Cryptocurrency has continued to increase in popularity all around the world, with many countries legalising the currency and adopting infrastructure to make the digital tender more accessible.
New research from HedgewithCrypto reveals which countries have led the crypto adoption charge over the past three years. The new ranking compares (on a national basis) the number of crypto ATMs in each destination, the percentage of the population adopting crypto, online interest in crypto and, lastly, pro-crypto legislation.
The research house found that the top destination for crypto 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 Australia’s population that has adopted crypto has more than doubled since 2020, rising from 8% to 18%. Australians have shown an increased interest in crypto, with a 196% rise in Google searches for crypto 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 crypto adoption thanks to its huge number of crypto ATMs (in this sense the US leads the charge for cryptocurrency infrastructure). Ranking third is Brazil, a country that has seen a huge increase in average monthly searches for crypto, thereby highlighting a huge uptick in interest. The country has also gone from zero crypto ATMs in 2020 to 25 in 2023. A new bill signed in December 2022 legalised cryptocurrency throughout Brazil.
When comparing countries based only on the number of crypto ATMs, then (as per the above) the US is the standout winner with a whopping 33,639 outlets across the nation, followed by runner-up Canada with 2,640. Meanwhile, a comparison based solely on crypto adoption rate percentage over the past three years would leave Turkey as the winner (at 40%), followed by the UAE with 34%.
