Research by Finder:Crypto Positivity and Corruption Index

There is a strong correlation between cryptocurrency investment enthusiasm and government corruption, according to research by Finder.com

Finder polled 54,534 people across 27 countries to reveal that the 10 countries most positive about cryptocurrency all have a Corruption Perceptions Index (CPI) score under 50 out of a possible score of 100.

Lower CPI scores indicate more corruption, while higher scores are reflective of clean and transparent government policies.

The research also reveals that the same 10 countries all have average incomes below $10,000*.

Nigerian adults are the most likely to say cryptocurrency is a good investment (87%), followed by Venezuelans (81%), Ghanians (78%), Kenyans (77%), and Filipinos (73%). 

Meanwhile Germans are the most bearish on crypto (17%) followed by Swedes (18%), Norwegians (20%), Canadians and Japanese (24% each).

Finder’s head of consumer research, Graham Cooke, says cryptocurrency gives people a way to transact outside of government control.

“Those living in regions where trust in the financial and regulatory systems is low are more likely to consider cryptocurrency a good investment”.

“With low trust in the government, it’s likely people are looking for ways to build their own wealth while circumventing their government’s financial mandates on finance”.

“It’s here where crypto becomes an attractive investment because governments don’t regulate crypto - it’s decentralized digital money”.

However, Cooke adds that crypto’s decentralized nature is also weighed down by some disadvantages. 

“For one, crypto is prone to high volatility which can see people gaining 100% returns one day, only to lose the same amount a week later”.

“Without official bodies governing crypto, it’s also prone to more criminal activity. Blockchain is not without flaws and scammers have already exploited these time and again”.

“Regardless, it’s clear that crypto is gaining global popularity and with continued enthusiasm for blockchain technology, there’s no denying that crypto is part of the future of finance”. 

Cryptocurrency positivity and corruption scores, by country

Country

Crypto positivity

Corruption perception index

Nigeria

87%

25

Venezuela

81%

15

Ghana

78%

43

Kenya

77%

31

Philippines

73%

34

Indonesia

71%

37

Colombia

70%

39

Argentina

70%

42

Mexico

67%

31

Brazil

64%

38

India

60%

40

Vietnam

58%

36

Malaysia

58%

51

South Africa

56%

44

Singapore

48%

85

Hong Kong

46%

77

United States

45%

67

Russia

43%

30

Australia

32%

77

Ireland

30%

72

New Zealand

25%

88

United Kingdom

24%

77

Japan

24%

74

Canada

24%

77

Norway

20%

84

Sweden

18%

85

Germany

17%

80

You can find the full report here

CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information  from Finder.

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