Over 407,000 individuals in Bulgaria have turned to digital assets for investment, according to data from Singaporean fintech company Triple-A. This represents 6.15% of the population who are engaged with crypto wallets.
Among these are both companies that facilitate crypto exchanges through digital wallets and users of various centralized trading platforms.
“In terms of EU countries, we are ahead, which might be more concerning than the public perceives,” remarked Veselin Goergiev, Bulgaria’s manager for the largest digital assets group in the city, VEUR nance.
Georgiev noted that globally, there were four leading countries from different regions – in the UAE, 25% of the population used crypto, while in Singapore, Turkey and Argentina, about 20% were engaged.
“The first two countries are more technologically advanced and have governments that are more supportive of crypto. On the other hand, Argentina and Turkey see crypto as a hedge against hyperinflation,” he explained.
Overall, 562 million people, or 6.8% of the global population, have invested in digital assets, marking a 33% increase year-on-year. Outside the top four, countries like Thailand, Brazil, Vietnam, the United States and the Cayman Islands see 15% or more of their populations using crypto wallets. Among European nations, Switzerland leads with 11.5% of its people investing in digital assets, followed by Slovenia at 9.9%.
Central Romania slightly surpasses Bulgaria, with 6.2% of its inhabitants using digital assets. In general, the use of these assets in Europe is nearly double the global average, at 60.3%.
Key motivations for investing in digital assets include lower fees, integration into the more “traditional” economy and enhanced fraud protection. (Novinite)