According to the Triple A payment platform, 5,565,881 Ukrainians or 12.7% of the entire population of Ukraine currently own some form of cryptocurrency. This allowed Ukraine to lead the rating of countries in terms of the active use of cryptocurrency by citizens.
The second place is occupied by Russia, where 17,379,175 people or 11.91% of the country’s population own cryptocurrencies. Third place went to Venezuela with a score of 2,941,502 people or 10.34% of the population. The top five also includes Kenya and the United States.
The source adds that Ukrainians earned about $ 400 million from bitcoin investments in 2020, making Ukrainian investors some of the richest in the world. The bitcoin craze in Ukraine is not limited to ordinary citizens, but has been supported by Ukrainian government officials. Officials in early 2021 said they own more than $ 2.6 billion in bitcoins, noting that “the largest number of cryptocurrency owners work in city councils, the Department of Defense and the National Police.”
According to the World Bank, almost 10% of Ukraine’s GDP in 2020 came from personal remittances sent to Ukraine. Many Ukrainians have emigrated and continue to send money home to their families, paying huge fees to transfer money using traditional banking methods. However, Bitcoin allows Ukrainians to send money across the border faster and cheaper without using banks.
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