According to a study by Atmos, the United Arab Emirates (UAE) has cemented its position as the global leader in cryptocurrency ownership. With a score of 98.4, the UAE edged out Singapore (97.5) and left the United States trailing in third place with 85.4. What makes this achievement remarkable is the UAE’s minimal Bitcoin ATM infrastructure—just one ATM in the entire country—compared to the tens of thousands available in other nations.
The study paints a fascinating picture of how crypto adoption is unfolding globally. While countries like the United States boast an extensive network of 29,834 Bitcoin ATMs, it’s the UAE’s high crypto ownership rate of 25.3% and an adoption rate of 210% that have propelled it to the top spot. This suggests that accessibility and infrastructure aren’t always the defining factors for adoption; interest and integration into daily life play a crucial role.
Nick Cooke, CEO of Atmos, offered insights into what drives cryptocurrency adoption worldwide. Speaking about the findings, he said,
“Cryptocurrency adoption is not just about investment trends. It is reshaping financial systems worldwide. In some regions, it is a hedge against inflation and currency instability, while in others, it is a step toward a more digitized economy.”
Cooke also emphasized that regulatory clarity and real-world utility are key to moving crypto from speculative investments to everyday transactions.
Canada secured fourth place in the rankings with a score of 72, supported by its 3,561 Bitcoin ATMs—the second-highest globally. However, its crypto ownership rate of 10.1% and adoption rate of 225% couldn’t push it higher on the list.
Meanwhile, Turkey’s economic turbulence has spurred significant interest in cryptocurrency as citizens seek alternatives to their depreciating currency. The country has a crypto ownership rate of 19.3%, but its low adoption rate and modest infrastructure (just seven Bitcoin ATMs) resulted in a score of 67.8, placing it fifth.
Switzerland also made an appearance among the top-ranked countries but with a twist. Known for its stable economy and financial sophistication, Switzerland has a double-digit crypto ownership rate (11.5%) but an adoption rate of just 90%, the lowest among leading nations. The study suggests this reflects a “maturing market” rather than emerging enthusiasm for cryptocurrencies.
South Korea’s ranking was perhaps the most surprising. Despite being renowned for its technological prowess, the country scored just 52.2—the lowest among top-ranked nations—due to limited physical infrastructure for cryptocurrency transactions.
The Atmos study offers a snapshot of how nations are embracing digital currencies under vastly different circumstances. From countries using crypto as a hedge against inflation to those integrating it into their digital economies, the landscape is as diverse as it is dynamic.
Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.
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