UAE Emerges as the World Leader in Cryptocurrency Adoption
The UAE has been identified as the world’s most crypto-obsessed country by Atmos, scoring 98.4. This ranking is largely based on its high crypto ownership and adoption rates, despite a lack of Bitcoin ATMs. Other countries, like Canada and Turkey, showcase varied engagement with cryptocurrency, emphasizing the influence of infrastructure and economic conditions.
A recent study conducted by Atmos demonstrates that the United Arab Emirates (UAE) holds the title of the world’s most crypto-obsessed nation, achieving an impressive score of 98.4. This favorable ranking places the UAE slightly ahead of Singapore, which scored 97.5, and considerably surpasses the United States, which ranks third with a score of 85.4.
Remarkably, the UAE’s leading position comes despite its minimal infrastructure for Bitcoin ATMs, having only one ATM compared to the United States’ 29,834. The UAE attains the top spot primarily due to a robust crypto ownership rate of 25.3% and an extraordinary adoption rate of 210%.
Nick Cooke, the CEO of Atmos, asserted that “Cryptocurrency adoption is not just about investment trends. It is reshaping financial systems worldwide.” He emphasized that the alignment of regulatory clarity, payment integration, and real-world utility are essential in transforming crypto from speculation into a vital component of everyday transactions.
Following the UAE, Canada ranks fourth with a score of 72, benefiting from 3,561 Bitcoin ATMs and a crypto ownership rate of 10.1%, coupled with an adoption rate of 225%. Meanwhile, Turkey, with a crypto ownership rate of 19.3% amid economic uncertainty, ranks fifth despite its low adoption rate and inadequate ATM infrastructure, achieving a score of 67.8.
Switzerland, although having a respectable crypto ownership rate of 11.5%, receives a score of 58.1 due to its 90% adoption rate. This reflects a stable market rather than emerging interest. In conclusion, South Korea’s low score of 52.2 is attributed largely to its insufficient physical infrastructure for cryptocurrencies, suggesting room for improvement.
In conclusion, the UAE leads the world in cryptocurrency adoption, characterized by its high ownership and remarkable adoption rates despite limited ATM infrastructure. Other countries like Canada, Turkey, and Switzerland follow, each showcasing varying degrees of crypto engagement influenced by local economic factors and infrastructure availability. The study highlights a growing global trend towards the integration of cryptocurrency into everyday financial systems, propelled by increasing accessibility and regulatory clarity.
Original Source: news.bitcoin.com
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