Is the U.S. the World’s Most “Crypto-Ready” Country?

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  • According to the “Crypto-Ready Index,” the United States is the most “crypto-ready” nation worldwide.
  • The U.S. managed to score 7.3 out of 10 in the Crypto Head index.
  • Following the U.S., other crypto-ready countries are Cyprus, Singapore, Hong Kong, and the U.K., respectively.

According to the “Crypto-Ready Index,” an index by the education platform Crypto Head that analyzes different metrics in order to find the most promising countries with respect to cryptocurrencies, the United States is the most “crypto-ready” nation worldwide.

The study takes into account several metrics that have the most influence on the adoption of cryptocurrencies around the globe, including the number of crypto Google searches, the percentage of increase or decrease of the Google searches, a certain government’s official stance regarding cryptocurrencies, and tax and legislation regarding crypto-related businesses.

Among all metrics, crypto ATMs seem to have the most influence. “A cryptocurrency ATM works in a very similar way to a normal ATM except you are connecting to a cryptocurrency account rather than a bank and you can use crypto ATMs to buy cryptocurrency or to sell it and withdraw cash,” the research defines crypto ATMs.

The U.S. is Most Prepared For Crypto

Combining all the metrics mentioned above, the “Crypto-Ready Index” formulates its score out of ten, while taking into consideration 200 countries and nations across the world. As per data by the report, the U.S. ranked #1 in the list and scored 7.3 out of 10 in the Crypto Head index.

Among all metrics, the U.S. is most impressive in terms of the number of crypto ATMs. The United States reportedly has more than 17,000 crypto ATMS across all the states, still ahead of the #2 countries in terms of crypto ATMs (Canada) by a large margin — Canada has around 1,400 crypto ATMs.

In addition, the report reveals that the annual crypto Google search per 100,000 U.S. residents is 14,796, or around 15%. In 2021, the crypto Google search in the U.S. increased by 140%, which is more than double.

However, in terms of the government’s stance regarding cryptocurrencies, it greatly differs from state to state mainly because of the fragmented legal system in the country. In other terms, some U.S. states have evolved to be impressively crypto-friendly, while others endure neutral to hostile stances.

Among crypto-friendly states, Texas, California, Ohio, Colorado, and Wyoming stand out. A couple of weeks ago, Texas announced that it will allow banks to store their customer’s crypto assets.

Aside from the U.S., Cyprus, Singapore, Hong Kong, and the United Kingdom constitute other top 4 crypto-ready countries, respectively. While Cyprus has no crypto ATMs, its people seem to have the most interest in cryptocurrencies — the number of annual crypto Google searches per 100,000 people in the country reaches 33,941.