Cryptocurrencies have fascinated many people since they appeared. They are a virtual, decentralized currency that you can get on the internet, and use it there. It’s encrypted, which means that the transactions are secured. There isn’t any institution looking over it, so it depends only on the demands on the market. This is why its value can fluctuate, but it’s also why it attracts a lot of people. Let’s dive in and see which countries have the most cryptocurrency hoarders, users, and traders. Right now, Bitcoin is still leading cryptocurrency with Ethereum not being so far behind. It’s also worth mentioning that there are other cryptocurrencies worth looking into as well.
1. United States
The US is the country that has the most bitcoin hoarders, which might cause us to say that it’s the country where cryptocurrencies are the most popular. There are a large number of exchanges, platforms, mining facilities, and many crypto-related projects, so it doesn’t come as a surprise that the US has the most hoarders. Another variable is that the US has a large population, which is a factor worth mentioning.
San Francisco is a city in the US where you can buy Bitcoin from the ATM at nineteen spots. There are also several places that accept the Bitcoin currency. Florida has 45 Bitcoin ATMs.
If you’re familiar with Gemini, you probably know that its home is in New York.US is also the country which has the largest number of bitcoin ATMs and generally, the most users of cryptocurrencies. How the US behaves towards the cryptocurrencies differs from state to state, with some states having a favorable view towards them, such as Texas or Montana, and with some of them having regulations which aren’t favorable, like New York. Most of the states aren’t on either of those lists.
2. United Kingdom
UK and US are the countries where the biggest number of crypto exchanges are located. Given the number of people living in the country, that’s not really surprising. The UK capital, London, which is home to 8.982 million people, has over 100 Bitcoin ATMs. With so many ATMs and so many people, it’s not surprising that the UK is one of the places where cryptocurrencies are most popular. The UK bank is keeping an eye on the cryptocurrencies which are viewed as private money.
Singapore has a specific position when it comes to its relationship with cryptocurrencies. People there don’t have to pay tax on any income that they have from cryptocurrencies, and some of the regulatory institutions have shown friendly behavior towards it. Since Singapore is a very stable political country you know that you can develop business there without the risk that unstable countries pose. This is why many people there can safely turn to cryptocurrencies. There are many shops in Singapore that accept payments in cryptocurrency.
Buenos Aires is the place that ranks second when it comes to the number of Bitcoin businesses, according to Forbes. The country has over 30 businesses that accept bitcoin. There are over 100 merchants that accept Bitcoin in Buenos Aires only. There are 11 ATMs. Technically speaking, bitcoins are not legal currency. Argentina is in third place when it comes to the Bitcoin currency adoption, it’s done a great job in the past two years and it’s proven to be a great place for cryptocurrencies. You can even pay for travel with your bitcoins. To make matters even more interesting, according to the Medium, Argentina has settled a deal with Paraguay using Bitcoins.
Canadia has a significant number of people interested in cryptocurrencies. Vancouver is one of the cities where there is a notable amount of action taken, regarding virtual currencies. It has also started regulating them. Bitcoin can be bought at numerous ATMs, actually, almost 40 of them! Interestingly, Vancouver is also the home of the first bitcoin ATM ever.
Prague is currently the city with the most vendors which accept Bitcoins. Czech has also brought the law that requires the identity of the customers that participate in currency exchanges.
Amsterdam has more than 30 merchants where you can pay with Bitcoins. There are also places where you can pay with cryptocurrencies in Utrecht or Rotterdam. Smaller towns also have their place on the cryptocurrency map. Arnhem has more than double the number of bitcoin-accepting businesses than Amsterdam itself!
Malta is another country that set their eyes on the cryptocurrencies. It’s very friendly towards cryptocurrencies, and it’s home to the Binance, OKEx, QDR, and ZB.com. It’s become well-known because of the Malta Blockchain Summit where you could see many famous blockchain figures speak. According to Medium, Malta has signed a declaration concerning the blockchain promotion.
Now that we’ve covered all of the countries where the cryptocurrency is most popular, let’s talk about a few other ones that are doing a great job at adopting it. Switzerland, for example, has a few banks that have functionalities related to the cryptocurrencies. Colombia has 18% of the world’s cryptocurrency adoption. Sweden, though they had a very careful approach at first, plans to launch their own version of fiat currency. As we can see, many countries are gaining more understanding of the cryptocurrencies and even finding ways to incorporate them into daily lives. To find out more about cryptocurrencies, the legality of bitcoin activities, and whether or not the process is anonymous, take a look at the readersdigest.co.uk.
Those are just some of the countries with notable cryptocurrency activity. Some of them have a lot of hoarders, some of them a number of trades, while some of them are making their regulations more suitable for cryptocurrency users. This attracts more people and causes further changes in the economy of the country, bringing ATMs, and giving the security of regulated processes to the merchants which might be open to the idea of cryptocurrencies.