Who uses Bitcoin, Monero, Dash, Litecoin?
In 2016 the main use for Digital Coins is speculation but real use cases are growing. So who uses them?
Digital Cash
Putting the "ICO" hyped coins to one side and focusing on Digital Cash coins, in this post I explore their geographical spread and appeal using exchange activity as a proxy for use and adoption.
Exchanges are dominated by traders and whales from all over the world looking for the best price, but I still believe exchange activity is a reasonable proxy for where users are located. If I am in Europe I am more likely to use a European exchange.
So what exchanges are the main Digital Cash coins traded on?
Bitcoin
Bitcoin is dominated by US geographical exchanges followed by China, Russia and the UK. There is however a good spread of exchanges all over the world; Mexico, South Africa, Indonesia, Eastern Europe, Malaysia, Japan, Thailand, South Korea.
Monero
Monero is dominated by US geographical exchanges with very little on other exchanges and a much narrower geographical spread.
Dash
Dash is mainly traded on Russian, Malaysia and US geographical exchanges with very little on other exchanges
Litecoin
No surprise here Litecoin is mainly traded on Chinese geographical exchanges with very little on other exchanges
All data sourced from CoinMarketCap
Very interesting geographical distribution.
Good post. I fully understand what you're talking about. Cryptos will probably go through a more extreme pattern that bitcoin went though. High ups and high downs before it becomes stable. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). I found this great website: https://www.coincheckup.com This site gives a complete analysis and investment stats on every single tradable crypto out there.