rewrite this title Crypto Adoption Surges in Africa While Global Growth Faces Hurdles

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Victoria d’Este

Published: March 26, 2025 at 10:56 am Updated: March 26, 2025 at 10:56 am

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March 26, 2025 at 10:56 am

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Cryptocurrency use is accelerating in some places, but security concerns and limited merchant acceptance restrain global mainstream adoption. Bitget Wallet’s newest Onchain Report offers insights into the geographical dynamics affecting the future of digital asset transactions.

According to a poll of 4,599 users, Africa (52%) and Southeast Asia (51%) dominate in cryptocurrency payment usage, while North America, Oceania, and Western Europe fall behind owing to regulatory uncertainty and privacy concerns. Despite huge demand for cross-border transactions, Latin America has transaction cost problems. These statistics highlight the many variables impacting crypto acceptance in different markets.

Africa and Southeast Asia Drive Adoption

Africa has emerged as the global leader in crypto payment use, with 52% of respondents using cryptocurrency for transactions. Limited access to traditional banking infrastructure and enormous remittance fees have made digital assets a feasible option. Mobile-based financial solutions and peer-to-peer networks help to boost crypto’s influence in the region.

Southeast Asia follows closely, with 51% of respondents reporting using cryptocurrency for payments. Many individuals and organizations use cryptocurrencies to avoid currency conversion fees and reduce the expenses associated with overseas transactions. The region’s digital-first economy, along with a young populace familiar with blockchain technology, promotes quick adoption.

Latin America Faces High Transaction Fees

Latin America has a significant need for cryptocurrency payments, with 41% acceptance, but high transaction costs remain a significant barrier. The usage of cryptocurrencies for cross-border transfers is common, as many people seek alternatives to established remittance methods. However, expenses associated with blockchain transactions, particularly on highly congested networks, discourage widespread use.

Despite these limitations, stablecoins have gained popularity as a solution to avoid local currency fluctuation. The dependence on digital assets in Latin America is projected to grow as options for lowering transaction costs become more widely available.

Privacy and Seamless Transactions in Developed Markets

In North America and Oceania, 36% of respondents choose cryptocurrency for smooth worldwide transactions. This need derives from a desire for more financial independence and efficiency. Businesses that operate globally benefit from cryptocurrency’s capacity to conduct quick and cost-effective cross-border transactions.

Western Europe, with 35% adoption, and the Middle East, with 38%, have differing adoption goals. Western European users are concerned about privacy, but Middle Eastern consumers utilize cryptocurrency to hedge against economic volatility. The regulatory landscape in these regions continues to influence adoption patterns as policymakers evaluate frameworks that balance innovation and consumer protection.

Security Risks and Limited Merchant Acceptance as Barriers

Despite localized success, security concerns remain a major barrier to worldwide crypto acceptance. According to the poll, 37% of respondents view security concerns as a main barrier. Hacking, fraud, and scam incidents all contribute to potential adopters’ hesitation. To establish confidence in the ecosystem, robust security solutions like multi-signature wallets, smart contract audits, and regulatory compliance are required.

Limited merchant acceptance acts as a barrier, with 31% of respondents claiming that the inability to utilize cryptocurrency for everyday transactions limits greater adoption. While some companies accept crypto payments, widespread adoption needs further infrastructure support. Payment processors and point-of-sale systems that simplify cryptocurrency transactions are critical to eliminating this obstacle.

Future Outlook for Crypto Payments

The findings indicate that regional adoption patterns will continue changing in response to local economic situations, legislative reforms, and technical breakthroughs. Africa and Southeast Asia are primed to continue their leadership in crypto transactions due to their reliance on digital assets for financial inclusion. Meanwhile, developed markets may see growth as privacy-focused technologies and stronger security standards gain popularity.

The role of corporations and governments in promoting adoption is critical. Increased collaboration between traditional financial institutions and cryptocurrency service providers might close existing gaps, making digital assets more accessible for routine transactions. As security issues are resolved and merchant use grows, the worldwide landscape of cryptocurrency payments is expected to evolve, opening the path for wider acceptance.

About The Author

Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.

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Victoria d’Este