Bitcoin is more than 10 years old and has grown all over the world. However, while in some countries it had very rapid adoption, in others not so much. But how has adoption been in Japan? It’s in Brazil? This is precisely what we covered in this article, at a time when cryptocurrencies are increasingly part of the whole society.
Bitcoin in Japan
The country of the rising sun has a culture completely rooted in technology. Who doesn’t remember the Walkman from Japan? It was one of many gadgets created by Japanese companies that were hugely successful in the West.
The walkman has completely changed the way you listen to music. Sony, Nintendo, Canon, Hitachi or JVC, all are Japanese companies that have revolutionized and continue to revolutionize the technological branch.
Because of all this, Bitcoin easily entered Japanese society. Japan is used to accepting disruptive technologies, and Bitcoin was no different. The cryptocurrency appealed to the Japanese from an early age. and it is not surprising!
Bitcoin is a digital currency with a strong technological component. This cryptocurrency is based on blockchain technology, which makes it so safe and reliable.
For all of this, Bitcoin was quickly adopted in Japan. and we are not talking about its creator, Satoshi Nakamoto, which although it has a Japanese name, is only the nickname of a person (or group of people) whose real identity is unknown. The Japanese have long interacted with cryptocurrencies on a regular basis. The country even had the largest cryptocurrency exchange in the world, Mt. Gox, which in 2014 was news all over the world because, allegedly, 850,000 Bitcoins were stolen, which at the time was worth more than 2 billion BRL !
This scandal was instrumental in Japanese authorities speeding up cryptocurrency regulation in the country, with Japan even one of the first in the world to define a cryptocurrency as a valuable property.
And now? How is Bitcoin in Japan and in the World?
After several years, Japan remains among the countries where Bitcoin is most popular. However, while Japan reached the Top 5 of countries where most Bitcoins were traded, it currently fell some positions according to a recent ranking prepared by Statista on the number of people who have or have had cryptocurrencies.
Among Asian countries, China also appears in the middle of the table, while South Korea is out of the ranking. Japan, despite appearing at the bottom of the ranking, has promoted crypto-economics, and companies that work with cryptocurrencies must be registered in the country, which increases control over this market.
Practically at the opposite end, in second place, is Brazil, where cryptocurrencies are also increasingly popular and where the number of Bitcoin investors has multiplied from year to year.
Cryptocurrency adoption grows in Brazil
18% of the Brazilians addressed in the study in question said they had or have had cryptocurrencies. No wonder. Bitcoin is increasingly a store of value for many Brazilians, who have long since realized how to invest in Bitcoin.
In addition, the growing popularity of cryptocurrencies also makes this a form of payment increasingly used in the country. The number of stores accepting this form of payment is also growing, which increases the demand for these types of assets.
In 2019 the number of retailers accepting Bitcoin worldwide rose 13%, to almost 16,000 stores, according to CoinMap. The same website also indicates that, in Brazil, there are already more than 300 places where it is possible to pay with cryptocurrencies. A number that tends to grow rapidly, as more and more big brands are adhering to this form of payment.
In France, for example, 25,000 retailers are expected to start accepting Bitcoin in 2020, including major brands such as Sephora, for cosmetics, and Decathlon, for sporting goods. Burger King, Starbucks, KFC or Subway have also had initiatives on several occasions in which they accepted payment with cryptocurrencies. Being these big international brands, it is to be expected that sooner or later they will also allow payment with Bitcoin in Brazil.