Ukraine Is the Most Crypto-Aware Country Followed by Russia and the US: Survey

According to a resent research, the population of the Eastern European state – Ukraine – is the most interested in digital assets. Russia and the USA ranked respectively second and third.

Surpassing The Giants

The cryptocurrency brokerage firm BrokerChooser took into account several factors such as the total number of digital asset owners and the global adoption index to determine which is the most crypto-aware country across the globe.

Google searches with the phrases “cryptocurrency,” “compare cryptocurrency,” “what cryptocurrency to invest in,” “cryptocurrency to buy,” “cryptocurrency trading,” “cryptocurrency trends,” and “cryptocurrency brokers” also played a significant role in the survey.

Despite its financial problems, war issues, and a high percentage of poverty, Ukrainians have reportedly shown major interest in digital assets recently and topped the chart with a 7.97 score (out of 10). The largest nation by landmass – Russia – ranked second, while the biggest economy – the USA – landed in the third position.

It is worth noting that the fourth place belongs to another country that experiences economic difficulties – Kenya. This should not come as a surprise since, as the research outlined, people from emerging markets often turn their sight towards the digital asset industry to protect their savings in the face of currency devaluation.

On the other hand, adoption in well-developed areas like North America, Western Europe, and Eastern Asia is powered mainly by institutional investors, BrokerChooser noted.

Ukraine Ready for Crypto

The cryptocurrency environment in the ex-Soviet state is somewhat confusing, as of the moment, since digital tokens are neither legal nor prohibited. While Ukrainians cannot use bitcoin or the altcoins as payment options for goods or services, traders and investors can buy and sell them on exchanges within the country.

Last month, though, the local parliament passed a bill that could legitimize and regulate digital assets within Ukraine’s borders. Once approved by President Volodymyr Zelensky, the new legislation will offer protection to investors and trading venues from fraud.

Mykhailo Fedorov – Minister of Digital Transformation – highlighted the popularity of the asset class among the Ukrainian population. He raised hopes that the Eastern European nation could become one of those where it has legal status.

In his turn, Oleg Kurchenko – CEO of the platform Binaryx – opined that if successful, the bill “will reduce stereotypical attitudes towards cryptocurrencies and will help them become normal financial instruments.” There was a concern that mistrust of the state could drive some investors away, Kurchenko added.