Cryptocurrencies are becoming more and more popular around the world and a growing number of citizens are using them and choosing to invest in them.
Some countries are even starting to create more infrastructure to join the “cryptocurrency revolution”, while also provoking the interest of their citizens.
But the question is how many countries and to what extend, provide the ”environment” that gives the most opportunities for someone to start investing in cryptocurrencies and trading with them.
Crypto Head – a website with a wealth of information about cryptocurrencies – has researched the subject by looking at all available databases and analyzed a number of factors that make some countries more ready for wider cryptocurrency use.
In addition to this, they examined each country’s legislation on cryptocurrencies in terms of possession and transacting with them.
Finally, interest from the public in cryptocurrencies is also an important factor.
Combining the score from each criterion, the website managers reached the overall score (with a top 10) collected by each of the 200 countries and regions around the globe that came under the microscope.
The 5 most crypto ready countries
USA, rating 7.13/10
USA has over 17,000 cryptocurrency ATMs that are by far the most in the world, with the next closest country having about 16,000 fewer. US law allows cryptocurrencies to be held and used in banks, and there has been a 140% increase in cryptocurrency searches over the past year.
Cyprus’ high score is mainly attributed to its high rating on the factor concerning citizens’ internet searches for cryptocurrencies (33,941 people per 100,000 citizens).
In fact, it is the highest number proportionally of the population while the increase in searches in a year reached 139.6%. Cryptocurrencies are also allowed to be held.
The third highest-rated country also records the second-highest number of searches on the internet (30,000 per 100,000) in the last year and also here the law allows the possession of cryptocurrencies.
There are also 10 crypto ATMs and because it is a small country it means there is one ATM every 28 square miles.
Hong Kong, 6.27/10
Hong Kong’s autonomous region is one of the most densely populated parts of the world with 7.5 million people living in an area of less than 500 square miles.
There are 124 Crypto ATMs available in the area. This means there is one crypto aTM, on average, every 3 square miles, and one for every 60,000 people. Hong Kong has also recorded an increase in online searches – in fact doubling – over the past year.
United Kingdom, 6.06/10
Interest in cryptocurrencies is growing rapidly in the UK as online searches increased by 205% in the last year.
The UK has also the third-highest number of crypto ATMs in the world, having 200 and of course, the state allows the use and possession of cryptocurrencies.
The top ten list is completed with: Ireland, Slovenia, Australia, Germany, and Canada.