Daylight, an analytics website that focuses on cryptocurrencies, provided data to show that the United States recorded the highest number of visits to cryptocurrency exchange platforms – with a record of over 22 million monthly visits. The United States remains by far the country with the most active cryptocurrency traders.
These figures were derived from recording the website traffic data of the 100 most popular cryptocurrency exchange platforms.
The countries of Japan and South Korea received second and third places respectively. Japanese citizens visit cryptocurrency platforms over six million times per month and South Koreans visit over five million times per month. The countries displayed in the table below refer to traders who are actively buying and selling cryptocurrencies.
Countries that have formally recognized cryptocurrencies as legal tender would logically be the countries with the most amount of cryptocurrency trading. The United States, Japan and South Korea have all adopted cryptocurrencies as financial assets that can be traded within their respective financial markets.
The other countries that made it within the top ten are The United Kingdom, Russia, Brazil, Germany, Vietnam, Turkey and Canada.
Unlike South Korea, cryptocurrency regulations in some of these other countries are less clear – as the respective governments struggle to keep up with the ever-changing cryptocurrency space. This however has not stopped citizens in these countries from accessing cryptocurrency platforms.
The instability in FIAT currency markets has opened the door for people to look at cryptocurrencies as an alternative source of wealth. Countries such as Venezuela, Mexico, Ukraine, Turkey and others are going through unstable economic changes. In times of economic instability, citizens look for alternatives and cryptocurrencies have quickly become a viable option.
Despite the growing amount of regulations being imposed on cryptocurrencies, the data shows that cryptocurrency trading is gaining in popularity and is considered as a viable alternative to trading in the traditional FIAT markets.
Data provided by: Datalight Cryptocurrency Analysis Platform
|1. USA||22,260,554||11. India||2,014,631|
|2. Japan||6,142,686||12. Ukraine||1,936,441|
|3. Korea||5,731,772||13. Australia||1,750,188|
|4. United Kingdom||3,898,222||14. Italy||1,588,534|
|5. Russia||3,183,839||15. Poland||1,586,770|
|6. Brazil||3,108,640||16. Mexico||1,446,095|
|7. Germany||2,528,541||17. Netherlands||1,331,690|
|8. Vietnam||2,482,579||18. France||1,155,364|
|9. Turkey||2,414,148||19. Spain||990,220|
|10. Canada||2,027,280||20. Indonesia||894,236|