The crypto readiness index is prepared based on a combination of factors. Not only does the government’s stance on crypto in a particular country plays an important role, but it is also based on the accessibility of crypto assets such as Bitcoin, Ethereum, Dogecoin, Cardano & co at a place.
Crypto education platform named Crypto Head has recently come up with a ranking of the countries as per their crypto accessibility. The prevalence of crypto ATMs makes it easier for customers to convert their cash into cryptocurrency that ultimately plays a role in a country getting higher or lower ranking in the crypto readiness chart.
When it comes to being most crypto ready, the United States of America has got the first rank with a 7.3 out of 10 scores. However, when it comes to the ranking according to the prevalence of crypto ATMs, the USA still tops the chart with 17,436 operational crypto ATMs in the country.
Neighboring country Canada is at 2 in the list with 1464 crypto ATMs followed by the United Kingdom and Austria.
In an earlier report about the popularity of cryptocurrency in different countries, it was Nigeria that had topped the chart with 32% of the people who participated in the survey knowing about Blockchain and owning crypto assets currently or in past or planning to do the same in future. The USA, despite being most crypto ready, surprisingly had a very low percentage of citizens having an interest in crypto.
Two Asian countries – Vietnam and the Philippines were ranked second and third respectively with crypto being popular among 21% and 20% of the participants in the same order.
The USA was placed in the bottom 3 with only 6% while the Asian giants India and China were placed in the middle of the list with 9% and 7% of their respondents knowing about cryptocurrency respectively. The report was published by Statista Global Consumer Survey using 1000-4000 people from 74 countries as a sample size.
The primary reason behind Nigeria topping the list could be the fact that Nigerians have to pay a very high fee to send money overseas which is why they turn to cryptocurrency to fulfill theirs across-the-border payment needs.
Japan and Denmark, with only 4% of their respondents showing interest in crypto were placed at the bottom of this table collectively.