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2021 was a revolutionary year for crypo: New survey
Cryptocurrencies are as popular as ever and it seems that the entire world is coming together to discuss policies regarding crypto regulation and adoption for the coming years. However, a notable fact to consider is that the year 2021 was when almost half of all cryptocurrency owners in the United States, Latin America, and the Asia Pacific bought crypto for the first time in their life.
2021: A blessing for crypto
As per a new survey that has been conducted by a major cryptocurrency exchange, Gemini, the year 2021 was revolutionary in terms of crypto adoption. The survey involved nearly 30,000 people across 20 countries and was conducted between November 2021 and February 2022 to figure out what drove the adoption of crypto in the last year.According to a report from Reuters, inflation has been a major cause behind crypt0 adoption in 2021 in many countries as they have experienced currency devaluation. It is important here to note that Russia is also going pro-crypto after the sanctions imposed against the nation caused the fiat ruble to crash. The Reuters report further added:
Brazil and Indonesia lead the world in crypto adoption, Gemini found, with 41% of people surveyed in those countries reporting crypto ownership, compared with 20% in the United States and 18% in the United Kingdom.
Mainstream adoption
Another important factor to note here is that 79% of the people confirmed that they own crypto because of the long-term potential. Many people have been holding their crypto since 2021 owing to the surge in use cases and mainstream adoption. The mainstream adoption of crypto in countries can be attributed to the fact that fiat currencies have failed to hold their dominance against the US dollar.Reuters further added:
Only 17% of Europeans reported that they owned digital assets in 2021, and only 7% of those who do not currently own crypto said they intended to buy digital assets at some point.
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