Crypto Adoption: Pakistan Leads, India Lags Behind; US Ranks Second

Pakistan ranks 10th and India 11th in the list of most crypto-friendly nations, with Argentina leading the pack.

  • Pakistan ranks 10th and India 11th in the list of most crypto-friendly nations, with Argentina leading the pack.
  • The United States secures the second spot in crypto adoption, despite challenges like high mining costs.
  • Crypto ownership worldwide surged from 432 million to 580 million in 2023, reflecting growing popularity.

In the realm of cryptocurrency adoption, Pakistan has surpassed India, claiming the 10th spot among the most crypto-friendly nations, while India trails closely behind at the 11th position. While Pakistan’s crypto landscape remains unregulated, India operates within a regulatory grey area, with no centralized oversight governing cryptocurrency transactions.

The United States secures the second position in crypto adoption globally, boasting a large population actively involved in cryptocurrency trading and investment. However, challenges such as high mining costs per bitcoin, amounting to $87,885, pose hurdles for miners in the country. Despite regulatory impositions and concerns, the US continues to attract a significant portion of global crypto traffic, maintaining its status as a prominent hub for crypto enthusiasts.

The surge in crypto ownership worldwide, as reported by Crypto.com, underscores the increasing popularity and acceptance of cryptocurrencies. While some nations like Argentina embrace favorable conditions for crypto miners and traders, others like India grapple with regulatory ambiguities and taxation policies. As the global crypto landscape evolves, countries navigate between supporting technological advancements and addressing security concerns associated with cryptocurrencies.