Most Crypto Traders are Concentrated in the US, Report Says
- DataLight published a report showing that US users were responsible for 22 million visits to cryptocurrency exchanges.

It seems that the good ol’ USA is the new center of the crypto-trading universe. According to a recent report from Estonian crypto research firm DataLight, most of the world’s cryptocurrency traders are located in the United States.
DataLight collected and analyzed data from the top 100 “most popular” cryptocurrency exchanges to find that 22 million monthly visits to these cryptocurrency exchanges were from US-based users, followed by Japan (6.14 million monthly visits) and South Korea (5.73 million monthly visits.)

A list of countries ordered by the volume of monthly visits to cryptocurrency exchanges. Source: DataLight.
The UK rang in at fourth place with 3.89 million monthly visits, a number that the report said was likely to grow.
The Report Also Revealed Untapped Markets
DataLight’s report also revealed another interesting demographic: where cryptocurrency trading traffic is completely nonexistent. While most countries in the world saw at least some trading volume, Greenland, parts of Central Africa, and a couple of countries sprinkled throughout Asia saw no monthly visits to cryptocurrency exchanges at all.

A map showing the numbers of monthly visits in each country around the world. Source: DataLight.
At least one cryptocurrency exchange sees these untapped markets as an opportunity for growth: “efforts from Binance may introduce Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term to the untapped countries in central and coastal Africa as they launched Binance Uganda in October 2018,” the report explained.
Despite the apparent popularity of cryptocurrency trading within the United States, the country’s regulations around cryptocurrency are still unclear. However, the lack of clarity doesn’t seem to correlate with a lack of enforcement activity--last month, the Financial Crimes Enforcement Network (FinCEN) issued a $35,000 fine to a peer-to-peer Bitcoin trader for failing to register as a money services business.
8/ Here, it looks like FinCEN wanted to settle two debates once and for all. It believes:
1) Mere two-party exchange is "money transmission" 2) Individuals can be money transmitters (2) should be obvious. (1) is deeply problematic. — Marco Santori (@msantoriESQ) April 19, 2019
In August, a LocalBitcoins trader was sentenced to 41 months in prison for money laundering after conducting in-person Bitcoin trades amounting to over $160,000.
It seems that the good ol’ USA is the new center of the crypto-trading universe. According to a recent report from Estonian crypto research firm DataLight, most of the world’s cryptocurrency traders are located in the United States.
DataLight collected and analyzed data from the top 100 “most popular” cryptocurrency exchanges to find that 22 million monthly visits to these cryptocurrency exchanges were from US-based users, followed by Japan (6.14 million monthly visits) and South Korea (5.73 million monthly visits.)

A list of countries ordered by the volume of monthly visits to cryptocurrency exchanges. Source: DataLight.
The UK rang in at fourth place with 3.89 million monthly visits, a number that the report said was likely to grow.
The Report Also Revealed Untapped Markets
DataLight’s report also revealed another interesting demographic: where cryptocurrency trading traffic is completely nonexistent. While most countries in the world saw at least some trading volume, Greenland, parts of Central Africa, and a couple of countries sprinkled throughout Asia saw no monthly visits to cryptocurrency exchanges at all.

A map showing the numbers of monthly visits in each country around the world. Source: DataLight.
At least one cryptocurrency exchange sees these untapped markets as an opportunity for growth: “efforts from Binance may introduce Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term to the untapped countries in central and coastal Africa as they launched Binance Uganda in October 2018,” the report explained.
Despite the apparent popularity of cryptocurrency trading within the United States, the country’s regulations around cryptocurrency are still unclear. However, the lack of clarity doesn’t seem to correlate with a lack of enforcement activity--last month, the Financial Crimes Enforcement Network (FinCEN) issued a $35,000 fine to a peer-to-peer Bitcoin trader for failing to register as a money services business.
8/ Here, it looks like FinCEN wanted to settle two debates once and for all. It believes:
1) Mere two-party exchange is "money transmission" 2) Individuals can be money transmitters (2) should be obvious. (1) is deeply problematic. — Marco Santori (@msantoriESQ) April 19, 2019
In August, a LocalBitcoins trader was sentenced to 41 months in prison for money laundering after conducting in-person Bitcoin trades amounting to over $160,000.