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Our country ranking is based on the Chainalysis report “The Chainalysis 2020 Geography of Cryptocurrency Report” in which each country has been assigned a score. The Chainanlysis country score is calculated based on 4 factors:
(1) the country on-chain cryptocurrency value receive,
(2) the country on-chain retail value transferred,
(3) the number of on-chain country cryptocurrency deposits, and
(4) the Peer-to-Peer exchange trade country volume.
Our number of users per country estimations are based on Canada’s score and a recent Central Bank of Canada report, which estimates that 5% of the Canadian population own cryptocurrencies. In order to estimated for all the countries, we calculated the correlation between the Chainalysis score (=0.196) and the Central Bank ownership = 5% and then applied the same rationale to other countries’ scores.
A total of 16 reports and surveys were included and weighted to derive at our final numbers. These sources include:
The data contained or reflected herein are proprietary of TripleA.