Bitcoin Grows As It Grows In Japan

The Asian market plays a very important role in the overall cryptocurrency market and still has a fairly substantial share.. Let’s not pretend to generalize, of course, some countries in the Far East are not very familiar with crypto money.. But there is one huge exception: Japan.. While the state’s attitude towards cryptocurrencies is becoming more moderate in Japan, the level of Japanese people’s adoption of cryptocurrencies is increasing.

Miss Bitcoin

Mai Fujimoto, known as Miss Bitcoin on social media platforms, Japan A good example to show how .. Fujimoto says he regularly transfers some of his income to Bitcoin:. Instead of putting all my savings in the bank, I’m turning all my savings into cryptocurrencies.”

Why Japan?

People in places like China and even Korea are fighting the government for cryptocurrencies right now.. The people of China and Korea are very interested in cryptocurrencies, but the attitude of these states towards cryptocurrencies is not considered very moderate.

The fact that China first banned ICOs and then closed cryptocurrency exchanges should be enough to prove that digital currencies are not approached very moderately. .

Korea has recently taken steps to impose a ban on digital currencies in its own way, but there is still a high demand by the public.

Japan, on the other hand, has a completely different approach to Bitcoin compared to these two countries. looking from the angle. Japan announced last April that it accepted Bitcoin as a legal tool, which made it very popular in the country.

Another reason for the development of the crypto money industry in Japan is the bans imposed by China.. The bans imposed by China on companies and individuals related to cryptocurrencies caused these companies to move their businesses across the sea to Japan.

Adoption

Japan stands out again as a business.. About six months ago there were a number of companies trying to integrate Bitcoin as a payment system.. Even salaries in Japan are slowly starting to be paid in Bitcoin. Koji Higashi, a well-known commentator on the cryptocurrency industry in Japan, said:

“The involvement of big companies, the sense of security that comes with government approval, and media promotion have really brought new people to the market.”

Nice Alternative

The central bank struggling with deflation has led to very low interest rates in the country and people are looking for an alternative where they can make a profit with the money they have. Of course, there’s also the good feeling of investing.

However, some people think it’s not about investing, it’s about craziness and popularity.. Higashi added:

“Now everybody else is doing this and I hear they’re making good money.. I should be included. This is pure Japanese thought.. To be honest, I’m not so sure that people buy Bitcoin by rational decision.. It seems more like a short-term irrational madness to me.”

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