Binance, the world’s largest cryptocurrency exchange by trading volume, is used by investors from all over the globe. But which countries use Binance the most?
According to data from SimilarWeb, a website traffic data and analytics company, Binance is most popular in Nigeria, Vietnam, and Russia. These three countries account for 8.82%, 5.
27%, and 4.63% of all Binance traffic, respectively.
Nigeria is Africa’s most populous country and has a young, tech-savvy population that is eager to embrace new technologies like cryptocurrency. The country also has a high rate of inflation, which makes cryptocurrencies an attractive investment option.
Vietnam is another Asian country where Binance is popular. The country has a growing economy and a young population that is open to new investment opportunities.
Cryptocurrencies are also seen as a way to hedge against inflation in Vietnam.
Russia is another large market for Binance. The country has a well-developed financial infrastructure and a population that is interested in investing in new asset classes.
Cryptocurrencies are also seen as a way to avoid government control and censorship.
So, which country uses Binance the most? It’s hard to say definitively, but it seems clear that Binance is popular in countries with young populations and growing economies.