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Ukraine is located on the second place after the United States in the list of the most active countries for the adoption of cryptocurrencies
Ukraine is second only to the United States in terms of cryptocurrency adoption activity. This is reported in the results of a study conducted by the web portal Merchant Machine.
According to published data, in Ukraine the number of crypto investors in per capita terms is 12.7%. This is the highest figure, ahead of even the United States. However, compared to the United States, a little more than 40 bitcoin machines are deployed in Ukraine (against more than 33,000).
Merchant Machine also found that the monthly number of cryptocurrency searches among the population of Ukraine is significantly lower (2894) than that of the United States (35,468) or the UK (21,183). Despite this, there are significantly more companies in Ukraine that accept cryptocurrency (26).
The Russian Federation in the list is located in sixth place, behind India, Thailand and the UK. At the same time, in the Russian Federation, the number of companies accepting cryptocurrency was even greater than that of Ukraine (27).
According to the researchers, the widespread use of cryptocurrency in Ukraine may be due to the emerging market. Many emerging markets are struggling with currency devaluation, which is pushing citizens to invest in cryptocurrency to preserve savings, analysts say. The study, as noted by Merchant Machine, took into account the results of market indicators conducted by Chainalysis.
Recall that back in August 2021, Chainalysis specialists found out that the top 3 countries for the adoption of cryptocurrencies included: Vietnam, India and Pakistan. Ukraine then took the fourth place, and Russia – the eighteenth, ahead of only Tanzania and Afghanistan.
About why the restrictions of the National Bank of Ukraine on the purchase of cryptocurrencies hardly hit the volume of hryvnia in the crypto market – read in the material of the editors of BeInCrypto.
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