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US, UK and Ukraine ranked as the top 3 countries in terms of over all usage of cryptocurrency

US, Ukraine and UK lead the ranks in the overall use of cryptocurrency across the globe, while India stands surprises everyone at 4th position

  • US, Ukraine and UK lead the rooster, for the most used cryptocurrency countries across the globe
  • Ukraine placed over UK mainly because of the war against Russia, which also serves as the main reason for Russia to be at 6th position
  • India’s growth in the cryptocurrency market
  • Cryptocurrency’s dominance all over the world

 

US Ukraine and UK lead the rooster, for the most used cryptocurrency countries

According to a survey conducted by Merchant Machine, it was observed that US, Ukraine and UK came at 1st, 2nd and 3rd positions respectively, for the overall usage of cryptocurrency in the world. According to a study, it was found that, the United States ranked first globally in terms of overall cryptocurrency adoption, receiving a score of 7.75 out of 10. According to information provided to Finbold by Merchant Machine on August 22, Ukraine comes in second with a score of 5.96, followed by the United Kingdom at 5.79.

The main reason for US’s domination in cryptocurrency market, is without a doubt the tech friendly investors as well as the platform that the US provided for cryptocurrency to grow. UK on the other hand is also a super power when it comes to cryptocurrency usage rate and only falls down to Ukraine due to the recent boost of cryptocurrency in Ukraine.

Ukraine’s gain and Russia’s loss

The war which started between Russian and Ukraine has had staggering affects on the world economy. Not only that, the cryptocurrency market also saw major shifts happening due to the war. As Ukraine, got into a war with Russia, many donations and financial aids to Ukraine were being done via cryptocurrencies, which is the biggest reason for the high overall usage of cryptocurrency in the country. In contrast, as the world stood against Russia, the over all usage of Russia slipped ranking it at 6th position.

India’s growth in the market

Though cryptocurrency is not officialized by the RBI, India stands in a good position in over all usage of cryptocurrencies. This shows the trust that the Indians have in the cryptocurrency industry and also shows that they are willing to risk their investments against the want of the RBI.

Cryptocurrency’s dominance in the world

Cryptocurrency's dominance

Credits: Euronews

Cryptocurrency has surely set its pursuit to dominate the financial sector of the world. According to many critiques cryptocurrency is the only one that’s going to revolutionize the global financial market. The only barriers in its way are regulation issues and volatility issues.

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