There are 105 countries worldwide that recognise cryptocurrency, but a small handful which aren’t the biggest fans of the digital currency. So what are the top countries that are anti-crypto?
The study from Forexsuggest analysed data of crypto owners, crypto ATMS and annual crypto searches in each country to discover the most anti-crypto countries in the world.
• Cryptocurrency in Saudi Arabia has a quasi-legal status. Although there are no restrictions for individuals to purchase crypto and bitcoin, banks have made a permanent ban on transactions involving cryptocurrencies from 2018. Only 1.48% of Saudis population own crypto amounting to an anti-crypto score of 8.83/10.
• Denmark is the second most anti-crypto country with a score of 8.50. With no Bitcoin ATMs in the country at all and just 1.39% of people owning any crypto, it seems like the Danish people are yet to be fully convinced of the potential benefits that digital and decentralised currencies can offer.
• Iceland received an overall anti-crypto score of 8.30. Just 1.01% of Icelanders own any cryptocurrency, and there are no Bitcoin ATMs, while the Crypto Adoption Index saw the Nordic nation earn a score of 0.
• Also scoring 8.30 out of 10 and placing in joint-third place is Namibia. Namibia is amongst the places with the lowest interest in crypto, with just 13,782 searches per million people.
Further insights include:
• Iceland has the lowest rate of crypto ownership in the OECD at just 1.01%, indicating that digital currencies are yet to become widely popularised among the general population. Iceland even took the step of cutting power supplies to Bitcoin miners due to a shortage of hydro energy supplies.
• Japan has the fewest searches for crypto-related terms per head than any other country. With only 8,796 searches per million people, the Japanese perform just under 2,000 fewer crypto searches than second place India.
• India has the second lowest rate of crypto searches at 10,755 per million people, suggesting that people in the country are much less interested in finding out more about cryptocurrency and its applications.