Bitcoin ATM Research: U.S. Most Prepared for Broad Crypto Adoption

Bitcoin ATM Study: U.S. Most Ready for Broad Crypto Adoption


  • The U.S., Cyprus, and Singapore are the highest three international locations for cryptocurrency adoption, in response to a brand new survey.
  • Researchers examined the variety of ATMs, authorized coverage, and Google searches for crypto, amongst different metrics.

The U.S. has come first in a brand new research that examines how ready international locations are to undertake Bitcoin and different cryptocurrencies. 

The analysis, by academic platform Crypto Head, checked out 200 international locations and analyzed their readiness to just accept cryptocurrencies utilizing metrics together with the variety of crypto ATMs in every nation and their accessibility; governmental authorized stance on the possession of cryptocurrencies; whether or not or not crypto belongings are accepted by banks and the variety of on-line searches for cryptocurrencies.

The info, published on Thursday, covers the interval Could 2020 to April 2021, combining the scores for all the classes to emerge with a ‘crypto-ready rating’ (out of ten.) 

The international locations coated embody territories, comparable to Hong Kong. Information from CoinATMRadar was used to reach at ATM figures, and international locations have been awarded a most of two factors for his or her legislative insurance policies, one when crypto use was allowed by people, and one other when it was accepted by banks. 

The ten most crypto-friendly international locations. Picture: Coin Head.

The united statescame a definitive first within the rankings, with a crypto-ready rating of seven.13. Significantly within the proliferation of crypto ATMs—which now quantity over 19,000—the US is main the way in which. US regulation additionally permits for possession of Bitcoin and its use in banks. The research additionally discovered that there was a 140% improve in searches for cryptocurrency prior to now 12 months.

The subsequent most crypto-ready nation was Cyprus, which scored 6.47. The Mediterranean island noticed crypto searches soar—round a 3rd of its inhabitants has carried out a crypto-related search over the previous 12 months. The research discovered that 33,941 folks out of 100,000 looked for cryptocurrencies—the best degree of curiosity on the earth.

Singapore comes third, scoring 6.3. The nation was bested by Cyprus, but in addition has over 30,000  crypto searches per 100,000 folks. And, whereas there are solely crypto ATMs in Singapore, as a result of it’s so small, that equates to an ATM each 28 sq. miles.

However Hong Kong’s rating, at 6.27 is just not far behind. With a inhabitants of seven.5 million crammed into 500 sq. miles, it’s some of the densely populated locations on the earth, and so additionally has a excessive focus of crypto ATMs. 

Nonetheless, whereas it might be crypto-friendly now, Hong Kong is more and more seeing China assert its management over the territory—and the Chinese language authorities is at the moment cracking down on crypto. And, for the reason that analysis was performed, regulators within the UK, the fifth most crypto-ready nation surveyed, have turned up the warmth on crypto companies. And within the U.S., regulators are “sprinting” to construct out complete crypto rules.

Research are discovering it laborious to remain in line with the quickly shifting regulatory tides on this nascent asset class.

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