Chainalysis: Ukraine, Russia and Venezuela are among the three leaders in the use of cryptocurrencies

According to the analytical company Chainalysis, Ukraine, Russia and Venezuela entered the top 3 countries with a high cryptocurrency use index.

According to the Chainalysis report, The largest number of cryptocurrency holders and retail investors are in Ukraine, Russia and Venezuela. At the same time, the United States and China can also boast of large volumes of transactions, Considering, that in these countries a large number of “whales” have been identified.

Chainalysis analysts came to such conclusions after an analysis of the total volume of crypto assets, circulating in every country, as well as the number of cryptocurrency deposits and trading volumes on the P2P platforms. Earlier, the portal Blockchaincenter.net also published data, According to which citizens of Serbia, Russia and Ukraine are more often interested in altcoins.

“Speaking about transactions using digital assets in the amount from above $100 000, Over the past year, their number has grown significantly in North America. This indicates an increase in the number of professional investors ", - said the head of the research unit Chainalysis Kim Grauer (Kim Grauer).

She also added, that in Russia the transition to cryptocurrencies can occur more smoothly, since electronic payment systems are in great demand in the country, And people are used to digital payments. Grauer added, that a significant part of the population of Ukraine is well familiar with the latest technologies. Given the unstable economy of the country, Ukrainians consider cryptocurrencies a "safe harbor".

In this case, the methods of using cryptocurrencies in different countries are different. for instance, In Russia and Ukraine, digital currencies are more often used to send funds between organizations and make cross -border payments, To avoid difficulties with banks. In Venezuela, digital currencies are considered as savings and are used for P2P trade.

The founder of the Ukrainian cryptocurrency exchange Kuna Mikhail Chobanyan suggested, that the retail investors of Ukraine are really interested in cryptocurrencies, since the country has no possibilities for creating savings and passive income. The absence of the state stock market and the clear regulation of the cryptocurrency industry also pushes people to use digital assets.

Deputy Minister of Digital Transformation of Ukraine Alexander Bornyakov counts, that the most active users of digital currencies are not organizations, And ordinary citizens. However, Bornyakov emphasized, that today there is no official statistics on the use of cryptocurrencies in the country.

“Cryptocurrencies are used to hedge risks, associated with the volatility of the Ukrainian hryvnia, as well as with the instability of the political and economic situation in the country. Unlike gold, Cryptocurrencies are available to everyone ", - said the Ukrainian developer Bitcoin Core Gennady Stepanov.

Another developer Bitcoin Core Gleb Naumenko added, What is observing great interest in digital assets from Ukrainians, However, many are frightened by the difficulty of using cryptocurrencies and their further conclusion. The head of the operating department of the Binance exchange in Russia and the CIS countries Gleb Kostarev said, that although Ukraine is not a leader in the volume of trading, This country is considered one of the key markets for Binance. Besides, Binance actively interacts with the Ukrainian Government to develop new rules for regulating cryptocurrencies in the country.

“In Ukraine, a complex macroeconomic situation is observed, And the Pandemia of Coronavirus only aggravated the situation. While the government is developing new methods of incentive economy, The younger generation is looking for new sources of income. This is one of the main reasons, Why cryptocurrencies are in demand among the Ukrainian population ", - said Kostarev.

Grauer noted, what to identify transactions with cryptocurrencies in countries was a difficult task, Since it is difficult to determine the geographical location of users by bitcoin by bitcoin.. Therefore, Chainalysis requested data from the P2P platform Localbitcoins and Paxful, After talking with their specialists.

Besides, To analyze cryptocurrency activities, Chainalysis used the data of the web traffic of various services, where cryptocurrencies can be involved. For analysis of transactions, data on time zones were used, the most popular crypto-phiatic pairs and language options.

Chainalysis researchers also came to the conclusion, that poor countries with high volatility of state currencies may have a high index of acceptance of digital currencies, especially if in such countries there are many cryptocurrency transactions worth less than $10 000. This only speaks of the activity of retail investors, but does not mean large trading volumes at all.

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