Study: The United States Is the Most Crypto-Ready Country

The United States tops Crypto Head's crypto-ready index.

The Crypto Head cryptocurrency platform rated the United States as the most crypto-ready country for the mass adoption of digital assets, according to the study.

The platform’s analysts used data from a rating of 76 jurisdictions. It included:

• The number of Google search queries related to the topic over a year and their growth over the last 48 months;
• the number of installed cryptocurrency ATMs;
• the degree of cryptocurrency legalization by tax and financial laws.

All quantitative data were normalised to population size, and for coverage of bitcoin ATMs the area of the country was also taken into account. For all categories, experts assigned points, with a maximum possible total of 10.

The United States received a total score of 7.13 points. Cyprus and Singapore followed in second and third place with scores of 6.47 and 6.30 respectively. Hong Kong and the United Kingdom rounded out the top five.

The United States far outpaced all others in the number of cryptocurrency ATMs, with 17,436 installed devices. Canada followed with 1,464 bitcoin ATMs.

The United States also had the highest per-capita ratio of residents per crypto ATM — 19,023 people per machine. Canada’s corresponding figure stood at 26,265 residents per machine.

San Marino, the microstate with a population of 33,604, managed to occupy third place in this category with a single installed device. Japan, by contrast, with more than 125 million residents, had only one Bitcoin ATM in the country.

In Hong Kong the number of devices is 124, but due to the small area of the Hong Kong Special Administrative Region each machine covers an average of 3 square miles (~2.54 sq km) — much lower than the figures for other countries.

The highest online interest in cryptocurrencies was demonstrated by residents of Cyprus. Per 100,000 people in the last year there were almost 34 thousand searches. The next two countries with a score above 30 thousand were Singapore and Gibraltar.

In the overall ranking, some countries, such as the United States or Cyprus, received additional points for the legalisation of holding cryptocurrencies and using them by banks.

According to MiQ Digital, about 6% of residents in the United States own digital assets, and in some states user interest in cryptocurrencies in 2021 grew by more than 600%.

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