KEY POINTS

  • The Czech Republic and Belgium were in the second and third positions, respectively
  • Switzerland has the most profitable traders at $1,268 of gains per investor
  • Europe, in general, is among the top trading continents

A new study has shown that Switzerland currently has the most profitable Bitcoin traders in the world. Meanwhile, France has become the topmost country in terms of “the best Bitcoin trading nation.”

According to a study by invezz.com, although Switzerland has the most profitable traders at $1,268 of gains per investor, it was ranked in the sixth position as only 1.8 percent of its population invests in cryptocurrencies.

“Switzerland has the most profitable traders at $1,268 of gains per investor, however with only 1.8% of the country invested in crypto, they get knocked down to a sixth-place finish. The Czech Republic is similar,” the invezz.com study detailed.

Excluding China and Taiwan for the lack of data availability, the study focused on 23 countries worldwide and found France to be the best Bitcoin trading nation.

"And the winner is….France, topping the table as the world’s best Bitcoin trading nation. France ranked 12th in the percentage of the country invested in crypto (3.3%), but an impressive third and eighth respectively in Bitcoin gains per capita and Bitcoin gains per investor, at $275 and $13 respectively," the study said

"While a lot of other countries placed well in certain categories, France was the only country to be above average in all three metrics – the percentage of population invested in crypto, Bitcoin gains per investor, and Bitcoin gains per citizen. This helped them achieve the best aggregate rank and claim the title of best Bitcoin trading nation," it added.

The Czech Republic and Belgium were in the second and third positions, respectively, as the best Bitcoin trading nations. The study noted that Europe, in general, was among the top trading continents given European countries managed to get the top six spots, excluding Canada as an exception.

Netherland, Switzerland, Germany, Australia, United Kingdom, United States, Spain, Japan, Ukraine, South Korea and Italy also made it to the list. Other notable countries included Argentina, Vietnam, Poland, Russia, Thailand, Brazil, Turkey and India.

The study altered the Bitcoin gains per investor, rather than per citizen, and found that Switzerland narrowly pips the Czech Republic, with both countries showing savvy traders generating $1,268/$1,259 each.

"France trail in this metric, in eighth with $275 per investor, showing that the weighted component of our final rank means you must be a jack of all trades to top the rankings," the study showed.

Bitcoin will almost certainly never be practical for everyday purchases because its value fluctuates wildly, and each transaction is expensive, energy hungry and takes at least half an hour
Bitcoin will almost certainly never be practical for everyday purchases because its value fluctuates wildly, and each transaction is expensive, energy hungry and takes at least half an hour AFP / Ozan KOSE
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