London Daily

Focus on the big picture.
Monday, Sep 15, 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
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
×