Ukraine is the most crypto-aware country, followed by Russia and the USA: survey

Ukraine is the most crypto-aware country, followed by Russia and the USA: survey

According to a recent study, the population of the Eastern European country – Ukraine – is most interested in digital assets. Russia and the USA took second and third place.

Outperform the giants

Cryptocurrency brokerage firm BrokerChooser took into account several factors such as the total number of digital asset owners and the global adoption index to determine which is the most crypto conscious country in the world.

Google searches using the terms “cryptocurrency,” “compare cryptocurrency,” “which cryptocurrency to invest in,” “buy cryptocurrency,” “cryptocurrency trading,” “cryptocurrency trends,” and “cryptocurrency brokers” also played a significant role in the survey.

Despite financial problems, war problems and a high percentage of poverty, Ukrainians have reportedly shown great interest in digital assets recently, topping the list with 7.97 points (out of 10). The largest nation by area - Russia - came in second place, while the largest economy - the USA - came in third place.

It is worth noting that the fourth place belongs to another country with economic difficulties - Kenya. This should come as no surprise since, as the study shows, people from emerging markets often look to the digital asset industry to protect their savings in the face of currency devaluation.

On the other hand, adoption in well-developed areas such as North America, Western Europe and East Asia is primarily driven by institutional investors, BrokerChooser noted.

Ukraine ready for crypto

The cryptocurrency environment in the ex-Soviet state is currently a bit confusing, as digital tokens are neither legal nor banned. While Ukrainians cannot use Bitcoin or altcoins as payment for goods or services, traders and investors can buy and sell them on exchanges in the country.

Last month the local parliament passed a bill that could legitimize and regulate digital assets within Ukraine's borders. After being approved by President Volodymyr Zelensky, the new law offers investors and trading venues protection against fraud.

Mykhailo Fedorov – Minister of Digital Transformation – highlighted the popularity of the asset class among the Ukrainian population. He raised hopes that the Eastern European nation could become one of those with legal status.

For his part, Oleg Kurchenko – CEO of the Binaryx platform – said that if the bill is successful, it will “reduce stereotypical attitudes towards cryptocurrencies and help them become normal financial instruments.” There are fears that distrust of the state could drive away some investors, Kurchenko added.

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