A recent survey was conducted to determine the countries in Europe that are highly crypto-obsessed. In this article, we will delve into it and uncover the top 3 European countries that are most excited about cryptocurrencies.
In the realm of modern finance and technology, a captivating revolution has been blossoming — the rise of cryptocurrencies. These digital assets, often regarded as the future of currency, have garnered considerable attention worldwide. However, the level of fascination and involvement in the world of cryptocurrencies varies from one region to another.
In the heart of Europe, a continent known for its rich cultural complexity, historic landmarks, and diverse economies, a distinct trend has emerged: the obsession with cryptocurrencies.
Let’s embark on a journey to discover which European countries have embraced the allure of cryptocurrencies most fervently and delve into the factors fueling this fascinating phenomenon.
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Top 5 Most Crypto-Obsessed Countries in Europe
As we explore more about cryptocurrencies in Europe, one thing is clear: every country has its own way of managing these digital currencies. The rules and laws they’ve made about cryptocurrencies are not the same everywhere.
CryptoGambling.tv – a cryptocurrency gambling and trend website, recently carried out research to determine the countries in Europe with the most crypto searches monthly as well as the number of people that engage in the search.
Per the report, the European countries with the most crypto obsession are:
- Slovenia
- Luxembourg
- Netherlands
- Finland
- Turkey
Slovenia
The Central European country sits at the top of the list as the nation with the most crypto obsession according to the report. Slovenia is popular for its mountains and lakes. However, it seems like the country has added another feature to its list.
The survey which is based on searches as a percentage of the population ranks Slovenia at the top of the list. According to the research, Slovenia with a population of 2,087,946 carried out a total of 100,000 (100 thousand) crypto-related searches per month which totals about 1.2 million crypto searches in the last 12 months.
The report puts Slovenia at the top with 4,789 crypto searches for every 100,000 people which is more than any other country in Europe.
Luxembourg
The second European country on the list is Luxembourg. Situated in Western Europe, Luxembourg is surrounded by Belgium, France, and Germany. Even though the small country is mostly rural, it seems to have embraced the urban new technology in cryptocurrencies.
According to the reports, Luxembourg with a population of 645,397 records an average of 17,000 cryptocurrency-related searches per month. Ultimately, for every 100,000 people, there is a total of 2,634 crypto searches. Consequently, Luxembourg is the second most crypto-obsessed country in Europe.
Netherlands
The Netherlands ranks third on the list. The Northwestern European country is popular for its flat landscape of canals, and cycling routes, and is home to the Van Gogh Museum located in the capital city of Amsterdam.
CryptoGambling.tv report shows that the Netherlands with a population of over 17 million people carried out an average of 452,000 crypto-related searches per month which in itself is more than the number of searches of Slovenia and Luxembourg combined. However, looking at the number of cryptos searches monthly per 100,000 people, the country only records about 2,608.
Finland
Officially known as the Republic of Finland is a country in Nothern Europe. Finland shares borders with Sweden, Norway, and Russia. The 18th-century sea fortress Suomenlinna is located in its capital city of Helsinki.
Per the report, the country sits in the fourth position. Finland recorded an average of 135,000 crypto-related searches per month with a population of over 5.5 million people. This means that for every 100,000 people, there are about 2,446 crypto-related searches.
Turkey
The Republic of Turkey is a transcontinental country that is mostly located in Western Asia with a little portion of it in Southeastern Europe resting on the Balkan Peninsula.
Even though cryptocurrency is not yet recognized as a legal tender in Turkey, an impressive number of Turks still own cryptocurrency. The report shows that Turkey, with a huge population of over 83 million people carries out 1.9 million cryptocurrency-related searches per month. However, for every 100,000 people, there are only about 2,277 crypto searches.
Despite the increasing awareness, there are still differences in how much people in European Union countries invest in crypto. Now, let’s find out which countries have the most citizens who are into crypto investments.
Source: visualcapitalist.com
Most Traded Cryptocurrencies in the World
Bitcoin is the biggest cryptocurrency when it comes to how much it’s worth. It’s even used as real money in two countries, El Salvador and the Central African Republic.
Because Bitcoin is so well-known and has been around for a long time, many people like to use it for investing, business, and trading all over the world. New things like the Bitcoin Lightning Network and Bitcoin ATMs make it easier for people in different places to use Bitcoin.
Even though Bitcoin remains dominant, stablecoins are also gaining traction among crypto investors. A stablecoin is a crypto asset with a stable price. It has its value pegged to another currency like the United States dollar. Some examples of stablecoins include Tether USDT and USDC.
Ethereum is also one of the most traded cryptocurrencies in the world. It is more than a digital currency. Ethereum is also the most popular blockchain technology that has many well-known crypto projects built on it.
In the past few years, almost every country in Europe, and across the world, has been trying to get involved in cryptocurrency and have been trying to create regulations surrounding the nascent asset class.
Governments initially wanted to limit and control cryptocurrencies, but because so many people are interested, they are working hard to find a middle ground and solutions.
Countries started realizing that cryptocurrencies were affecting their economies, and they began discussing it openly. In some places, the rules about cryptocurrencies have become more flexible.
Ranked: Crypto Popularity Across European Union Nations 🇪🇺
This piece by @GilbertFontana is part of Visual Capitalist’s Creator Program, featuring work from the world’s top data-driven talent ✅https://t.co/dcjsAukBH6 pic.twitter.com/MUDCA0Vd0e
— Visual Capitalist (@VisualCap) March 3, 2023
Ultimately, the findings show that people in Europe and around the world are inspired to create and feel part of the growing technology. This change indicates a shift in how users participate, feel empowered and take ownership in online communities, which is known as Web3.
Sandra Klimenko
I write about cryptocurrency, blockchain technologies, and artificial intelligence in a way that's easy for everyone to understand. My articles are interesting and use simple communication to ensure accessibility for all readers.