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Asia now a hub for expats pursuing crypto dreams
| Published: | 19 Jul at 6 PM |
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Asia is now the world’s favourite hub for expats’ crypto careers.
Expats from the West are now congregating in Asian countries in the hope of furthering their crypto careers. According to those on the scene, hopefuls from the USA, the UK, Australia and Europe are arriving in far greater numbers than ever before, all working to grab a slice of the amazing opportunities on offer, with Crypto companies springing up like mushrooms to boost this emerging market.
Unlike in other world Crypto communities, the Asian version seems to be focused on trading/DeFi in which investors seem to have a greater appetite for risk. Bitmex’s Hong Kong headquarters with its 100x leverage generated $1T in trades over the last year whilst ignoring and shunning the market in the USA. Many new arrivals are from the USA, due to that country’s unfriendly regulations imposed on Crypto companies, with the US-based firms in the sector now struggling to maintain a foothold, however small.
Crypto-focused expats are now giving Berlin, Estonia and other European hubs a complete miss and heading out East to live the dream. Asia’s love of gambling is known worldwide, with Crypto now known as the ‘world’s first global casino’. It’s an apt description, as fortunes can be made in minutes and lost again just as fast. However, many of Asia’s institutional players are very comfortable playing the long game rather than taking huge risks and expecting massive returns as is fashionable in the USA.
Many expats in Asia are now seeing Bitcoin as the only tool able to drag humanity away from the claws of greedy tyrants and oligarchs. The currency’s brand has been seen as a get-rich-quick scheme and has attracted investors from the large-scale to the very small, but is now finding a place from which it won’t be dislodged. This fact underlines the position of the USA’s dominance in both the finance and tech sectors, risking its survival as a world leader and letting Asia in as the main player in both sectors.
Expats from the West are now congregating in Asian countries in the hope of furthering their crypto careers. According to those on the scene, hopefuls from the USA, the UK, Australia and Europe are arriving in far greater numbers than ever before, all working to grab a slice of the amazing opportunities on offer, with Crypto companies springing up like mushrooms to boost this emerging market.
Unlike in other world Crypto communities, the Asian version seems to be focused on trading/DeFi in which investors seem to have a greater appetite for risk. Bitmex’s Hong Kong headquarters with its 100x leverage generated $1T in trades over the last year whilst ignoring and shunning the market in the USA. Many new arrivals are from the USA, due to that country’s unfriendly regulations imposed on Crypto companies, with the US-based firms in the sector now struggling to maintain a foothold, however small.
Crypto-focused expats are now giving Berlin, Estonia and other European hubs a complete miss and heading out East to live the dream. Asia’s love of gambling is known worldwide, with Crypto now known as the ‘world’s first global casino’. It’s an apt description, as fortunes can be made in minutes and lost again just as fast. However, many of Asia’s institutional players are very comfortable playing the long game rather than taking huge risks and expecting massive returns as is fashionable in the USA.
Many expats in Asia are now seeing Bitcoin as the only tool able to drag humanity away from the claws of greedy tyrants and oligarchs. The currency’s brand has been seen as a get-rich-quick scheme and has attracted investors from the large-scale to the very small, but is now finding a place from which it won’t be dislodged. This fact underlines the position of the USA’s dominance in both the finance and tech sectors, risking its survival as a world leader and letting Asia in as the main player in both sectors.
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