The legality of buying and investing in cryptocurrencies differs from state to state, and there are many facets of this investment that continues to stay undefined. Several countries do not call BTC usage illegal; however, different countries look at it differently. Some nations have exclusively permitted its buying and selling, but others have banned it. The way different government agencies and regulators classify it is also different.

Before investing in a cryptocurrency project, it is important to scrutinize the legal status of the investment in the jurisdiction of the investor.  Further, the investor should check in to the whitepaper, assess the team behind the project, check the details of the project on social media, ascertain if there are legal issues, identify if the token’s project is solving a major issue, check the major announcements made by the cryptocurrency.

When buyers invest in crypto, they are also concerned about the potential impact on the price.  The price of crypto keeps changing, and there is a consequence for every high and low.

The price of a Bitcoin or cryptocurrency is affected by the supply and the market demand for it.  The availability of the crypto for buyers and the other competing cryptocurrencies and their scope also influence the price.

When there is mass adoption, the price of the cryptocurrency can shoot off the roof. For instance, there are 1600+ places, stores, and services that accept Dogecoin. A Dogecoin Adoption map will give an approximate picture of adoption.  The better the adoption, the better would be the price. Adoption means more people are using it.  It is people who accept the value allotted to a cryptocurrency, and therefore the more people accepting it means, the better for its price and stored value.

CNBC pointed to how the global cryptocurrency adoption has taken off to as high as 881%.  Vietnam, India, and Pakistan are obviously in the lead.

As Chainalysis made an assessment of about 154 countries for crypto adoption in terms of total crypto activity, trading activity of non-professional users, and peer-to-peer exchange trading volume. Capturing crypto adoption by ordinary people and the use cases they focus on, the transactions and individual saving were done.  Importance was not given to trading and speculation.

Emerging economies are the major adopters. For example, there are high volumes of peer-to-peer transactions using cryptocurrencies by the internet-using population in Vietnam and Venezuela. In addition, several residents resort to crypto to preserve their savings during times of currency devaluation. They also use crypto to receive remittances and to execute business transactions.

Nigeria is a commercial market for crypto.  A lot of commerce is happening in the cryptocurrency rails. Unfortunately, clear data is not available about the crypto P2P markets in sanctioned nations.