Cryptocurrency holdings remain a precarious investment decision – one for bolder people. Cryptocurrency’s value can change constantly and dramatically. An investment that may be worth thousands of dollars today could be worth only hundreds tomorrow.
Putting to one side the debate about whether investment in cryptocurrency is a good thing, or, in a more nuanced way, to whom it is a good investment for, the rate of individuals holding some form of investment appears to be still growing. Over 300 million people worldwide receive at least partial compensation in cryptocurrency.
As well as the actual holders of this form of money, the potential holders are sizeable. This is demonstrated by 75% of U.S. Gen Z workers stating they would even prefer digital currencies as salary.
As crypto adoption is growing, a firm called ApeX Protocol undertook a study to identify where workers can most easily receive and use crypto as salary. The data has been provided to Digital Journal.
The research evaluated countries using five factors: cryptocurrency ownership rates, tax treatment, infrastructure availability (ATMs and exchanges), regulatory status, and real-world usability indicators. Countries received a Crypto Payroll Readiness Index score from 0-100, with higher scores indicating better conditions for cryptocurrency salaries.
The top 10 countries for cryptocurrency payrolls
| Country | Cryptocurrency Ownership Rate in 2024 | Tax Friendliness Score (0–100) | Crypto Regulation | Crypto Payroll Readiness Index |
| Singapore | 24.4% | 90 | Legal | 84.1 |
| Switzerland | 11.5% | 95 | Legal | 71.0 |
| UAE | 25.3% | 95 | N/A | 69.8 |
| United States | 15.5% | 50 | Legal | 67.9 |
| Hong Kong | 14.3% | 85 | Legal | 65.8 |
| United Kingdom | 24% | 55 | Legal | 62.7 |
| Portugal | 12% | 80 | Legal | 59.6 |
| Brazil | 17.5% | 55 | Legal | 59.0 |
| Germany | 8.2% | 90 | Legal | 58.3 |
| Canada | 10.1% | 60 | Legal | 57.3 |
As evident from the table, Singapore ranks first as the easiest country for workers to get paid in cryptocurrency. The city-state combines high cryptocurrency ownership (24.4% of residents) with favourable tax treatment (0% capital gains tax). Singapore also operates 81 cryptocurrency exchanges despite its small population, and workers here benefit from wide crypto usage: crypto debit cards, in-country transactions, and real estate purchases are all readily available.
Switzerland holds second place, offering one of the most favourable tax rates for workers paid in cryptocurrency. The county has 0% capital gains tax with only a minimal 0.3-1% wealth tax. Switzerland has 1,130 crypto ATMs and, similar to Singapore, allows crypto transactions and real estate purchases.
The United Arab Emirates is the third-best country for employees receiving crypto salaries. Here, 1 in every 4 locals already owns crypto, while the state is on par with Switzerland when it comes to taxes, with a friendliness score of 95/100. The UAE also allows both in-country transactions and real estate purchases with cryptocurrencies.
The U.S. comes in fourth place, with its drive for crypto currency boosted by its President. While crypto taxes are relatively higher here, workers receiving payments in digital currency will find it much easier to convert their assets into cash, as the country is home to 31,720 crypto ATMs and 166 exchanges. The US shows high adoption rates at 15.5% and doesn’t create extra barriers for making transactions with crypto.
Next comes Hong Kong, offering 0% profit tax for most crypto holders (85/100 tax friendliness) and operating 52 exchanges despite its compact size. Hong Kong also shows 14.3% crypto ownership while providing both debit cards and in-country transaction options with digital currencies.
The UK ranks sixth, posting 24% cryptocurrency adoption among the population. The UK maintains moderate tax policies on crypto that include a 10% tax on basic earnings. The country has 95 cryptocurrency exchanges and also allows the use of digital currency debit cards.
Portugal is in seventh place with 0% capital gains tax for assets held longer than one year, showing an overall 80/100 tax friendliness rating. Portugal accepts in-country transactions and property purchases with digital currencies too, helping residents to make real use of their crypto income.
Brazil comes in eighth position, registering a 17.5% cryptocurrency ownership rate. The country allows its residents to hold crypto-linked debit cards and make transactions, while implementing moderate tax policies (15-22.5% capital gains rates).
Germany follows next with 0% tax on crypto assets held longer than one year, scoring 90/100 in the tax friendliness. Holding a digital asset debit card is legal in Germany, and residents here are allowed to make transactions with their crypto. The country also lists a total of 194 ATMs.
Canada completes the top 10 countries for cryptocurrency payroll. Canadian employees getting paid in crypto face mid-range taxation (60/100 friendliness score), but can easily turn their salaries into real money, with 3,015 ATMs across the country. Canada also maintains around 10% crypto adoption and allows citizens to make transactions with their digital currencies.
