10 Top Developing Countries That Rely on Crypto in 2025

I will discuss the Top Developing Countries That Rely on Crypto, discussing how many of them utilize the digital currency for financial inclusion advancement, supporting economic development, and addressing the problem of the traditional banking system.

Those countries are using crypto for remittances, investment, as well as for daily payments, and therefore, they are important participants in the world of digital currency.

What is Developing Countries?

Developing countries, conventionally known as ‘low- and middle-income nations’, represent nations exhibiting economic growth, but, simultaneously, grappling with numerous issues, such as below par infrastructure, low living standards, inadequate educational and health care services.

The economic activities of these countries are primarily concentrated in agriculture, manufacturing, or nascent industries, their economies, however, subject to higher than normal vulnerability to global market shifts.

Regardless of these issues, developing nations are considered important global economies because their growth, fueled by foreign investments, foreign and domestic technological adaptation, and local adaptations, propelled by foreign investments in innovations, remains largely untapped.

How To Choose Developing Countries That Rely on Crypto

This is a detailed framework on how to identify developing nations that utilize cryptocurrency focusing on the objective highlights.

High Cryptocurrency Adoption: Further analyze which populations utilize or trade cryptocurrency on a substantial level.

Economic Instability: When a country is hit hard with hyperinflation, currency becomes devalued, or their banks get rationed, it is very common for them to replace their currency with crypto.

Remittance Wealth Dependence: Countries with crypto remittance flows are reliant on it because it offers cheaper and faster cross border transaction services.

Attitude Toward the Government: It is best to look at developing nations that have positive or null posture towards crypto

Technological Infrastructure: The distribution of crypto currency is dependent on the accessibility of mobile technologies, the internet, and online payment services.

Key Point & Top Developing Countries That Rely on Crypto List

Country	Key Point on Crypto Reliance
Nigeria	High crypto adoption due to inflation, remittances, and limited banking access
Vietnam	Growing crypto trading community and increasing investment in digital assets
Philippines	Heavy remittance dependency; crypto offers faster, cheaper cross-border transfers
Indonesia	Large population with rising interest in digital payments and blockchain technology
Ukraine	Economic instability and geopolitical uncertainty drive citizens to use crypto
Brazil	Inflation concerns and rising fintech adoption encourage crypto usage
Turkey	Currency devaluation and high inflation make crypto a store of value
Venezuela	Extreme inflation and economic crisis push citizens to rely on cryptocurrencies
Thailand	Government-friendly regulations and growing crypto investment culture
India	Increasing crypto adoption, growing fintech infrastructure, and investment opportunities

1.Nigeria

Amongst developing countries, no other country is more advanced in the use of crypto than Nigeria. This is due to the Nigerian citizens’ economic hardship which drives them more to crypto than the traditional banking system, which is also limited in Nigeria.

Additionally, Nigeria has the highest P2P crypto transactions in the world, which is attributed to self-employment and remittances. The social media boom and heavy smartphone penetration has also made crypto usage prevalent.

This gives Nigeria the opportunity to be the first country, among others in the developing world to adopt crypto currency.

Here are some destinctions Nigeria is famous for

• Nollywood – One of the biggest film industries in the world is in Nigeria
• Afrobeats Music – Nigeria is the country of stars like Burna Boy, Wizkid, and Davido.
• Zuma Rock & Olumo Rock – Notable geological features.
• Lagos City – The largest city in Africa and its center for commerce.
• Nigerian Cuisine – Internationally popular dishes include Jollof Rice, Suya, and Egusi Soup.
• Cultural Diversity – More than 250 ethnic groups, such as the Yoruba, Igbo, and Hausa-Fulani.
• Football Passion – The country has excelled in producing footballers and has won the African Cups of Nations multiple times.
• Oil & Natural Resources – A major oil producer in Africa.

2. Vietnam

Vietnam has become one of the most prominent developing countries that utilizes crypto as a result of the country’s fast-developing digital economy and technology-ready citizens.

Younger investors and entrepreneurs in particular focus on cryptocurrencies for investment and innovative purposes due to a lack of traditional investment avenues available in the country.

There is a surge in the number of virtual currency investment and blockchain technology based startups coupled with the strategic crypto currency trading platforms which is further making crypto an ubiquitous asset for wealth accumulation.

Apart from the investment and virtual currency trading, the Vietnamese also use crypto for cross border payments which earns Vietnam an important position in the world crypto map.

Let’s explore what Vietnam is known for. Here’s a short list.

