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European crypto owners managed to earn a living by trading cryptocurrencies in 2021

With overall crypto trading volumes increasing over 500% in 2021, last year also brought record cryptocurrency gains for the average crypto investor. Researchers at TradingPedia combined multiple datasets to provide a thought-provoking view on the crypto profits dynamic. It turns out a significant amount of crypto investors started to earn enough to secure the necessities of life in 2021.

We mapped recently-released data for estimated cryptocurrency gains per country by Chainalisys with a dataset, showing the world’s crypto adoption rates. This gave us the estimated profit an average digital currency holder made in 2021, grouped by country. We then went a step further and compared that to the Median Income per country, drawing it on a map. The results vary substantially and give us a glimpse at how well different crypto investors did across the world, with Europe clearly taking the lead:

INTERACTIVE MAP: 2021 Crypto gains as % of Median Income
Sources: Chainalysis, Triple-A, World Population Review

Europeans making the most out of crypto trading in 2021

When we look at the world map we instantly see that the only region, where crypto investors have earned over 30% of their country’s Median Income in 2021, is Europe. Furthermore, the average rate in the Old World is a staggering 46%, compared to 9% in the US, 17% in Canada and 14% in Australia.

INTERACTIVE MAP: 2021 Crypto gains as % of Median Income - Europe
Sources: Chainalysis, Triple-A, World Population Review

“For the first time since the emergence of digital currencies, we are seeing half a dozen nations, where the average crypto owner made a profit of over 67% of their respective country’s median income. This would imply that in these countries most regular cryptocurrency traders were able to make ends meet just by trading their digital assets, predominantly as a part-time hobby. Up till late 2020, this was a privilege exclusive only to professional full time traders. This is very exciting news, pertaining to the practicality of crypto as an alternative or a main income stream for ordinary people.”

shares Brian McColl, a crypto and market analyst at TradingPedia.

A note on European crypto adoption

If we color-code the crypto adoption rates on the world map, Europe is clearly no longer in the lead. The image looks more or less inverted:

INTERACTIVE MAP: Crypto Adoption Rates in the world
Sources: Triple-A

This illustrates an inverse relationship between the adoption rate of cryptocurrencies in a Country and the percentage of median income its crypto owners gained in 2021. This is expected and easily explained, as Brian McColl added:

“Europe is traditionally lagging behind the US, where cryptocurrencies initially found early adoption with the first bitcoin transaction for physical goods taking place in Florida on May 22, 2010. The early adopters are always tech-savvy, highly educated IT professionals and enthusiasts. This explains their better performance when it comes to trading crypto.”

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.