According to a recent study published by online news and investment education platform Invezz, Switzerland currently has the most profitable bitcoin traders in the world. This follows data from Chainalysis, Worldometers and Triple A, which helped Invezz rank each country in terms of most profitable bitcoin trading by country.
The researchers ranked the best countries for bitcoin trading and the most profitable bitcoin traders by country
This week, researchers at invezz.com published a study which looks at the most profitable bitcoin traders by country, using statistics from several data sets. Study author Dan Ashmore explained that one of the datasets came from Chainalysis, which shows the top 25 countries in the world for realized bitcoin (BTC) profits in 2020.
This served as the background for the study, as the invezz.com research group also used Worldometers and Triple A statistics. While the data shows that Switzerland now has the most profitable bitcoin traders worldwide, France ranks as the “best country for bitcoin trading.”
“[France] ranked 12th in the percentage of the country investing in cryptocurrencies (3.3%), but an impressive third and eighth in bitcoin profits per capita and bitcoin profits per investor – $275 and $13 respectively,” the Ashmore report explains. “While many other countries ranked well in certain categories, France was the only country that was above average in all three indicators.”
Invezz.com research, “France claims to be the top bitcoin trader, Switzerland has the most profitable traders with $1,268 profit per investor.”
After France, the Czech Republic and Belgium are the second and third best bitcoin-trading countries on the list. Next are Canada, the Netherlands, Switzerland, Germany, Australia, the United Kingdom, the United States, Spain, Japan, Ukraine, South Korea and Italy, respectively. Other notable countries include Argentina, Vietnam, Poland, Russia, Thailand, Brazil, Turkey and India. Of all the countries listed, bitcoin traders in Switzerland lead the way in BTC BTC gains.
“Switzerland has the most profitable traders with $1,268 in profits per investor, but because only 1.8% of the country’s population invests in cryptocurrencies, they dropped to sixth place. It’s a similar situation in the Czech Republic,” the invezz.com study said. But both Switzerland and the Czech Republic are on the list far below France for certain reasons. “Switzerland and the Czech Republic rank 23rd and 21st respectively out of 24 countries for the percentage of the population investing in cryptocurrencies (1.8% and 2.2%), [this] definitively kills their chances,” the Ashmore report said. The invezz.com researcher concludes:
It is France [that claims] to be the best bitcoin traders. But mainland Europe must have something in the water, because their dominance at the top of the table is obvious.
Image credits: Shutterstock, Pixabay, Wiki Commons, invezz.com research