Over the years, cryptocurrencies have managed to rise from an apparent mediocrity to some of the world’s best investment opportunities. Millions of people around the world have already recognized their potential and how much they can impact and change the market beyond recognition. With the rise of Bitcoin as their most popular and valuable example, digital currencies are here to stay.
The future is bright, and it is going to feature mostly digital currencies. When exactly that is going to happen remains to be seen. For now, we can only continue to look on and prepare for an eventual takeover by the virtual currencies, which are going to one day completely remove traditional fiat currencies out of the game.
Right now, there are some major cryptocurrency hubs in the world, both in terms of countries and in terms of cities. In this article, we plan to explore where cryptocurrencies are the most popular in the world, and where you as an investor have the best chance of purchasing, spending, and trading Bitcoin, Ethereum, and all of the other virtual currencies. For example, Australia is quickly joining in on the race and has its place on all the lists. To learn more about cryptocurrencies in Australia and start investing, visit bitcoinaussiesystems.com.
1. The European Union
As with everything else, the EU is at the very top of most lists including the best places to operate with cryptocurrencies. The European Union has a total of 49 registered cryptocurrency exchanges. Of course, since there are many countries in the EU, not all of them are equally represented. For example, Austria has the largest number of registered Bitcoin ATMs in the entire European Union, 153. However, Romania, Spain, and Switzerland all have more BTC holders and a better overall cryptocurrency infrastructure on average. The Swiss have 78 BTMs as well, while Spain, Czech Republic, Poland, and Germany have 72, 67, 60, and 59, respectively. Considering different parameters, different countries can be at the top, but there is no definite way of comparing them since there are too many differences in populations, percentages of cryptocurrency holders, and the government’s support for the currencies.
2. The United Kingdom
Freshly out of the European Union, it is actually the UK that is the absolute leader in all parameters with cryptocurrencies. A clear indication of this is the fact they have 43 registered exchanges within its borders. In addition, London is one of the capitals of the world for Bitcoin and the rest of the digital currencies. Furthermore, the UK currently offers 256 BTMs to all the people looking to quickly deal with their digital currencies. If all of this was not enough, it should be mentioned that digital currencies are constantly on the rise in the UK, as more and more people start investing in them every year.
3. The United States
The trend of the strongest economies leading the way of cryptocurrencies continues with the USA, a country with arguably the largest number of cryptocurrency holders in the world. There are now 27 digital currency exchanges registered in the USA, second-most by a single country right behind the UK. However, a segment that the USA will probably always lead is the total amount of BTMs on its territory, which currently sits on an astonishing 6,366. This should not come as a surprise considering the tech-friendly cities filled with startups like San Francisco and its Silicon Valley, Los Angeles, and New York. With millions of people living in them, they definitely need all the infrastructure they can get if they are to successfully continue the country’s digital currency progress.
4. The Rest of the World
Outside of the top three, further hardships ensue when determining the most popular cryptocurrency countries. In Asia for example, China, which has the largest population in the world, only has 9 registered exchanges, following an all-out ban and cracking down on miners, while Hong Kong and Singapore have 22 and 19. South Korea has 7, and Japan has 6. All of these countries are very developed and technology-oriented, with countless startup tech companies and millions of cryptocurrency users among them. Still, they do not have nearly as many exchanges. Furthermore, only Hong Kong has a presence on the list of top 10 BTM countries, sharing the 9th spot with Germany with 59 Bitcoin ATMs each.
Canada has the second-largest number of BTMs on the planet with 747, probably because it deemed it necessary to perform this modern business with their American neighbors, who are arguably the cryptocurrency leaders of the world right now, with the UK following close behind.
On the other hand, if we were to talk about the most crypto-friendly countries, the list further complicates things. This friendlies reflects itself in the will of the people to accept cryptocurrencies as valid payments, and in the number of new cryptocurrency-oriented businesses and companies. Japan is at the top of this list, with roughly 10% of the total global traffic comes from the country. The government is still not doing the most, but they seem to be opening more and more.
Switzerland, Singapore, and Luxembourg follow closely on the next three sports. The Swiss have their own “Crypto Valley” in Zug, a canton sporting progressive laws that regulate this business. Singapore legal authorities view digital currencies as goods instead of money, meaning there is just 7% in tax. Luxembourg is even better, as they treat virtual currencies as intangible assets, meaning they have no income tax until you dispose of them.
Apart from the global leaders mentioned above, Australia, Russia, Norway, Sweden, Denmark, Mexico, South Africa, and Malta are all improving greatly in the cryptocurrency sector. While these countries are moving forward, there are those hostile towards cryptocurrencies like most South American countries apart from Chile. In Africa, most countries do not have a presence, but some have banned cryptocurrencies including Morocco, Algeria, Egypt, and Namibia. China, India, and most of their neighboring border countries have either completely banned cryptocurrencies, or they show great hostility towards them and shun them wherever they can.
As you can see, just like with most progressive things, the northern hemisphere is dominantly for cryptocurrencies as most countries welcome them with open arms. Western countries, as they are called, lead the way here together with Australia and Russia. More conservative regions are still very much on the fence, but they too will probably realize all the benefits of digital currencies and change their mind in the future.