Cryptocurrency adoption rates have never been higher. While it might come as a surprise to the uninitiated, the adoption rates are the highest in 3rd world developing countries. Since many developing countries have high populations (like India), the overall number of crypto users has gone up tremendously over the past few years. 2020 and 2021 had been especially important years for crypto adoption and expansion, with more and more people realizing the benefits of the system. Keeping all these factors in mind, Crypto.com recently predicted that more than 1 billion people will own some amounts of cryptocurrency by the end of 2022.
At present, there are around 200 million crypto users in the world. For the number to increase by almost five times in one year, the adoption rates have to go up significantly. While that may seem unlikely, it can become a reality with governments and tech giants cooperating to develop the field. We can see similar developments now in Dubai with the Dubai World Trade Center. At present, many regions of the world have an anti-crypto jurisdiction, be it partial or complete. Russia, for example, did not ban cryptocurrencies but discouraged their use in many ways. China imposed a total ban on all crypto-related activities. If these countries change their course of regulatory action, achieving 1 billion crypto users by the end of 2022 will not be very difficult. The first half of 2022 will be very important to see whether Crypto.com’s predictions come true or not.