Report Shows U.S. Top Crypto Ready Countries

[ad_1]

Crypto Head recently released a report placing the United States at the top of its list of “crypto ready” countries.

One indication that the country is ready to embrace cryptocurrencies is the sheer number of Bitcoin ATMs currently operating in the United States.

Related reading | Elon Musk’s “Baby Doge” tweet drives up the price of Dogecoin

The research platform based its analysis on ATMs in different countries and how citizens use them. The team also checked the extent of crypto legality in countries and considered whether they could accept it.

Also, they checked the total number of searches online for digital asset terms. These factors allowed them to calculate the result by comparing 200 countries and different territories.

United States wins first place for crypto

The crypto-ready score index used a 10 country scale to add to a list. According to the results, the United States took the top spot scoring a whopping 7.13.

After the United States, Cyprus and Singapore rank second and third, respectively. While each of these countries scored less than 6.50. Even so, experts believe that the platform did not take into account more factors that can measure the readiness of these countries for digital assets.

For example, some believe that this report should have added the regulatory environment and tax laws of the country.

The crypto market has taken a hit and it has plunged into the red zone | Source: TradingView.com

When collecting data for its research, the report revealed 17,436 cryptocurrency ATMs in the United States. That number exceeded ATMs in the second country, Canada, by 16,000. The team also learned that more and more ATMs are being placed in the United States on a regular basis.

They also found that Coin Cloud, an ATM company, is steadily increasing its facilities across the country.

Related reading | Bitcoin solves this: Hong Kong ATMs run out of cash and panic over Indian banks

The researchers also based their score on who could use these ATMs. According to their findings, the United States took the top spot again, as each ATM in the United States serves 19,023 people, while Canada has one ATM for 26,265 people.

Japan was the least with its single ATM for 126 million users. But among the 200 countries, 24 did not have cryptocurrency ATMs.

Other countries are interested in adopting crypto

When reviewing the legal readiness of 39 countries, including the United States, they based this decision on two points which were the legality of owning cryptocurrencies and the legality of using in their banks.

Related reading | TA: Bitcoin correcting gains, which could trigger a new rally

While searching online, the research team verified the total number of searches for cryptocurrency terms in these countries. Then, they compared it to data from 2020 to gauge the growing interest in the technology among the people of each country.

According to their data, Cyprus saw a 137% increase in its online searches for cryptocurrency terms compared to 2020 data.

In addition, they found that for every 100,000 Internet users in the country, there were as many as 34,000 searches for these terms. This number has placed it in the # 1 position for online technology researchers.

In addition to Cyprus being the first in online research, the team found that interest in cryptocurrencies is increasing in other countries.

For example, Romania recorded a 331% increase in its online searches based on an annual analysis. Other countries such as Greece, the UK, Saudi Arabia and Canada have also shown a spike in interest in digital assets.

Featured image from Pixabay, chart from TradingView.com

[ad_2]