Italy is known for having faced myriads of financial challenges in the past. With the history of the recent past not so glorious, the all-new crypto power seems to have taken the nation by awe. The country’s association with cryptocurrency began a long time ago, but it has only been increasing with time.
At this point, we can certainly say that Italy’s fondness for cash has been replaced by its love for crypto. With most European countries embracing cryptocurrencies with ease, this isn’t a new piece of news at all. However, the relationship between Italy and cryptocurrency is certainly special, and this can be attributed to a lot of reasons. Visit the official Bitcoin Profit site for more information.
Europe’s sick man is unconditionally warming up towards crypto power. This can be ascertained through a variety of ways. Whether we decide to take a look at new merchants accepting crypto payments or the indulgence of the everyday public in crypto transactions, all these factors stand tall to support the claim.
Northern Italy Takes The Lead
Northern Italy seems to have taken the lead when it comes to crypto love. Careful research has helped us understand the Italian demographic and Italy’s cryptocurrency indulgence. Statista, a trusted market data provider, recently revealed certain facts in its study. With growing crypto acceptance, more than 300 retailers now welcome Bitcoin payments with open arms. That being said, Italy will soon be home to around 1% of the globe’s Bitcoin ATMs. What does all of this hint towards?
Italy has been changing by the day, and this isn’t difficult to predict. Buying everyday meals or simple grocery is now possible through Bitcoin in the country. After having faced years of financial hardships, Bitcoin seems to have come as a sigh of relief to the Italian people and their country. Despite the entire country advocating Bitcoin love, Northern Italy shows a more positive graph in terms of crypto growth.
Walking Towards A “Cryptoconomy”
After studying all about Italy’s crypto fad, it can be said that the nation is striving to create a crypto-based economy. Another vital study that poured in earlier stressed the drastically increasing online shopping tendency in Italy. Italians have opened to all tech innovations and excessive online shopping is just the first baby step. However, what’s notable is the amount of Bitcoin expenditure in this online shopping scenario. Italians spent a little more than 40 billion euros while shopping online through Bitcoin by the end of 2018.
There are several preferred modes when it comes to online payments in Italy. However, in a very short period, Bitcoin has reached third place on the list. This is indicative of the fact that the Italian people have lost their initial inhibitions about cryptocurrency, and they are now comfortable using it for day to day tasks. Effective and comprehensive research has demonstrated these results and this isn’t a mere study of trends. At the end of the day, Italy does present itself as an extremely fertile soil that can nourish Bitcoin.
Crypto Payments In Italy
Such excessive and frantic use of Bitcoin in Italy leads to a variety of speculations. It is difficult to measure the exact usage of Bitcoin across the country, and this is another important fact that the study revealed. It is likely that the reality of Bitcoin payments far surpasses the figures noted in the system or brought out in any study. Pecoraro is an old crypto business startup in Italy that has carefully researched the trends and come up with a statement. It believes that the real magnitude of crypto payments happening across the country is extremely difficult to predict.
With startups like Chainblock maximizing their services across the country, Italy’s crypto power keeps reaching new heights every day. The power of Chainblock is undoubted as it helps with ⅘ cash transactions related to Bitcoin in the country. The ATMs introduced by Chainblock helps crypto enthusiasts buy Bitcoin for physical cash. Such ATMs can be found all across Verona, Milan, Roma, Padua, Turin, and several other regions.
In a nutshell, Italy seems to have its A-game on if we talk about the crypto industry. Several other services related to cryptocurrencies will soon expand in the country. It isn’t too optimistic to say that new startups could line up the horizon as well. Where do you think Italy stands in the crypto fad list with its immense love for crypto?
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