Despite global regulatory challenges, Canada shows strong crypto engagement, ranking eighth worldwide
Cryptocurrencies have significantly grown in popularity recently, with global crypto ownership increasing from 432 million to 580 million in 2023, according to Crypto.com.
While some countries have attempted to regulate and suppress technological advancements, others have embraced the growth of these new industries.
Canada ranks eighth among the world’s most crypto-friendly countries, demonstrating notable adoption rates and engagement with cryptocurrency platforms.
The research, conducted by CryptoCasinos, utilized ten metrics to evaluate crypto friendliness across nations.
These metrics include the percentage of the population holding cryptocurrency, the cost and profit of mining one Bitcoin, and the search volume per 100,000 people for crypto-related keywords.
Additional data considered the percentage share of each country's traffic to major crypto exchanges such as Binance, Coinbase, BitFinex, Kraken, Kucoin, and OKX.
In Canada, 7 percent of the population currently holds cryptocurrency, and there are 1,204 searches for crypto-related keywords every month per 100,000 people. Canada also accounts for 8.4 percent of website traffic to Kraken, indicating a strong engagement with crypto exchanges.
Globally, Argentina leads as the most crypto-friendly country, with 9.7 percent of its population holding cryptocurrency. The United States follows, with 15.6 percent of its population engaged in crypto, though at higher mining costs.
Other notable countries include Colombia, Ukraine, and the United Arab Emirates, each showing substantial crypto adoption and activities.
A spokesperson from CryptoCasinos commented on the broader implications of this trend, saying, “Global crypto adoption represents a seismic shift in how we perceive and interact with many industries, especially finance. It's about reshaping economies, empowering individuals, and democratizing access to financial services on a scale never seen before.”
Despite challenges such as regulatory uncertainties and security concerns, the spokesperson emphasized that momentum is building across key nations, with crypto being increasingly embraced by people, businesses, and governments worldwide.
