Some time ago, even the crypto market collapsed due to the policies introduced by the United States, as the country often displays negative sentiment towards cryptocurrencies. Yet, according to a new report by the crypto education platform “Crypto Head”, the United States is the most “crypto-ready” country.
The most favorable country for cryptocurrencies
In calculating an index ” ready for Crypto ” by the index Crypto Ready 2021 Crypto Head for 200 countries and territories, the United States was ranked first, with a score of preparation Encryption 7.13 on 10. With Cyprus and Singapore in 2nd and 3rd place, scoring less than 6.50.
This proves that the United States legally allows the ownership of cryptocurrencies and their use in banks. The possession of cryptocurrencies by US citizens has increased dramatically.
“US law allows crypto ownership and its use in banks, and there has been a 140% increase in searches for crypto in the past year. “
For your information, Crypto Head's 2021 Encryption Readiness Index takes into account:
- the number of crypto ATMs in each country and their accessibility,
- the legality of the encryption,
- whether banks can use it and
- the number of online searches for related terms.
US: world leader in the automatic distribution of Bitcoins
According to data collected by Crypto Head, the United States has 17,436 crypto ATMs, almost 16,000 more than Canada, the second country in the category.
This number is growing rapidly in the United States, as Bitcoin ATM companies like Coin Cloud are rapidly expanding their facilities nationwide. This growth highlights the growing popularity of Bitcoin as a payment method.
In addition to the number of ATMs, Crypto Head also looked at the number of people at each ATM.
The United States also ranks first in this regard, with one crypto ATM for 19,023 people.
While Canada has an ATM for 26,265 people. Although there are no cryptocurrency ATMs in 24 countries/regions, Japan ranks last with a Bitcoin ATM in its population of 126 million.
Cryptographic interest for each country
Finally, Crypto Head also compared the number of online cryptocurrency searches with data from the previous year to show the growing interest of people in each country.
Cyprus ranked first with almost 34,000 encrypted searches per 100,000 people, an increase of almost 137% from the previous year.
Interest in encryption is also growing rapidly in many countries.
Romania registered the highest increase from one year to the other search volume encrypted with 331%, followed by countries such as Greece, Canada, the United Kingdom, and Saudi Arabia.
During Donald Trump's administration, the United States took a firm stance on cryptocurrencies. However, with President Biden, the United States' stance softened and one of the legislators supporting crypto, Gary Gensler, was appointed to head the Foreign Exchange and Securities Commission (SEC). With this news, some mining companies have even gone around the table to expand their Bitcoin mining operations into states like Blockware Mining.