Ukrainians bought Bitcoin worth 882 million dollars in a year: who owns the crypto

Ukrainians are actively investing in cryptocurrency, spending $882 million on buying Bitcoins from July 2023 to July 2024. Ukraine ranks sixth in the world in terms of crypto activity. This is stated in the report of the European Bank for Reconstruction and Development (EBRD). 

Who trades cryptocurrency the most in Ukraine

According to the EBRD, during this period, Ukraine received cryptocurrency revenues of $106 billion, a significant portion of which comes from institutional transactions ranging from $1 to $10 million and professional transactions from $10,000 to $1 million. 

Such volumes indicate the engagement of large players in the market, including financial institutions and professional investors. At the same time, individual users are also actively buying Bitcoins, viewing them as a tool for capital preservation amid economic instability.

How much cryptocurrency have officials declared

Cryptocurrency is becoming increasingly popular in Ukraine, particularly among officials. In 2023, they declared digital assets worth 786 million UAH, nearly double that of 2022. This trend reflects the global trend of rising cryptocurrency values. For example, while Bitcoin once cost $1, its price currently exceeds $120,000 per coin. Binance platform experts note that Bitcoin and other crypto assets are viewed as a long-term investment strategy.

Main reasons for the popularity of cryptocurrencies in Ukraine

• Protection of capital from inflation and economic uncertainty.

• Rising value of Bitcoin, making it attractive for investors.

• Active participation of institutional players in large transactions.

• Development of cryptocurrency infrastructure, particularly platforms like Binance.

Ukraine maintains its position as one of the world leaders in cryptocurrency usage, trailing only behind India, Nigeria, Indonesia, the USA, and Vietnam. This ranking indicates a high level of trust in digital assets among Ukrainians. According to experts' forecasts, by 2026, crypto activity may increase due to easier access to trading platforms and strengthened market regulation. 

Earlier, we wrote whether an individual entrepreneur under the simplified taxation system can sell cryptocurrency.