The Philippines ranks 17th out of 50 countries in terms of Bitcoin awareness.
As the price of Bitcoin rises and cryptocurrency becomes increasingly integrated into our daily lives, certain nations are coping to this new reality more successfully than others. The Philippines, on the other hand, appears to be lagging behind on the awareness scale, according to a recent study.
The crypto opportunity is there for the taking, especially since it is not geographically constrained. However, some countries appear to be rising to the occasion and making hay while the sun shines more than others.
BrokerChooser analyzed their own and other data to determine which nations are better at 'adopting' crypto in order to determine which countries have the highest interest in crypto.
Philippines' position in comparison to other countries
According to this research, the Philippines ranks 17th in terms of crypto awareness, with a score of 2.94/10, trailing nations like as Nigeria, South Africa, Kenya, and India.
Ukraine leads the globe in cryptocurrency knowledge, with a total score of 7.97, followed by Russia, which comes in second with a score of 7.46.
With a score of 6.03, the United States is third, followed by Kenya and South Africa.
The number of crypto owners appears to be largest in India, Russia, and Nigeria, but the proportion of ownership and adoption rate relative to the population must be considered. Even on this metric, Ukraine ranks first, with 12.73 percent of the population using cryptocurrency.
There are 4,360,579 Filipinos who hold cryptocurrency, accounting for 3.98 percent of the population. However, the Philippines' (0.26 percent) adoption rate of cryptocurrency falls well short of that of the United States and Russia (0.627 and 0.931 per cent respectively).
What factors have impacted this ranking?
Over the previous 12 months, key cryptocurrency-related search keywords have played the most important impact in determining total worldwide searches.
'Cryptocurrency,' 'what cryptocurrency to invest in,' and 'cryptocurrency trading' are among the most frequently searched phrases and inquiries.
Data on characteristics such as the number of cryptocurrency owners, the global crypto adoption index, and search frequency were compared to the population of each nation.
A combination of all of these criteria yielded a crypto awareness score, which rates nations based on their population's interest in and understanding of cryptocurrency and its trade.
But don't forget about FOMO.
Despite some economic experts rejecting crypto entirely and defining it as a new form of money fueled by a social phenomena, FOMO (fear of missing out) may well explain what's going on with crypto awareness.
Networking on social media is widespread among cryptocurrency owners, and there is an increase in the number of well-known crypto influencers.
So FOMO, rather than sheer curiosity and ability to participate in cryptocurrencies, may have played a role in increasing crypto knowledge — no one wants to miss out on getting rich.
#SarcasticGamer #SarcasticReview
What do you think of this blog? Write down at the COMMENT section below.
No comments:
Post a Comment