Countries whose government and people have shown positive response to cryptocurrencies and its affairs have been regarded to be crypto friendly and from recent studies by Coincub, Slovakia tops the list of those countries and is currently ranked the most crypto friendly country. The government of Slovakia has accepted cryptocurrency for what they are and have put measures in place to ensure their citizens benefit from cryptocurrencies.
As at the writing of this post, Slovakia has over 140 businesses and 585 locations where cryptos are accepted as a means of payment. The largest shopping mall is also named “BTC City.” to show how they've totally welcomed the crypto revolution.
Slovakia is a country in Central Europe with a population of about 5.5 million and it is estimated that about 3% of her population (165,000) own cryptocurrencies. In comparison to the countries population, that's a large number and is expected to increase massively as there are more businesses and facilities now accepting cryptos as a means of payment.
When it comes be being crypto friendly, it's really not about the numbers of people with Bitcoins or the volume of cryptos traded daily. Slovakia wouldn't be in the top 20 countries using that standard. Nigeria currently ranks as the country with the highest crypto trading volume but isn't a crypto friendly country as the government had implicit bans on cryptocurrencies and sanctions are placed on any institutions involved with cryptos in the country.
China also has the largest numbers of people who own cryptos but the government is well known for placing bans on cryptos and related activities in the country making it one of the least friendly crypto countries. Other high ranking crypto friendly countries on the list are Czech Republic, Germany, Japan, USA and Australia.
I believe what cryptos really need is acceptance and some regulation by the government to ensure it isn't used for the wrong purposes and also to protect the citizens from awful crypto experiences. Slovakia has done quite a good job in welcoming cryptocurrencies into her borders and I hope other countries follow the trend.
