin was created to be used without the need for a third-party intermediary for this very reason. India is planning to introduce its own digital currency, and sees cryptocurrencies currently as a threat.

However, in establishing laws to prevent its spread, the government in India might end up fueling its growth and adoption even further.

Featured image from Deposit Photos, Charts from TradingView.com

Go to Source
Author: Tony Spilotro


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.