Many countries have learned about crypto and crypto debit cards over time. According to triple-A, a business channel, the number of crypto users will reach 300 million by 2021. Furthermore, crypto experts predict this figure will likely reach one billion by the end of 2022.
At the same time, merchants all over the world are slowly beginning to accept cryptocurrency as payment. Even though cryptocurrencies are extremely volatile, many merchants believe it is an excellent method for transparent transactions.
Crypto debit cards are now widely available to facilitate crypto transactions between merchants and customers. This is the result of crypto issuers all over the world.
Crypto exchange platforms are the most popular crypto card issuers. Payment service providers then follow. Another type of crypto card issuer is membership clubs, such as Club Swan.
Because of the remarkable convenience brought to crypto transactions, crypto debit cards have grown in popularity. For starters, these cards enable converting various types of crypto to fiat.
Even better, you can convert your preferred cryptocurrency to any fiat currency. Any payment made with these cards is received as fiat currency by the merchant.
Most of these cards are supported by processing companies, allowing them to be used worldwide. Union Pay, Visa, and MasterCard are the most popular payment processing companies.
You can buy from millions of stores worldwide thanks to these companies. Not to mention the ability to withdraw money from ATMs worldwide.
Crypto Debit Cards Demand
One of the primary reasons for adopting crypto and using crypto debit cards is to avoid fiat inflation.
This is despite the fact that many merchants do not accept cryptocurrency and that many other countries do not legalize it.
In fact, there has recently been a significant increase in inflation levels. This is due to the Covid-19 pandemic, as well as the war between Russia and Ukraine.
These events have had a significant impact on the prices of most goods around the world. Most people have turned to cryptocurrency as a solution to avoid this inflation.
The market value of Bitcoin is another factor driving demand for crypto debit cards. As the value of Bitcoin increased, so did the popularity of crypto debit cards.
In fact, the Google graph for crypto debit cards mirrors the Bitcoin market value. For example, in 2021, the market value of cryptocurrency reached $60,000, an all-time high. On the other hand, the volume of searches for crypto debit cards has skyrocketed.
13 Countries with high demand for crypto
You can find out the demand for these cards by searching phrases like “crypto debit cards” on Google Trends. African countries are among those with high demand for crypto debit cards.
This demonstrates that, even though cryptocurrency has yet to gain traction in African countries, demand for it remains high.
Some of the countries with high demand for crypto debit cards are:
Nigeria is one of the African countries with the highest demand for cryptocurrency debit cards.
Although the Nigerian central bank has banned cryptocurrency as legal tender, many citizens actively demand it.
In fact, Statista, a German company specializing in consumer data, published a report on cryptocurrency demand in Nigeria. After a few months, the website Usefultips.org, which investigates cryptocurrency utility cases, ranked Nigeria as the first African country with peer-to-peer trading activities.
Paxful and Localbitcoins are two popular marketplaces for peer-to-peer trading in Nigeria. Furthermore, you can ship various crypto debit cards in this country, such as Club Swan.
On Google trends, this the country ranks the highest, with a score of 100 for the phrase ‘crypto debit cards.
2. United Arab Emirates (UAE)
UAE is another country with a very positive attitude toward blockchain and cryptocurrency. This country has recently hosted several international conferences on cryptocurrency, Decentralized ledger technology (DLT), and blockchain.
Furthermore, according to some reports, the UAE authorities intend to establish a zone in Dubai World Trade Centre for companies dealing with digital assets (WTC).
According to Google Trends, the UAE ranked 64th for the phrase “crypto debit cards.”
Singapore is home to many well-known cryptocurrency brands. This country has previously been named the best in the world for cryptocurrency.
However, some crypto-related businesses have failed despite being a home for many crypto brands. Binance is a good example.
Due to the regulator’s requirements, it was forced to close its offices and cease operations in Singapore in 2021. The specifications were stringent and less accommodating.
On google trends, Singapore scores a 57 for the phrase ‘crypto debit cards.
4. The United States
Like Singapore, the USA is also a home for several crypto companies.
Although cryptocurrency usage has been prominent in the USA for some years now, crypto debit cards still remain in demand. This country ranks among the top in google trends for phrases like ‘best crypto debit cards’ and ‘crypto debit cards.’
Canada’s crypto environment is less welcoming. Despite this, Canada has become one of the countries with the highest demand for crypto debit cards.
The country has also become involved in other crypto-related projects. For example, Canada is the first country to use the energy generated by Bitcoin mining.
Blockstream, a company founded by Bitcoin developers, is one of the crypto companies based in Canada.
6. South Africa
South Africa is the second most active cryptocurrency country. In contrast to Nigeria, the South African central bank has regulated the use of cryptocurrency in the country.
Club Swan, Uquid, and other crypto debit cards are available to South Africans.
7. New Zealand
New Zealand inhabits some of the fastest-growing crypto communities in the world. Even though there are crypto issuers based in the country, most of the crypto debit cards get shipped to the country.
In many ways, Australia is similar to New Zealand in terms of the crypto community. Also, the crypto regulations are pretty much similar. If you are an Australian, you can apply for the local crypto debit card, the Coinjar card.
Alternatively, you can order international cards like Club Swan, Wirex, etc. After successful confirmation of your details, these cards will get shipped to you immediately.
9. Hong Kong
Technically, Hong Kong is a part of China. However, the approach to cryptocurrency widely varies from that of China. Despite the crypto ban in China, Hong Kong has continued to bring up crypto and blockchain start-ups. A good example of a blockchain start-up is Input Output (IOHK).
10. The United Kingdom
The United Kingdom is the leading country for globally known crypto brands. Some of these crypto brands include Club Swan, Uquid, Monolith, Wirex, Cryptopay, and Revolut.
It not only ranks high on Google Trends for ‘crypto debit cards’ but also ‘the best crypto debit cards.
It scores a 33 for the keyword ‘crypto debit cards.
The Netherlands ranks 44th for the search phrase “crypto debit card.” This is despite the strict crypto-handling regulations.
The Netherlands is a small country of about 17 million people. Despite its small population, it is one of the top countries in terms of demand for crypto debit cards.
If you are a Dutch citizen, you have a variety of crypto debit cards to choose from. Club Swan, Crypterium, Cryptopay, Coinbase, and Adycash are among the crypto debit cards available.
Despite the fact that cryptocurrency is illegal in India, it is one of the top countries for crypto debit cards. Indeed, due to India’s large unbanked population, crypto experts believe it is an untapped market.
As a result, most experts believe that India will be interested in crypto and crypto debit cards in the future. India currently ranks 25 on Google Trends for the phrase “crypto debit cards.”
Crypto enthusiasts in India have a variety of crypto debit cards to choose from. Crypterium, Wirex, CryptoPay, Raxcard, and other crypto debit cards are examples of these debit cards.
Like the other European countries on this list, Germany adheres to Europe’s broader crypto regulations.
If you are German, you can choose from various crypto debit cards. AdvCash, Wirex, Cryptopay, and Binance are a few examples.
On Google Trends, this country ranks 12 for ‘crypto debit card.
As the crypto industry continues to evolve, it will certainly increase the crypto demand worldwide. Also, as new countries continue to adopt crypto, the demand for crypto debit cards in these countries will boom.
Image Courtesy: clubswan.com