If there is one thing that has kept the entire planet of its feat in the year 2017, it has to be the Crypto Market. And if you haven’t heard of it, then I guess you well might have been living on a deserted island (just kidding).

Today, Bitcoin is the most popular cryptocurrency. It has taken the world by storm with a growth rate of over 3000% in the past 12 months. People are still finding it hard to believe that a virtual asset has shown such a tremendous growth rate in such a short span of time. Today, the total market capitalization of these assets is more than $500 Billion. Apparently, something too big for just a click of a button.

The state of Asia and Crypto

Hamas Successfully Receives Bitcoin From Binance And Coinbase Accounts Why Is Asia So Important For The Growth Of Crypto Market
Why Is Asia So Important For The Growth Of Crypto Market? 3

When a huge chunk of money is flowing in and out, the Asian countries just can’t stay out of this game. Apart from grossly stereotyping my fellow Asian friends, they are actually good with numbers, finance, and technology, making them the perfect candidate to be a part of this global crypto market. With the crypto market’s growth, people’s interest is also growing at an exponential rate. So, let’s just first analyze the role of Asian countries in the crypto market.

On 27th September 2017, Japan’s Financial Services officially legalized 11 cryptocurrency exchanges. One of these exchanges, ‘bitFlyer’, has more than 800,000 active users trading in Bitcoin every day. On the other hand, it’s China that holds a major pool of the world’s Cryptocurrency miners due to their cheap electricity rates and advanced GPU powers. So, in no way is Asia new to this crypto market. They have already been an integral part of this market.

But what makes Asia so significant for the FURTHER growth of the Crypto Market?

Hamas Successfully Receives Bitcoin From Binance And Coinbase Accounts Why Is Asia So Important For The Growth Of Crypto Market
Why Is Asia So Important For The Growth Of Crypto Market? 4

It is interesting to see that cryptocurrencies are growing at a much faster rate in Asian exchanges compared to their western counterparts. While some people tag it as a gigantic bubble, others see the market as a future for the cashless economy.

All this being said, there shouldn’t be any hesitation in considering the fact that Asia is one of the most important pillars holding the roof of the cryptocurrency market. With its untapped potential, it won’t be wrong to say that we can visualize India, as well as the rest of Asia, as the leading players in the cryptocurrency market for the years to come.

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