Bitcoin Adoption Index Ranks El Salvador, Venezuela, Nigeria Highest

A recent survey conducted by Cornell University has ranked El Salvador, Venezuela, and Nigeria as the top three countries in terms of Bitcoin adoption. According to a report published on September 2 by Bitcoin Magazine, the survey involved around 26,000 people worldwide and measured their experience with Bitcoin and its perceptions.

The report found that countries with unstable local currencies and limited access to U.S. dollars or reliable banking services tend to have higher rates of prior Bitcoin ownership. In these countries, Bitcoin is often used as a practical alternative to traditional currency rather than a speculative asset.

In Venezuela, one respondent noted that Bitcoin is 'faster, safer and less risky' compared to other ways of obtaining U.S. dollars. In El Salvador, another respondent said that 'we all own Bitcoin because no one can control it.'