Top cryptocurrency list: Hong Kong positioned as the most crypto-ready country in 2022

While public approval is crucial to cryptocurrency's survival, the path to widespread crypto adoption requires governments to establish a supporting infrastructure that complements the needs of the technology and the people.

Factors like crypto ATM installations, pro-crypto policies, startup culture, and a fair tax structure all indicate a country's preparedness to embrace cryptocurrency. Taking these criteria into account, a research found that Hong Kong is the best-prepared country for broad cryptocurrency adoption, with a crypto-readiness score of 8.6. Despite having a larger crypto infrastructure than the island country, the United States and Switzerland made in the top three with lower crypto-readiness scores of 7.7 and 7.5, respectively, as seen below.

The most important parameters considered in the study to assess a country's preparedness were the number of crypto ATM installations proportional to the population and geographical extent of the jurisdiction, as well as the number of blockchain companies per 100,000 people. As a result of its smaller land mass, Hong Kong topped the list.

Countries with the most crypto ATM Installation

Data from sources shows that the United States is home to 88 percent of the world's crypto ATM installations. On the contrary, Hong Kong constructed a network of 146 crypto ATMs, accounting for only 0.4 percent of all crypto ATMs globally. Because of the city's small area, citizens of Hong Kong are never more than 4.3 miles (7 kilometers) away from a cryptocurrency ATM.

Switzerland, on the other hand, has a crypto ATM every 161.5 miles (260 km), whilst the United States has crypto ATMs every 168.3 miles (271 km).

Countries with the most interest in cryptocurrency

The efforts of a government to foster a growing crypto infrastructure are strongly dependent on investor opinion. However, investors from large economies such as Australia, Ireland, and the United Kingdom have shown the most interest in cryptocurrencies, indicating robust pro-crypto competition globally.

The above-given research indicates that the cryptocurrency industry has been growing rapidly in recent years. However, the main obstacle to any nation embracing cryptocurrencies is the regulatory framework established by the government. 

Read also: Top cryptocurrency news: Tesla Reveals BTC Holdings Worth $222M in Latest SEC Filing