Who is The Most Prepared Nation for Cryptocurrencies?

Who is The Most Prepared Nation for Cryptocurrencies?

The number of cryptocurrency ATMs to a country’s population and geographic area, as well as the number of blockchain companies per 100,000 people, were taken into account while determining that country’s preparedness.


The number of cryptocurrency ATM installations about the jurisdiction’s population and geographic extent as well as the number of blockchain startups per 100,000 people were the two most important variables in a study to determine a nation’s level of readiness. Hong Kong took first place on the list due to its smaller land mass.


Statistics show that 88 percent of all crypto ATM installations are situated in the United States. However, Hong Kong only installed 146 crypto ATMs or 0.4% of all crypto ATMs installed worldwide. Due to the constrained area, residents of Hong Kong are never more than 4.3 miles (7 kilometers) from a bitcoin ATM.


How Are the Rest of the World Competing?

In comparison, Switzerland and the United States each have one cryptocurrency ATM per 161.5 miles (260 km) (271 km). Cryptocurrency taxes are the main obstacles preventing the mass adoption of cryptocurrencies. Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia, and Turkey tie for the first spot for having the lowest capital gains taxes on cryptocurrencies.


Investor sentiment is a key factor in determining whether a nation’s measures to assist a burgeoning crypto infrastructure are successful. The largest interest in cryptocurrencies has come from investors in affluent countries like Australia, Ireland, and the United Kingdom, signaling fierce worldwide rivalry for cryptocurrencies.


The cooperation between Opera Crypto Browser and Coin98, a Southeast Asian-based decentralized finance (DeFi) network, strengthened its emphasis on boosting Web3 accessibility.


A statement made on Thursday stated that users of Opera’s Crypto Browser would be able to stake and lend their cryptocurrency holdings in addition to using Coin98’s array of multichain nonfungible tokens (NFTs), decentralized exchanges (DEX), cross-chain bridges, and asset swaps.