Crypto ATMs, government attitudes and interest among consumers all contributed to the final scores.
A new survey has revealed which countries are most prepared for the widespread adoption of cryptocurrencies.
The U.S. topped the list with a score of 7.13 out of 10. Cyprus was second with a score of 6.47, Singapore third on 6.3, Hong Kong fourth on 6.27, and the U.K. fifth on 6.06.
A number of metrics were taken into account for the Crypto Ready Index. They included how many crypto ATMs a country had, whether they could easily be accessed by the population, and the government’s attitude toward digital assets more generally. Online search traffic about cryptocurrencies was also taken into account.
Crypto Head, which performed the research, said the U.S. leads the way when it comes to the rollout of crypto ATMs — with 17,000 dotted across the country. There has also been a 140% increase in searches for cryptocurrency in the States over the past year.
Cyprus saw similar increases in the number of search queries. Overall, 33.9% of the population Googled for information about crypto — the highest worldwide.
While Singapore is home to 10 crypto ATMs, Hong Kong is home to 124. On average, this means that there is one every three square miles, and one for every 60,000 people.
Rounding off the 10 most crypto ready countries were Ireland, Slovenia, Australia, Germany and Canada.