Ukraine, Russia and Venezuela – world leaders in cryptocurrency implementation

Chainalysis has released the Global Crypto Adoption Index 2020 report, which contains a rating of the use of cryptocurrencies by variouscountries. The results were surprising.

According to the report, the first three places went tovery unexpected countries. Ukraine took first place, followed by – Russia. Third place went to Venezuela, which has supported the cryptocurrency for several years, although the government continues to insist that its citizens buy and use Petro exclusively.

At the same time, the Ukrainian Ministry of Digital Transformation has already published this news on its website, without waiting for the official report of the company.

Chainalysis experts conducted an assessment withusing three different indicators – the value of crypto transactions, weighted by PPP (purchasing power per capita), the number of online deposits relative to the number of Internet users in the country, and the value of retail transfers, which were also weighted by PPP.

In addition, the index also includes the trading volume set on P2P exchanges. However, this figure is weighted by PPP as well as the number of Internet users in each country.

Some countries find themselves in unexpected placesrating. For example, China is in fourth place. The country has a rather large population, and it is for this reason that it has found itself in a low rating, although the number of its cryptocurrency users significantly exceeds the number of users in other countries.

On the other hand, Venezuela and Kenya are in the top 5 of the ranking, although most indicators lower them to the countries of the second ten.

At the same time, there is not a single Western European country in the report that would be included in the list of countries with the largest number of cryptocurrency transactions.

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