According to a recent study, the population of the Eastern European state – Ukraine – is most interested in digital assets. Russia and the United States were second and third, respectively.
Pass the giants
Cryptocurrency brokerage firm BrokerChooser took into account several factors such as total number of digital asset owners and the Global Adoption Index to determine which country is the most crypto-sensitive across the globe. .
Google searches for the phrases “cryptocurrency”, “compare cryptocurrency”, “what cryptocurrency to invest in”, “cryptocurrency to buy”, “cryptocurrency trading”, “cryptocurrency trends” currency “and” cryptocurrency brokers “also played an important role in the investigation.
Despite its financial woes, wartime problems and a high percentage of poverty, Ukrainians have reportedly shown a major interest in digital assets recently and ranked first with a score of 7.97 (out of 10). The largest nation in terms of land mass – Russia – ranked second, while the largest economy – the United States – landed third.
It is worth noting that the fourth place belongs to another country which is experiencing economic difficulties – Kenya. This shouldn’t come as a surprise because, as research has pointed out, people in emerging markets often look to the digital asset industry to protect their economies in the face of currency devaluation.
On the flip side, adoption in well-developed regions like North America, Western Europe, and Eastern Asia is mostly driven by institutional investors, BrokerChooser noted.
Ukraine ready for crypto
The cryptocurrency environment in the former Soviet state is somewhat confusing at the moment, as digital tokens are neither legal nor prohibited. While Ukrainians cannot use bitcoin or altcoins as payment options for goods or services, traders and investors can buy and sell them on the country’s stock exchanges.
Last month, however, the local parliament passed a bill that could legitimize and regulate digital assets within Ukraine’s borders. Once approved by President Volodymyr Zelensky, the new legislation will provide protection for investors and trading platforms against fraud.
Mykhailo Fedorov – Minister of Digital Transformation – highlighted the popularity of this asset class among the Ukrainian population. He expressed hope that the nation of Eastern Europe could become one of those where it has legal status.
In turn, Oleg Kurchenko – CEO of the Binaryx platform – believed that if successful, the bill “will reduce stereotypical attitudes towards cryptocurrencies and help them become normal financial instruments.” There were concerns that mistrust of the state could scare some investors away, Kurchenko added.
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