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The cryptocurrency has continued rise in popularity around the world, with many countries legalizing the currency and adopting infrastructure to make digital bidding more accessible.
new research of HedgewithCrypto reveals which countries have led the crypto adoption charge over the past three years. The new ranking compares (nationally) the number of crypto ATMs in each destination, the percentage of the population adopting cryptocurrency, online interest in cryptocurrency, and lastly, pro-crypto legislation.
The research house found that the top destination for cryptocurrency adoption is Australia, followed by the US, Brazil, the United Arab Emirates (UAE), Hong Kong, Taiwan, India, Canada, Turkey, and Singapore (in that order). ).
The percentage of the Australian population that has adopted cryptocurrencies has more than doubled since 2020, from 8% to 18%. Australians have shown increased interest in cryptocurrency, with Google searches for cryptocurrency up 196% since 2020, while the sale of cryptocurrency and other digital assets is legal and regulated in Australia.
The US ranks as the second best country for cryptocurrency adoption thanks to its large number of cryptocurrency ATMs (in this regard, the US is leading the charge for cryptocurrency infrastructure). Third is Brazil, a country that has seen a large increase in average monthly searches for cryptocurrency, highlighting a large increase in interest. The country also went from zero crypto ATMs in 2020 to 25 in 2023. A new bill signed in December 2022 legalized cryptocurrencies throughout Brazil.
When comparing countries based on the number of crypto ATMs alone, then (based on the above) the US is the standout winner with a whopping 33,639 outlets across the country, followed by runner-up Canada with 2,640. Meanwhile, a comparison based solely on the percentage of cryptocurrency adoption rate over the past three years would leave Turkey as the winner (at 40%), followed by the United Arab Emirates at 34%.