• Ha Long Bay – one of the new Wonders of the World full of beautiful stone islands.
• Pho & Other Dishes – Popular Vietnamese dishes such as Pho, Banh Mi, and spring rolls.
• Vietnamese Coffee – Recognized for its strong drip and unique egg coffee.
• Hoi An – Known for its beautiful lanterns, preserved old buildings, and tailor shops.
• Cu Chi Tunnels – Massive system of tunnels from the Vietnam War.
• Ao Dai – Traditional Vietnamese long dress worn at cultural events.
• Motorbiking – Big cities such as Hanoi and Ho Chi Minh City are packed with bikes.
• Sapa – Famous for its wonderful rice terrace views.

3. Philippines

Philippines has placed itself among the top developing countries that use crypto with the heavy dependance on remittances and the rise of the Digital economy.

The fact that low and middle income Filipinos devote much of their earnings to transactions makes cryptos a viable solution.

Remote work has produced a population that is young and technologically able and eager to use crypto for investment and e-commerce. Government policies that back the adoption of new innovative initiatives aim to promote crypto and blockchain use.

The combination of these opportunities makes the Philippines one of the top crypto dependant countries among developing economies.

These are what the Philippines is famous for nowadays and the last couple of decades.

• Beautiful beaches – beaches and resorts at Boracay, El Nido and Palawan.
• Chocolate Hills – bosom of unique natural spectacles at Bohol.
• Public transport – public transport vehicles that are covered in ‘jeepney’ art.
• Filipino Festivals – rich culture of the Philippines festivals Sinulog, Ati-Atihan, and Pahiyas.
• Filipino Food – food culture of the Philippines that includes Adobo, Lechon and Halo-Halo.
• People – warm and welcoming people of the Philippines.
• Famous Boxers – Manny Pacquiao, famous sport athlete of the Philippines.
• Underwater attraction – scuba diving at the famous Tubbataha Reefs and Apo Island.

4. Indonesia

Due to its growing population and interest in alternative investments, Indonesia is one of the emerging markets that embrace cryptocurrencies. Citizens in the country’s outskirts use cryptocurrencies due to inadequate banking services.

The e-commerce and fintech sectors also stimulate the use of digital assets for payments and trading. Indonesia’s young citizens see cryptocurrencies as an opportunity to create wealth.

Because of this, the country is one of the top adopters of cryptocurrency in the developing world. Indonesia combines technology and economic opportunity, with the latter driven by crypto.

Below are a few things that ‘Indonesia is famous for’ broken down one by one:

• Bali–An island famous across the globe for its cultural variety as well as its beaches and temples.
• Borobudur & Prambanan–Ancient monuments listed as a UNESCO World Heritage Site with a rich history and captivating architecture.
• Komodo Dragons–Massive lizards, found exclusively on the island of Komodo.
• Volcanoes–Adventurous spots that include Mount Bromo and Mount Merapi.
• Batik & Ikat–Traditional, UNESCO-recognized textile arts unique to the country.
• Spices & Coffee–Famed for its Java coffee along with the rich history of the Spice Islands.
• Wayang Kulit–Shadow puppetry. A classical form of art that originates from Java.
• Diversity of Culture–More than 300 ethnic groups and 17,000 islands.

5. Ukraine

Among developing countries, Ukraine stands out for its evolving approach to cryptocurrencies. Its economic instability and geopolitical conditions, alongside its strong technology community, widespread internet connectivity, and persistent currency instability, tend to accelerate adoption and usage of digital assets for investments and daily transactions.

Apart from offering an alternative to traditional banking methods, cryptocurrencies, and blockchain technology facilitate fundraising and streamline funding for various initiatives across borders.

These attributes place Ukraine among the world’s advanced developing countries which are actively adopting and integrating cryptocurrencies into their economies.

Let’s look at what Ukraine is known for, point by point:

• Kyiv Pechersk Lavra & Saint Sophia’s Cathedral – Unesco world heritage sites of world importance and primary importance for the Church.
• Carpathian Mountains – Hiking, skiing, and breathtaking views.
• Traditional Cuisine – Famous and loved, unique dishes like Borscht, Varenyky, and Holubtsi.
• Black Sea Coast – Monuments of culture and port cities, mainly Odesa, known for its beautiful beaches.
• Sunflower Fields – Major producers of sunflower oil, and one of the largest in the world.
• Chernobyl Exclusion Zone – Site of the nuclear catastrophe of 1986, known for other historical events as well.
• Folk Music & Dance – Uniqueness of the traditional hopak dance and beautifully decorated embroidery.
• Independence Square (Maidan Nezalezhnosti) – Outstanding emblem of freedom as well as modern-day Ukrainian identity.

