In this study, a total of nine regression models were performed with three different dependent variables, nine independent variables, in three different country groups, to find out the relationship between crypto adoption and remittances, monetary uncertainty and financial inclusion. The results show a statistically significant relationship between increased crypto adoption and historical exchange rate volatility in both high- and low-income countries. Peer-to-peer exchange trade volume in low-income countries also seems to be affected by the proportion of the population that sends remittances. Based on these findings, it seems like cryptocurrencies are not only seen as asset substitution, i.e., something to risk diversify the investment portfolio with, it also seems to be used as a currency substitution.