Switzerland currently has the most profitable bitcoin traders in the world, according to a recent study by the popular online investment information and education platform Invezz. That’s according to the latest data from Chainalysis, Worldometers, and Triple A, which helped Invezz give each country a certain score for the most profitable bitcoin trade.
Last week, researchers from invezz.com published a study that examines the most profitable bitcoin traders by country by analyzing statistics from different datasets. Study author Dan Ashmore explained that a dataset from Chainalysis shows the twenty-five countries with the highest Bitcoin (BTC) earnings in 2020.
This served as a backdrop for the study, as the invezz.com research team also used statistics from Worldometers and Triple A. While the data shows that Switzerland currently has the most bitcoin traders most profitable in the world, France is the first country in terms of “best bitcoin trading nation”. This is all the more understandable as more and more people are using Bitcoin Code to invest in cryptocurrencies, especially since profitable trades are possible there.
“France ranks 12th in terms of the percentage of the country’s population that has invested in cryptocurrencies (3.3%).” But it lands “an impressive third and eighth place in terms of bitcoin revenue per capita and bitcoin revenue per investor, at $275 and $13, respectively,” Ashmore’s report explains. As a result, many other countries only performed well in individual categories, while France was the only country to score above average in all three given parameters.
After France, the Czech Republic and Belgium follow in second and third place among the best bitcoin trading nations. It is followed by Canada (first non-European country), the Netherlands, Switzerland, Germany, Australia (second non-European country), the United Kingdom and the United States. Spain, Japan, Ukraine, South Korea and Italy follow in the ranks. Other countries of interest in this regard were Argentina, Vietnam, Poland, Russia, Thailand, Brazil, Turkey and India, according to the report. Of all the countries listed, Swiss bitcoin traders lead in terms of bitcoin profits.
Switzerland has “the most profitable traders with $1,268 in profit per investor,” according to the report. However, with only 1.8% of the country’s citizens having invested in cryptocurrencies, it drops to sixth place, according to the study. The same is true for the Czech Republic. But Confederates and Czechs are much lower than France for a number of reasons. According to this, Switzerland and the Czech Republic rank 23rd and 21st, respectively, out of 24 countries when it comes to the percentage of the population that has invested in cryptocurrencies (1.8 and 2.2%, respectively). This ultimately reduces their chances,” Ashmore’s report reads.
The invezz.com researcher concludes: It is clearly France that claims the title of the best bitcoin traders. But there must be something in the water in continental Europe as their dominance at the top of the table is unmistakable.
However, the question of what it will look like in a few years is also interesting. Which countries will develop clear and simple regulations regarding cryptocurrencies in the near future and also become much more attractive for traders in general? A question that also plays a major role in the overall development of the market. After all, a better institutional and legal environment also guarantees significantly higher investments in this area.