Continue reading this on our app for a better experience

Open in App
Home News Cryptocurrency

Online casino guide platform finds Singapore ninth-most 'crypto-friendly' country globally

The Editor
The Editor • 2 min read
Online casino guide platform finds Singapore ninth-most 'crypto-friendly' country globally
The platform measures “crypto-friendliness” through percentage of population holding cryptocurrencies, among others. Photo: Bloomberg
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singapore ranks ninth globally in “crypto-friendliness”, as 11.1% of the population owns cryptocurrencies and it sees an average of 1,750 search volume for crypto words per 100,000 of population, according research from online casino guide CryptoCasinos. 

It is the second Southeast Asian country, behind Vietnam who ranks sixth, on the list of the top 10 “crypto-friendly” nations in the world. Vietnam is currently Asia’s most “crypto-friendly” country, the release reads. 

About 20 million or 21.2% of the population hold cryptocurrencies, and Vietnam drives 4.9% of the web traffic to crypto exchange OKX and 6.3% to Binance.  

According to CryptoCasinos, “crypto-friendliness” is measured using 10 metrics, including the percentage of population holding cryptocurrencies, the cost and profit of mining one bitcoin, and the search volume per 100,000 population for crypto-related keywords.

Data also includes the percentage share of each country’s traffic to each of the major crypto exchanges like Binance, Coinbase, BitFinex, Kraken, Kucoin and OKX. 

Meanwhile, Argentina ranks as the most “crypto-friendly” country in the world, with 9.7% or one in ten of the country’s population holding cryptocurrencies, three times more than the global average of 3%. 

See also: Bitcoin developers are touting ‘programmability’ as the catalyst for the next rally

“The low energy costs make it a perfect place to mine Bitcoin, costing an estimated US$14,647 ($19862.80) to mine 1 Bitcoin, meaning a profit of US$51,261 (based on a BTC price of $65,908),” the release notes. Argentina also has one of the highest amounts of traffic, about 6.3%, to Binance. 

The United States, Colombia, Ukraine and the United Arab Emirates come in at second, third and fourth place respectively after Argentina. 

According to CryptoCasino’s website, it is an online casino guide that provides all information related to crypto-gambling, created by a team of crypto enthusiasts. The team plays, reviews and analyses over 240 crypto gambling platforms. 

It is owned and operated by Elevated Leads, a performance marketing company that mainly focuses on the casino vertical within the iGaming industry. Elevated Leads has its address listed in Malta.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.