Asia’s Appetite for Cryptocurrency is Just Getting Started

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May 26, 2018 by
Asia’s Appetite for Cryptocurrency is Just Getting Started

5 Reasons Why Asia Has the Next 100 Million Users For the Crypto Asset Economy

The Cryptocurrency market is looking for new investors to help stabilize the market. New retail users are vital for the long-term stability and growth of the cryptocurrency exchanges. Companies launching ICOs are looking worldwide to find new investors for the rapidly evolving crypto asset economy.

Where are the next 100 million users in the crypto asset economy? A lot of technology companies are now looking in Asia to find them. Asia has several reasons why it’s the ideal region of the world to expand the cryptocurrency user base successfully.

Top 5 Reasons Asia will add 100 Million Users to the Crypto Asset Economy.

1. Population Density Statistics

The current population of Asia is 4,540,732,007 as of Thursday, May 24, 2018. This number is based on the latest United Nations estimates. Asia’s population accounts for 59.66% of the world’s total population.

In 2016 more than 60% of the 600 million Southeast Asian population didn’t have bank accounts. Less than 5% had credit cards. The current demand for digital alternatives is still very high.

A significant portion of the Southeast Asian population receives paychecks from foreign countries. Cryptocurrency use significantly reduces foreign transaction fees. Transaction fee savings will encourage a far higher number of early adopters within the Asian population.

2.Early Cryptocurrency Adoption Rate

Japan embraced Bitcoin early on. It was the first country in the world to accept Bitcoin as an official form of payment. Japan’s decision with Bitcoin in late 2017 is paving the way for other countries in Asia to follow suit.

Morgan Stanley reports that Japan, South Korea, and China account for the majority of the global cryptocurrency volume exchanged on a daily basis. The general population in Asia holds more funds in cryptocurrency coins versus converting them back into a fiat currency.

More than one-third of South Korea’s salaried population invest in cryptocurrency. Each investor has approximately $5,000 in different crypto coins. South Korea is the third largest market in the world for trading cryptocurrency.

3. Preference for Riskier Investments

The Japanese population prefers riskier investments. Unlike the western region of the world, the Japanese prefer speculative investments with a higher upside than a long-term investment with a lower downside.

 Asian cryptocurrency investors look for quicker gains right away. Investors typically don’t want to diversify their portfolio with the goal of small consistent returns over an extended period as Americans do. It is far more popular taking a risky gamble with the chance of a huge payout.

4. Huge Demand for More ICO Token Offerings

Retail and Institutional investors want more ICOs available faster on the exchanges. There is more investor participation in initial token offerings on exchanges open in Asia. Investors are not interested in the viability of the technology behind each ICO listed. They care more about short-term investment upside than long-term company growth.

Existing technology companies are open to having Reverse ICO tokens to raise money for an existing established entity. This interest is mainly due to the massive demand for more altcoins.

5. Government Support

The governments in Japan, South Korea, Hong Kong, and even China have all shown varying levels of support for cryptocurrency. While exchanges and ICOs have a ban in China, the government is evaluating ways to incorporate cryptocurrencies legitimately with Chinese government agencies.

The future is never certain, but it’s clear the Asian market has a potentially tremendous upside for individual investor growth in cryptocurrencies. At the recent Token Summit, Nick Tomaino even said: “It could be argued that Asia is kind of the most important part of the world in terms of cryptocurrency.” It will be interesting to see what growth Asia will contribute to the crypto asset economy over the next five years.

We’ll be sharing more posts like these as we launch, an exchange built to service all types of traders and their complex needs. Feel free to tweet to or follow @hybridblockhq on twitter.


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