Possible Reasons behind Crypto trading booming in Asia

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Possible Reasons behind Crypto trading booming in Asia

Post by magic8ball » Sat Jul 28, 2018 1:30 pm

Last year was somewhat the lucky year for the cryptocurrency market. A lot of factors came into play as to how that happened and one that cannot be denied was the contribution of the Asian market.

In fact, the Asian market was among the top markets for cryptos last year as many of the countries embraced it while others in the rest of the world were driving it away with bans and sanctions.

Japan legalized Bitcoin in September last year, which made it acceptable as a legal payment method and officially recognized 11 registered cryptocurrency exchange companies.

It was the first country to accept Bitcoin as a legal currency and this came at a time when other countries around the globe were still wrapping their head around them, whereas some Asian countries such as China were cracking down on cryptos and their trading.

Reports also suggested that crypto investors in South Korea, Vietnam and Japan were responsible for 80% of the total trade volume in cryptocurrencies at the end of November last year.

All these and more showed that indeed the Asian market wasn’t joking around when it came to crypto trading. Well, it is the same old story this year too as nothing seems to have changed. Crypto trading is still flying high in Asia and this can be linked to a couple of reasons.

https://zycrypto.com/possible-reasons-b ... g-in-asia/

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