London Daily

Focus on the big picture.
Saturday, Jul 12, 2025

Are these the 10 most crypto-friendly countries in the world?

Are these the 10 most crypto-friendly countries in the world?

Long gone are the times when cryptocurrency was just a niche, far-fetched revolutionary ideal for the people who dreamed of achieving social change through technology, and those who could sniff a good investment.

The hype for crypto has turned into reality, with Bitcoin - the world’s most famous cryptocurrency exchange - now counting over 180 million users globally and over 18,000 businesses across the world currently accepting cryptocurrency payments.

But cryptocurrency hasn’t taken off the same way in every country, with its adoption and use being sporadic across the world.


Which countries are crypto hubs?


A new study by Merchant Machine, a payment processing comparison website, has found that the US, Ukraine, and the UK are the top 3 countries for crypto use worldwide, based on the number of crypto owners, businesses that accept cryptos, and the amount of Bitcoin ATMs available.

The US has the second highest number of crypto owners in the world, over 27 million compared to India’s over 100 million, but the country has the highest percentage of crypto owners compared to its total population.

The number of Bitcoin ATMs across the U.S. also eclipses that of any other nation, with over 33,000 machines compared to Canada’s 2,458. By further comparison, India has only 2 Bitcoin ATMs.

The US has also one of the most powerful economies in the world, which could explain how crypto has taken off there. But the same explanation doesn’t justify why crypto has become so relevant in Ukraine.

This is the full list of the top 10 countries using crypto the most:

10. Colombia

9. Vietnam

8. The Netherlands

7. France

6. Russia

5. Thailand

4. India

3. UK

2. Ukraine

1. US


How has crypto become so relevant in Ukraine?


The reason Ukraine is the second country after the US in terms of crypto use is, unfortunately, due to the war which has been unfolding in the eastern European nation since February 24 when Russian troops invaded.

The country had started embracing cryptocurrency before the beginning of the war and was already ranked fourth for cryptocurrency adoption among its citizens in 2021 in a global index compiled by Chainalysis, a crypto research group.

But as soon as the war against Russia broke out, the Ukrainian government took the strategic decision to expand its use of crypto to support its economy.

On the second day of the war, Ukraine’s digital transformation minister Mykhailo Fedorov reportedly asked his deputy to set up official government wallets that could accept payments in cryptocurrency.

Thanks to this bold move, Kyiv has already raised more than €120 million in crypto since the beginning of the Russian invasion which has helped to support its troops and buy military supplies.


Where can you do business with crypto?


There’s a big difference between owning crypto and being able to get around with crypto, paying for goods and services with digital currency.

In fact, the Merchant Machine’s ranking of countries with the highest number of businesses accepting crypto payments in 2022 looks quite different from the ones ranking crypto adoption. The noticeable difference is the number of European cities on the list.

These are the 10 cities with the highest number of businesses accepting payments in crypto:

10. Amsterdam, The Netherlands (27)

9. Vienna, Austria (34)

8. Madrid, Spain (35)

7. Berlin, Germany (39)

6. Bangkok, Thailand (39)

5. Athens, Greece (43)

4. Paris, France (46)

3. Seoul, South Korea (47)

2. Caracas, Venezuela (58)

1. Bogota, Colombia (86)

Bogota boasts the most businesses accepting cryptocurrency.


The reason Bogota has so many businesses embracing crypto may be related to the fact that the city’s authorities announced a programme in 2021 to finance blockchain companies to turn the Colombian metropolis into a smarter city.

A budget of 2.8 billion pesos (€660,000) was devoted to funding start-ups and developing useful initiatives.

In Venezuela, on the other hand, crypto has been filling the gaps of a failing economy, as hyperinflation and US sanctions have combined to depreciate the Venezuelan currency to the point of making it almost worthless.

Elsewhere, Merchant Machine found Vietnam to be the only country with no businesses currently accepting crypto.

Newsletter

Related Articles

0:00
0:00
Close
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
×