Despite the fact that the cryptocurrency industry is growing at an unprecedented rate, there are still a significant number of countries that have yet to fully embrace cryptocurrency.
There are 105 nations that recognize cryptocurrencies, but some are not the biggest supporters of digital currency. New to research from Forexsuggest shared with Finbold that reveals the countries with the slowest adoption of crypto – from crypto ATMs to landlords.
Specifically, the research looked at data on cryptocurrency owners, cryptocurrency ATMs, and annual cryptocurrency searches in each country to determine which countries are the most anti-crypto in the world.
Saudi Arabia, which has a cryptocurrency, has quasi-legal status; Although there is no limit on who buys crypto, banks have implemented a permanent ban on cryptocurrency transactions since 2018. Only 1.48% of Saudis own cryptocurrency, which gives an anti-crypto score of 8.83/10, ranking it at the top.
With a score of 8.50, Denmark is the second most anti-crypto country. With no bitcoin ATMs in the country and only 1.39% of people owning cryptocurrency, it seems Danes are still unsure of the potential benefits that digital and decentralized currencies could offer.
Iceland has a crypto adoption score of 0
Iceland got an anti-crypto score of 8.30 overall. Only 1.01% of Icelanders own crypto, and there are no Bitcoin ATMs, while the Nordic country received a score of 0 on the Crypto Adoption Index.
With only 1.01% of the population owning cryptocurrencies, Iceland has the lowest percentage of cryptocurrency ownership in the OECD, indicating that digital currencies have yet to reach a large popularity with the general public. Due to a lack of hydroelectric power supply, Iceland even went to the extreme measure of cutting off the power supply to Bitcoin miners.
Japan is the country with the lowest number of searches for crypto-related phrases per person than any other country in the world.
Only 8,796 crypto-related searches are performed per million people in Japan, which is less than 2,000 searches per million people less than second-placed India.