• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Digital Assets

World’s Crypto Adoption Capitals Unveiled   

by Staff Writer
May 30, 2024
in Digital Assets
0
Crypto by Kanchanara on iStock
Crypto by Kanchanara on iStock

Crypto by Kanchanara on iStock

UBA
Advertisements

Quick look

  • Argentina is the world’s most crypto-friendly country 
  • America ranks second for crypto adoption 
  • The United Arab Emirates, with the most crypto holders, ranks third 

Cryptocurrencies have been rising in popularity in recent years, with crypto ownership growing from 432 million to 580 million in 2023 alone, according to Crypto.com.

10 African Countries That Banned Cryptocurrency

While many countries have tried to regulate and suppress the technological advances, others have accepted and supported the growth of these new industries.

Argentina topped the list as the world’s most crypto-friendly country, with a large percentage of the population holding crypto and offering some of the best conditions for miners and traders alike.

Research by crypto experts at CryptoCasinos analysed 10 metrics to determine which countries across the globe have adopted crypto more so than any others, making them the most crypto-friendly nations.

The metrics chosen are the percentage of the population holding cryptocurrency, the cost and profit of mining one bitcoin, and search volume per 100,000 population for crypto-related keywords.

The data also includes the percentage share of each country’s traffic to each of the major crypto exchanges Binance, Coinbase, BitFinex, Kraken, Kucoin and OKX.

Countries with the highest rates of crypto adoption  

Crypto friendly countries
Advertisements
MTN ADS
Crypto friendly countries

Argentina is the most crypto-friendly country. One in ten (9.7%) of the country’s population holds cryptocurrency, over triple the global average of 3%.

The low energy costs make it a perfect place to mine Bitcoin, costing an estimated $14,647 to mine 1 Bitcoin, meaning a profit of $51,261 (based on a BTC price of $65,908). Argentina also has one of the highest amounts of traffic (6.3%) to Binance (the world’s largest crypto exchange).

America has a high percentage of the population holding a cryptocurrency, with 15.6%. However, higher average energy costs mean it costs more to mine Bitcoin in certain parts of the States ($87,885).

Americans visited Coinbase over 48 million times in March, making up 59% of the website traffic. The US also made up 23.3% of the traffic to Kraken, showing the US is actively embracing crypto and investing through these exchanges.

Colombia ranks third for crypto adoption; the rise in blockchain activity is partly due to the depreciation of the Colombian Peso over the past few years (as reported by Bloomberg in 2022); crypto offers wealth protection from depreciating currencies.

Five per cent (5%) of the population holds crypto, and Colombians make up 5.8% of the global web traffic for the largest exchanges, which is on par with many of the other countries in this list.

Ukraine is the fourth most crypto-friendly state. Over 10% of the population holds cryptocurrency, and mining costs are particularly cheap, averaging around $19,530 per bitcoin.

Based on the price previously stated, this would mean the profit would be $46,378.  Ukraine also makes up 4.8% of the web traffic to Binance, the world’s largest crypto exchange.

The United Arab Emirates ranks fifth for crypto adoption worldwide, with the largest percentage of the population holding crypto at 30.4% (The average across all countries is 3%), only Vietnam comes close with 21%.

Search volume for crypto-related terms is also the highest with 1,415 searches per 100,000 of the population.

The UAE has been fostering a robust and flexible ecosystem to attract business and drive forward technological innovation, making the nation a frontrunner in digital adoption, as reported by Forbes in 2023.

Vietnam, ranking sixth, has continued to witness its economy becoming more digitised in the last decade, becoming one of the world’s most crypto-adopted nations and is currently Asia’s most crypto-friendly country.

Twenty million (21.2%) of the population hold cryptocurrencies. Vietnam drives 4.9% of the web traffic to crypto exchange OKX and 6.3% to Binance.

Turkey ranks seventh for crypto adoption, which could be since the Turkish lira has, at times, proven to be more volatile than bitcoin. Turkey’s inflation rate surpassed 83% in 2022 and is around 67% currently.

Due to this, over 4.8 million (5.6%) of the population choose to hold crypto.

Turkey makes up 6.6% of the web traffic to Binance, and mining operations may be slightly cheaper, with an average cost of $39,060 per Bitcoin.

Canada is eighth in this ranking for crypto adoption. 7% of the nation currently hold crypto, and there are 1,204 searches for crypto-related keywords every month per 100,000 of the population.

Canada is also responsible for 8.4% of website traffic to Kraken.

Singapore ranks ninth for crypto adoption. Having earned a reputation as one of the key financial centres in the world, it is unsurprising that Singapore has begun to establish itself as a global cryptocurrency hotspot.

[Featured Image by Kanchanara: Credit]

Loading

Author

  • Staff Writer
    Staff Writer

    View all posts
0Shares
Tags: BinanceBitfinexCoinbaseCryptoKrakenKuCoinOKX
Staff Writer

Staff Writer

Next Post
YoLa Fresh Secures $7 Million to Drive Sustainability in Africa’s Fresh Produce Supply Chain

YoLa Fresh Secures $7 Million to Drive Sustainability in Africa’s Fresh Produce Supply Chain

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Vivajets CEO speaking at NAF 60th anniversary

NAF at 60: Vivajets Ready to Support Air Force Aircraft Acquisition, Management

1 year ago
Untrained and uninformed humans as the weakest link in cybercrime

Untrained and uninformed humans as the weakest link in cybercrime

5 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.