Ukraine Is the Most Crypto-Aware Country

A resent survey found that the Ukrainian population is most interested in digital assets. The USA and Russia ranked second and third, respectively.

Surpassing the Giants

BrokerChooser, a cryptocurrency brokerage firm, took into consideration several factors like the total number digital asset owners and global adoption index to determine which country is most crypto-aware.

Google searches for “cryptocurrency”, “compare cryptocurrency,” or “what cryptocurrency should I invest in?” also played a major role in the survey.

Despite financial difficulties, war problems and high poverty, the Ukrainians have been reportedly showing great interest in digital assets and topped this chart with a 7.97 (out of 10) score. Russia was ranked second by landmass, with the USA in third.

Notably, the fourth spot is held by Kenya, a country experiencing economic difficulties. It should not be surprising that people in emerging markets tend to look towards digital assets as a way to save money from currency devaluation, as evidenced by the research.

BrokerChooser pointed out that institutional investors are the main drivers of adoption in highly developed areas such as North America, Western Europe and Eastern Asia.

Ukraine ready for crypto

As digital tokens are not legal or prohibited in the ex-Soviet country, the cryptocurrency environment is confusing. Although Ukrainians are not allowed to use bitcoin and other altcoins for payment, investors and traders can trade them on local exchanges.

However, last month the local parliament passed legislation that could legitimize digital assets within Ukraine’s borders. The new legislation, once approved by President Volodymyr Zelesky, will provide protection for investors and trading venues against fraud.

Minister of Digital Transformation Mykhailo Fedorov highlighted the popularity and appeal of the asset class with the Ukrainian population. He expressed hope that an Eastern European nation could be granted legal status.

Oleg Kurchenko, CEO of Binaryx, said that the bill, if passed, “will reduce stereotypical attitudes toward cryptocurrencies and help them become regular financial instruments.” Kurchenko also expressed concern about investors being mistrustful of the state.

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