Is Crypto Being Adopted More?
One might think in the state we are at today that pretty much everyone owns at least some crypto right? Now it's mainly about getting those people to use your particular blockchain. This is the new gold rush happening now with blockchains.
The competition is heating up and new names are taking over mainly because of the applications being built on top of them. Places like TON have had massive on boarding from telegram and a telegram wallet running in the millions (while sure I'm sure some and a lot of them are duplicate accounts there's really nothing blocking you from doing so.
In a recent report it's noted that 562 million people have some form of cryptocurrency that they own. This us a massive jump from 2023 which saw 420 million. That's still a pretty small number when you look at this..
But when you compare that to the worlds population of people that readily have access to electronics and the internet which is 5.44 billion it dwarfs it down a bit. I'd put major adoption of crypto at 3 billion people which means we still have a rather long way to go still in crypto adoption.
Lucky for us we have a decent break down of this provided by the site Triple A
This chart for me was actully a wake up call. Seeing that it's only 15.5% of people in the usa kind of blew my mind as it's one of the lowest on the countries! So I can now see why the USA was attacking it for the most part being that they were honestly behind the ball for crypto adoption and it clearly shows that a lot of it is outside of the USA.
What's not shown on this report is roughly how much crypto dollar wise is held per country that might paint a very different picture.
Overall crypto adoption has grown a large amount and I'm unsure if these reports factor in ETFs at all or if it's just real ownership in wallets.
The Integration
Before crypto was mainly a very difficult thing to use and high risk in terms of if you didn't trust yourself. In order to make transactions and hold your own wallet there was a bit of a learning curve to it all. Fat finger or just make a mistake and your crypto could vanish forever.
That's changed in the last few years. With the introduction of ETFs this year and stable coins over the last few years, custodial wallets and more it's become much easier to buy and hold crypto. Now while some cases are not owning it directly and instead are within another wallet that's not really yours there's still the option to do so just like we see with the traditional financial system.
We have also seen grown with places like Paypal, Stripe, American express and Visa. This growth has show a rather large adoption rate as well and I would suspect that credit card companies are exploring options to use crypto as payment with their cards and get their greedy hands on it with another small fee they charge for using their card.
Decentralization Has To Pave The Way
There's really no reason why decentralization has to be complicated. Some amazing projects have come out of decentralization already but there needs to be somewhat accountability on the ends of it which still hold the decentralization aspect.
Places like Uniswap, AAVE and Jupiter could be solid options years into the future as the decentralized aspect of finance becomes increasingly important to people.
Crypto adoption is rise and from the information we gathered here there's still a rather large and long road ahead. We have made huge strides though over the years and I suspect the next 15 years will be much faster
Posted Using InLeo Alpha
Crypto adoption is no doubt becoming more wide spread with the newly launched Telegram and Ton project that are making it easy for people to join the crypto world.
I think this is the beginning of something great because things are becoming more accessible and easy to use compared to the past where complications scare people away from giving crypto a chance.
One thing that needs to be done is to help make the UX easier to deal with. Like my parents had 0.01 BTC each, but didn't keep up with the private keys that I painstakingly explained the importance of keeping up with those 12 words... And the answer can't be centralized custodians.
Another thing is that in the US, the population really needs something to shake it up. Like something bad unfortunately. Something where they can't be bailed out by any other means. That's why I am putting my bet and infrastructure behind Monero. I am also currently downloading my own Bitcoin Core node so I can provide that bit of infra as well because I can't afford to mine Bitcoin.
Next up is a full Monero node and build out a Monero mining farm. And I plan too on setting up a local Hive witness too so I can be in control of my own infrastructure for these networks instead of relying on virtual private servers or something to do the job. That's what really needs to happen. We somehow have to kill the stupid memecoin craze and get rich quick schemes and get back to the old days of people wanting freedom money!
Sorry that got longer winded that intended, lol.
In my local area where people thought bitcoin was illegal when it was first introduced, I am seeing an uptic of crypto ATMs. Regulations seems to have dampened the numbers at the one I used for BTC>LTC>HIVE purchases since it now requires an ID even for small (less than $100) buys. So it seems that there's a gold-rush when a new non-KYC machine is installed, which then peters out when excesive regulations are activated.
I have seen a few popping up in my area too, but they KYC for EVERY transaction, so nope... Not for me.
Localbitcoins closed down last year due to regs, seems that somebody doesn't like the people taking control of their own destiny. Decentralization must be driving them crazy.
Yeah we need to get back to the basics and get some people willing to buck the system a bit more. I am only one dude, 😂
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I guess that TON would mind if they're getting a lot of duplicate and inactive accounts provided they're getting the numbers. Telegram games are doing them a lot of solid.
No doubt Crypto adoption seems to be growing, especially with projects like Telegram and TON making it easier. Simplifying UX and reducing dependence on centralized custodians are very very important if we want wider adoption.
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