6. Brazil

Due to rampant inflation and a surging demand for alternative payment systems, Brazil, one of the most influential developing economies, is increasingly turning to cryptocurrencies.

For many Brazilians, crypto is increasingly a means of accessing a self-custodied, inflation-resistant store of value while also providing an alternative payment system with cheaper and faster settlement than their banks.

Brazil’s integrated fintech ecosystem, along with the operator’s smartphone penetration and Brazil’s crypto-supporting regulatory environment, also allows for crypto usage beyond just investment.

Moreover, the country’s young, tech-savvy people’s enthusiasm toward digital assets makes Brazil an important case of a developing country leveraging cryptocurrency for innovative financial solutions.

Brazil’s attractions and interests are many and here are some of them.

• Christ the Redeemer – This is a statue in Rio Janeiro and is regarded as one of the New 7 Wonders of the World.
• Amazon Rainforest & River – This is the largest rainforest in the world along with the largest river system in the world.
• Carnival Festival – The largest street festival in the world, known for its samba parades and elaborate costumes.
• Football Legends – Brazil is home to some of the best football players, such as Pelé, Neymar, and Ronaldo, and the country has won 5 World Cups.
• Rio de Janeiro Beaches – The world renowned beaches, Copacabana and Ipanema, are located in Rio de Janeiro.
• Iguaçu Falls – This is one of the biggest and most beautiful waterfalls in the world.
• Brazilian Cuisine – Some of the most iconic dishes include Feijoada, churrasco, and pão de queijo.
• Capoeira – This is a unique form of martial art, created in Brazil, that incorporates music and acrobatics.

7. Turkey

Turkey is one of the most advanced developing countries that relies on crypto as the country is experiencing rapid devaluation of the domestic currency and very high inflation which is eroding the value of any savings which is usually held in traditional currency and assets.

Cryptocurrencies have become an alternative solution for economic uncertainty where people are converting their funds as value store.

The growing population and their ability to adopt high technology together with the rising availability of digitized banking systems makes it easy to use crypto for their daily purchases.

The combination of compelling economic circumstances and technological capability makes Turkey stand out as one of the foremost developing countries in the world which is actively using crypto.

Let’s take a look at a few points on what Turkey is famous for:

• Hagia Sophia – Notable building in Istanbul for its history, massive interior, and its status as a mosque and church.
• Cappadocia – Filled with hot air balloon rides and interesting rock formations.
• Turkish Cuisine – Famous dishes include kebabs, baklava, and Turkish delight.
• Grand Bazaar – One of the largest and oldest indoor markets in the world.
• Pamukkale – Known for the white travertine and thermal waters.
• Blue Mosque (Sultan Ahmed Mosque) – Famous mosque with its brilliant blue tiles located in Istanbul.
• Historical Sites – Turkey is home to the rich history of Troy, Ephesus, and the Topkapi Palace.
• Turkish Tea & Coffee – Used daily and a sign of hospitality.

8. Venezuela

Venezuela rests as the zenith of developing countries that use crypto due to their extreme economic instability and hyperinflation which has made the national currency almost worthless. Citizens and residents of the country are turning to cryptocurrencies for speculative savings as well as for flexible means of transacting and remitting.

The sparse access to formal banking systems and international finance fuels the adoption of crypto.

Furthermore, the increasing population that is proficient with technology uses Blockchain for day to day business and earning, making Venezuela an astounding example of a developing country that uses cryptocurrencies for both necessity and innovation.

Some things are especially popular with Venezuela , similar to these below:

• “Angel Falls” – The tallest waterfall in the world situated in Canaima National Park.
• “Lake Maracaibo” – Known for its heavy storms and massive area.
• “Arepas and Venezuelan Cuisine” – Notable arepas, pabellón criollo, and the hallaca.
• “Caracas” – The capital of the country, rich in culture, urban life, and history.
• “Mérida and The Andes Mountains” – Well known for breathtaking views, cable cars, and adventure sports.
• “Los Roques Archipelago” – Attracts travelers due to the rich marine life and beautiful beaches.
• “Baseball Passion” – The most practiced and played sport in the country, giving rise to many MLB players.
• “Traditional Festivals”– Events like Carnaval and Feria de la Chinita representing the vibrant culture.

