The country ahead of the US in terms of cryptocurrency adoption is named

According to analysts at Forex Suggest, Switzerland has overtaken the United States in terms of cryptocurrency adoption. The company’s report for this year showed that Hong Kong is in the first place for the second year in a row, Switzerland came in second, and the United States dropped to third.

The report lists the best countries for cryptocurrency brokers, traders, and enthusiasts. When compiling the ranking, analysts took into account various relevant factors, from the number of cryptomates and businesses in the industry to online searches, tax requirements, and the legal status of cryptocurrencies.

This year, five new countries entered the top 10. Slovenia joined Georgia in fourth place, while Canada took sixth place, moving up from 17th place. Australia moved up to seventh place. Germany ranked eighth, and Bulgaria joined Panama in ninth place. Last year, four countries ranked fourth: Croatia, Georgia, Romania and the United Arab Emirates. Of these, only Georgia remained in fourth place, while the rest left the top ten.

Several other countries failed to return to the top 10. Among them are the Czech Republic, Greece, Slovakia, and Ireland. The Netherlands had the highest number of searches for cryptocurrencies over the past year, 2524 per 100,000 people. The United States has the world’s largest number of crypto ATMs, with 9.2 per 100,000 people. However, Hong Kong has the largest number of crypto machines in terms of geographical parameters — 139.9 per 1,000 km².

At the end of August, Visual Capitalist published a ranking of EU countries in terms of cryptocurrency adoption. Slovenia topped the list of countries with the highest share of citizens investing in cryptocurrencies. According to the survey, 18% of the country’s population invests in digital assets. Croatia took second place in the ranking of cryptocurrency-friendly countries with 16%. Luxembourg, which has a reputation as a global financial center, came in third, although it is home to only 640,000 people.