The study compared data sets to figure out which countries have the top Bitcoin traders
A recent survey by Invezz, an online investing news and education portal, showed that Switzerland presently had the most profitable Bitcoin traders in the world. The platform’s research, which was released on April 14, analysed data sets from blockchain firm Chainalysis Triple A and Worldometers to determine the country with the most lucrative Bitcoin dealers in the world. In other words, Switzerland offered the best returns to all investors. With a value of $1,268, it also has the most successful or profitable traders. However, the country came in sixth place, with only 1.8 percent of the population investing in cryptocurrencies.
Invezz started with data from Chainalysis, which showed the top 25 countries in the world by realised Bitcoin gains in 2020. According to Invezz, the study left out China and Taiwan from this list of 25 as they couldn’t trust the data.
So, the study ranked the remaining 23 countries, with the lowest aggregate score ranking first and the highest score ranking last. Three parameters were used to rank the countries using a weighted index:
1) The amount of Bitcoin gains made per capita in that country, which was based on Chainalysis data.
2) Based on statistics from TripleA and Worldometers, the percentage of citizens in each country investing in cryptocurrencies to determine where adoption is highest. Worldometers is a website for real-time data, and Triple A is a crypto payment gateway.
3) The amount of money made in Bitcoin by each investor.
While the data showed that Switzerland had the most successful Bitcoin traders in the world, France came on top in terms of the best Bitcoin trading nation.
While several other nations performed well in some categories, France was the only country to perform better than average in terms of percentage of population that invested in cryptocurrencies, Bitcoin gains per investor, and Bitcoin gains per citizen. As a result, they were able to attain the highest overall ranking and claim the title of top Bitcoin trading nation.
Here are some of the other findings of the study:
Following France, the Czech Republic and Belgium were ranked second and third in terms of best Bitcoin trading countries.
Then there was Canada, the Netherlands, Switzerland, Germany, Australia, the UK, the US, Spain, Japan, Ukraine, South Korea, and Italy, to name a few.
Argentina, Vietnam, Poland, Russia, Thailand, Brazil, and Turkey, were also among the important countries.
India was placed 23rd overall, 4th in terms of the percentage of the population investing in cryptocurrencies, and 24th in terms of Bitcoin gains per trader and Bitcoin gains per capita.
Ukraine had the highest percentage of cryptocurrency investors at 12.7 percent, but the lowest average profit of $72 per investment.
Source : Ndtv.com