9. Thailand

Thailand has placed itself amongst the developing nations proficient in crypto due to its ever-growing digital economy and a plethora of government regulations.

Cryptocurrencies and blockchain technology have been placed on the investment border by the government which has encouraged many investors and innovative thinkers to take the plunge.

Moreover, the large part of the population that is technology competent uses crypto for investments, purchases made online and even money transfer overseas.

These regulations, coupled with the population’s substantial technology access and the nation’s ever-growing fascination with alternative payment systems, have encouraged Thailand to embrace digital currency for the economy and routine transactions.

Some things are especially popular with Thailand, similar to these below:

• Grand Palace Why is Thailand famous? Also known as the most important landmark in Bangkok, it is doubly renowned for it’s unique architectural design.
• Beaches & Islands Known throughout the whole world. Incudes – Phuket, Krabi, Koh Samui, and the world famous Phi Phi Islands.
• Thai Cuisine People know Thailand for it’s most delicious Pad Thai, alongside the other favorites like, Tom Yum, Som Tum, and Green curry.
• Buddhist Temples Wat Pho, Wat Arun, and Wat Phra Kaew. Each of these provides and profound temple experience and draws in millions of people every year.
• Floating Markets Traditional like Damnoen Saduak have unique quai side shopping experiences.
• Elephant Sanctuaries Centers for wildlife conservation and ethical elephant experiences.
• Festivals Culturally rich Songkran (Thai New Year) and colorful Loy Krathong.
• Muay Thai recognized all around the world as a sport, and Thailand’s traditional martial art.

10. India

India remains one of the foremost developing nations on the globe, and among the top countries that make use of crypto owing to the booming fintech industry and a young, technologically advanced populace. Owing to the inadequate reach of conventional financial instruments, a plethora of citizens has taken to crypto as an alternative form of investment.

With the internet, and even more so with improved mobile phone coverage, urban and rural residents alike use the crypto currency infrastructure. As such, these considerations make India one of the developing economies that uses crypto as an instrument of innovation and financial inclusion.

Some things are especially popular with India, similar to these below:

• Taj Mahal: One of India’s New 7 Wonders, let’s not forget it it also is an iconic, beautifully designed, timeless structure recognized at a world level with a UNESCO world heritage.
• Diverse Cultures and Festivals: The remarkable traditions of India are highlighted by the vibrant celebrations of Diwali, Holi, and New Year.
• Indian Food: This one is pretty much a fan favorite, almost everyone loves Biryani, Butter Chicken, Samosa, and who can forget dosa.
• Red Fort and Qutub Minar also: Famous modern and historic structures, christened the pink city of India, also contain the stunning palaces of Jaipur.
• Yoga and Religion: India is the birthplace of Yoga, returns with a variety of Meditation, and a plethora of spiritual journeys.
• Bollywood: A massive column of the world’s largest film industries dolling out musicals swamped with color.
• Uniquely Scenic: The Kaher backwaters, the sleep Saturdays, the tough bounds of the Rajasthan deserts, as well as the unbeatable, divine Himalayas.
• Handmade: Native to eminent silks, dense cotton, remarkable clayworks, exquisite jewelry, and distinguished artistic mastery, is India.

Pros & Cons

Pros	Cons
Financial Inclusion: Provides access to banking services for unbanked populations.	Volatility Risk: Crypto prices fluctuate sharply, posing financial risk to users.
Faster Remittances: Enables cheaper and quicker cross-border money transfers.	Regulatory Uncertainty: Governments may impose sudden restrictions or unclear regulations.
Inflation Hedge: Serves as an alternative store of value in countries with unstable currencies.	Limited Awareness: Many citizens lack knowledge about safe crypto usage, increasing fraud risk.
Economic Innovation: Encourages startups, blockchain projects, and fintech growth.	Cybersecurity Threats: Vulnerable to hacking, scams, and digital theft.
Global Investment Access: Citizens can participate in international markets via crypto.	Energy & Infrastructure Challenges: Crypto mining and transactions may strain local resources.

Conclusion

To finish, it is apparent that the most developing countries that adopt crypto demonstrate how digital currency can provide constructive approaches to problems like inflation, low economic growth, expensive remittance, and insufficient banking services.

Countries like Nigeria, Vietnam, the Philippines, and India use crypto to foster financial inclusion and open new venters, tech-savvy. Even though the unsurety and lack of structure to crypto being so widely used depositor protection is risky, uncontrollably shifting shifts concerning these countries suggests how crypto will shape new constructive finance approaches while empowering their own citizens.

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