Study Reveals the Countries Most Interested in Cryptocurrency, and Biggest Concerns
Since its launch, with the first decentralized cryptocurrency, bitcoin, released back in 2009 by presumably pseudonymous developer Satoshi Nakamoto, cryptocurrency has been surrounded by a lot of skepticism, arguably demonstrated by 696,000 Google searches occurring globally each month.
But who is most interested in this form of digital currency and what are their main concerns?
Eager to find out which countries in the world are most interested in cryptocurrency and also what are their main fears, experts at Invezz.com utilized online analytics tool Ahrefs to collate the monthly search volumes for ‘cryptocurrency’ for each individual country worldwide.
The monthly searches were multiped by 12 to establish an average annual search volume. The 20 countries with the highest annual search volumes for ‘cryptocurrency’ were ranked.
Countries in the World Most Interested in Cryptocurrency
According to the study, the United States is the country most interested in cryptocurrency, with an astonishing 2,556,000 online searches regarding cryptocurrency each year – the equivalent of 7,003 online searches per day!
Ranking second is India, where there are 804,000 annual online searches about cryptocurrency. Despite following in the leader board, this is still 69% lower than the United States.
United Kingdom follows in third place with an average of 648,000 online searches about cryptocurrency each year.
Indonesia (324,000), Canada (300,000), Vietnam (276,000), and Australia (273,000) are among the other countries in the world where there are over 200,000 annual online searches about cryptocurrency, respectively ranking fourth, fifth, sixth and seventh.
At the other end in 20th place is Singapore seeing an average of 61,200 online searches relating to cryptocurrency each year.
The Countries Most Interested in Cryptocurrency:
Rank
Country
Average Annual Online Searches
1
United States
2,556,000
2
India
804,000
3
United Kingdom
648,000
4
Indonesia
324,000
5
Canada
300,000
6
Vietnam
276,000
7
Australia
273,000
8
Nigeria
192,000
9
Philippines
144,000
10
Thailand
132,000
11
Germany
132,000
12
Pakistan
120,000
13
Malaysia
106,800
14
South Africa
94,800
15
The Netherlands
87,100
16
Japan
79,200
17
France
72,000
18
Ireland
68,400
19
Turkey
66,000
20
Singapore
61,200
World’s Biggest Cryptocurrency Fears Answered:
Through analyzing search volumes, experts were also able to rank the world’s most Googled concerns surrounding cryptocurrency, for which an expert at Invezz.com provides the answers:
1. Is cryptocurrency safe?
Yes, cryptocurrency is safe. In fact, it’s arguably safer than any other form of money. All funds stored in cryptocurrency are secured by blockchain technology and a reliable record of ownership. On top of this, cryptocurrency wallets are so well encrypted that they are virtually impossible to hack into. Your only concerns should be the same as with any personal finance accounts - keep your account passwords and wallet private keys safe and your funds will be protected.
2. Is cryptocurrency a good investment?
There are definitely good investment opportunities around and young people especially are hopping in and making a lot of money.
Bitcoin is among the best-performing assets of the past decade, and it’s clear that there is money to be made by investing in digital currencies. Cryptocurrency has forged its place in the financial landscape, and at this point, the question is one for each individual investor to answer for themselves.
3. Is cryptocurrency legal?
Yes, there is nothing illegal about cryptocurrency. In any country where online trading is legal, it is almost certain that cryptocurrency will be too.
4. Why does cryptocurrency value drop?
Many reasons, news, usability, adoption, demand. The price of any publicly traded asset is decided by the buyers and sellers reaching an agreement on its fair valuation.
Cryptocurrency markets are notoriously volatile, just like any new market before it's had time to mature. While the technology is clearly here to stay, nobody can say for certain what the long-term future of cryptocurrencies will be, and it's that uncertainty which leads to a very reactive market prone to sharp swings.
5. Why are people skeptical about cryptocurrency?
People are always nervous about change, and cryptocurrency poses a threat to traditional finance. The only real remedy for people’s skepticism will be time. Bitcoin was launched in 2008, but it is only in the last year or so that governments, large institutions, and companies have started to take it seriously as both a solution and investment class. While it’s been a long time coming, this is a positive step for cryptocurrency and bodes well for its acceptance by society as a whole.
