Cryptoassets Become The New Forex For US Traders

Crypto trader distribution by country

The forex industry has known for a long time already – cryptoassets trading is the next-generation forex. After the ban on binary options, forex brokers are increasingly trading cryptoassets and cryptocurrencies. Blockchain-based cryptoassets are ideally suited for the new generation of traders. In connection with the new crypto exchanges such as Kraken, cryptocurrencies such as Bitcoin (BTC), LiteCoin (LTC) or Ether (ETH) are increasingly gaining ground.

With the increasing regulation of crypto exchanges, trading with cryptoassets is becoming more secure. Although in many jurisdictions there are still unanswered questions concerning taxation, the respective tax authorities will create corresponding security for traders in the coming months and years. In addition, the industry expects the SEC to approve new crypto-based financial instruments such as crypto ETFs. The improvement in the regulatory framework will give a boost to trading in cryptoassets.

According to a blog post published by research company DataLight, the overwhelming majority of crypto traders come from the United States. DataLight analyzed the website traffic data from the 100 most popular crypto exchanges. More than 22 million monthly visits came from the US. Japan takes second place with 6 million, followed more closely South Korean with 5.7 million and the UK with 3.8 million monthly visits. Hence, the UK is the place for crypto traders in Europe. As London is increasingly profiling itself as a major European cryptocurrency hub, Datalight expects this a growing importance of London in the crypto trading era.