Cryptocurrency Adoption and trends in Ukraine in 2021
It is estimated that over 5.5 million people, 12.7% of Ukraine’s total population, currently own cryptocurrency.
Ukraine is ranked first worldwide for the adoption of cryptocurrencies. Ukraine sent $8.2 billion worth of cryptocurrency and received $8 billion worth from July 2019 to June 2020.
Ukrainians are very open to cryptocurrency, with Ukranian crypto exchange Kuna reporting that small businesses might be turning around up to $5 million worth of crypto every week, while retail crypto trades total an estimated $800 thousand daily.
Ukraine is the birthplace to teams that founded crypto startups Bitfury, Hacken and Propy, not to mention numerous crypto developers. While many of these developers are now based abroad, the country is still a competitive jurisdiction for crypto startups, believes Alex Bornyakov, the deputy minister for digital transformation of Ukraine.