A recent Crypto Head research showed that California is the most crypto-friendly US jurisdiction. “Due to the rise in Bitomat numbers and citizens’ interest in digital assets in the state.”
California grabbed the lead with 5.72 points in a dramatic turn of events, pushing New Jersey, Texas, Florida, and New York down the rankings (4.29). This state had an extra 2.54 points above the national average.
The findings were gathered using various factors, including Google searches, the number of Bitomates installed, and the number of blockchain legislation enacted in each of the participating states. According to Google searches and the number of cryptocurrency ATMs, California is the most popular state for cryptocurrency. Aside from the absence of cryptocurrency regulation, there are two significant-good aspects of cryptocurrency.
While New York City approved eight crypto-related laws, the city ranks 33rd in terms of bitomate installations. A crypto ATM is found per 10,000 square miles in New Jersey, which has the highest density of crypto ATMs. In addition, the state ranked third in terms of the number of Google searches per 100,000 people. When it comes to bitomates and an overall number of searches, the states of Texas and Florida also scored well.
The fact that cryptocurrencies are an asset class to invest in has contributed to their growth in the United States. Other adoption rates, on the other hand, are not relatively as high. The United States was rated 26th out of 27 nations regarding the amount of cryptocurrencies owned by citizens by the financial comparison website Finder in August.
The United States remains the leader in bitcoin adoption, despite regulatory uncertainty and the impending infrastructure bill, which may have ramifications for critical sectors of the blockchain economy. In 2020, the overall amount of bitcoin trading in the United States will surpass the entire volume of bitcoin trading in Europe, Nigeria, and China combined. Americans, on the other hand, reported $4.1 billion in realised gains from their cryptocurrency trades.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.