Report: Indonesia, Chile and Argentina among the top three in cryptocurrency adoption

Indonesia, Chile and Argentina lead cryptocurrency popularity, per Coinformant.

The greatest interest in cryptocurrencies is shown by residents of Indonesia, Chile and Argentina. This finding is contained in the ranking by the blockchain-education startup Coinformant.

Analysts compiled a ranking of countries based on four factors:

• the volume of Google search queries;
• the number of publications devoted to digital assets;
• the share of cryptocurrency holders in the total population;
• the number of clicks on specialised content.

Each country was assigned a normalised score of up to 10 for each factor, after which their average was calculated.

Indonesia posted the highest total score (5.73). Chile took second place (5.26), Argentina (4.79) third.

In terms of search query volume, Chile showed the most significant relative growth (707%), by the number of publications — Finland (725.7%), by engagement — Indonesia (1,772%).

In terms of the share of cryptocurrency owners among the total population, Ukraine led by a wide margin at 12.73%, versus 9.04% for Singapore in second place on this criterion.

In the overall ranking, Ukraine, with 3.57 points, ranked 17th. Other post-Soviet states do not appear in the ranking.

Ukraine and Russia ranked 4th and 18th respectively in Chainalysis’s Global Crypto Adoption Index for 2021.

Earlier, researchers said that Eastern Europe has emerged among the leaders in the number of crypto transactions, linked to illicit activity.

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