Top 4 European Countries Ranked by Cryptocurrency Adoption

When it comes to determining the popularity of cryptocurrencies in Europe, it seems things are not looking all that great. For some reason, the continent has not seen much cryptocurrency-related activity, although things are not as dire as one might think. A new report by BitPanda confirms several countries note decent adoption rates in this regard, albeit there is still a very long way to go.

Switzerland Tops the Chart

Not too many users and enthusiasts will be surprised to learn that Bitcoin and other cryptocurrencies are gaining some traction in Switzerland. Unlike most other countries in Europe, Switzerland has some form of cryptocurrency regulation which seemingly allows the industry to thrive. Especially the Zug region has become of great interest in this regard, albeit it remains to be seen if similar activities will gain a foothold in other parts of the country. 

As part of the BitPanda survey, it seems that 7% of internet users taking part in this questionnaire own or hold any cryptocurrency in this day and age. Interestingly enough, 14% of asset holders in the country also own cryptocurrency, which seems to indicate speculators and investors are diversifying their holdings accordingly. Zurich is also one of the most popular cryptocurrency cities in all of Europe, which only makes the importance of this region even more apparent. 

Austria Isn’t far Behind

Considering the relative proximity of Switzerland and Austria on a map, it is not abnormal to see both countries note similar interest in Bitcoin and altcoins. BitPanda’s survey confirms 7% of internet users own cryptocurrency, which is on par with Switzerland. Additionally, 12% of asset holders own cryptocurrency, which is worth keeping an eye on as well. With Wien being in the top 5 of major crypto cities across Europe as well, the country is cementing its position in the industry.

Turkey Remains Relevant

Despite all of the political turmoil in Turkey throughout the past few years, it seems the overall interest in Bitcoin and other cryptocurrencies has not diminished all that much. In fact, Turkey is a very prominent region in Europe as far as cryptocurrencies are concerned, with 6% of internet users apparently holding some crypto. Twelve percent of asset holders own Bitcoin or altcoins as well, which is a prominent sign of growth. Sustaining these levels will hinge on whether the government decides to create any regulation in the near future.

Romania Inches Ahead

Romania has always been an interesting country, for a wide variety of reasons. One of the keys to its success in these rankings is the ever-growing freelancer community. When dealing with domestic and international clients, cryptocurrencies make for a more favorable payment method. This explains why 6% of internet users hold crypto, and 14% of asset holders do so as well. This further confirms Romania is doing its part to bring cryptocurrencies to the masses, albeit there is still a lot of room for improvement. 

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

Image(s): Shutterstock.com