Cryptocurrencies were introduced to the world as a replacement for regular currencies. After almost a decade, this vision seems to be coming to light. Many countries over the world start accepting crypto payments.
At the moment, the United States is the only country in the world that is “crypto-ready” according to a publication by Crypto Head which is a crypto education platform. This means that among all the countries, the US is very close to making cryptocurrencies an acceptable form of payment.
The research for the report was conducted by considering the number of crypto ATMs in all counties. Their accessibility was also taken into consideration. Moreover, the survey data also checked the legality of crypto trading in countries and whether or not banks can use it. It also took into account internet searches related to “crypto-ready” in around 200 countries.
The US placed at number one and had a crypto-ready score of 7.13 out of 10. Cyprus followed the second rank while Singapore placed at the third position. Both countries scored under the value of 6.50. The research is limited by certain factors such as lax laws and regulatory environments. So, many factors that could affect the scope of crypto readiness were not taken into account.
According to the report, in the US, there are about 17,436 crypto ATMs. This number is around 16,000 more than Canada which is ranked as 2nd in the category.
Moreover, the number of crypto ATMs is increasing in the US. Bitcoin ATM companies such as Coin Cloud are increasing the number of installations in the country. This increase in the installation of machines is due to the ever-growing popularity of bitcoin being used as a means of payment.
Crypto Head also looked at the number of people that used every installed ATM. The US also ranked as number one in this category. It was found that there is a crypto ATM for every 19,023 people across the nation. Canada took second place with its ratio of an ATM per every 26,265 people. Japan was the last ranked country in this category as it only has one ATM for its 126 million citizens.