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In terms of overall crypto usage worldwide, the US, Ukraine, and the UK take the top three spots

According to recent research, the United States ranks first globally in terms of overall cryptocurrency adoption, receiving a score of 7.75 out of 10.

According to data from Merchant Machine, Ukraine comes in second with a score of 5.96, followed by the United Kingdom at 5.79.

The score specifically took into account the number of cryptocurrency users in a nation, the worldwide decentralized finance (DeFi) adoption index, the number of merchants accepting cryptocurrencies, the number of Bitcoin (BTC) ATMs, and the volume of monthly cryptocurrency search phrases.

Top ten countries leading in overall use of cryptocurrencies. Source: Merchant Machine

The analysis examined a sample of several variables from 50 different countries to determine which nations invest the most in cryptocurrencies.

The study points out that the United States and the United Kingdom rank first thanks to things like the size of their economies and a developed crypto economy.

However, the report said that Ukraine, the continent’s lowest nation by GDP and GNI per capita, scores highly because of broader trends in emerging economies’ adoption of cryptocurrencies.

Additionally, with a population ownership rate of 12.73%, Ukraine tops the list of the ten nations with the most overall crypto usage.

The devaluation of the native currency in these nations’ economies forces people to buy cryptocurrencies as a store of value.

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