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Genghis Research · First edition
The State of Living on Crypto 2025
Where on Earth can you actually receive your money as crypto, keep it as crypto, and spend it on a bill? We scored 79 countries to find out, across 5 pillars and 22 sub-pillars, with data frozen on 31 December 2025.
One index, two questions
"Where is crypto most livable?" is really two questions. The gap between a country's two ranks is the story the report tells.
Where are the rails best?
Raw capability: exchanges, cards, legal clarity, infrastructure, scored out of 84, regardless of whether anyone needs it. The developed world wins this one.
Where is it most livable?
The same rails, weighted by how much a population actually needs crypto: inflation, unbanked share, remittances, capital controls, sanctions. This is the report's headline ranking.
Start with your own country
Every one of the 79 countries has its own page: its two ranks, the full scoreboard, and the story behind the number.
Ten findings, in miniature
The executive summary distills the whole report into ten findings. Each points to the chapter that carries its evidence.
Switzerland has the best environment. Argentina is the livability capital.
Read on →
Owning is not living, and the gap between the two is the report's subject.
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The Lifelines tier: where crypto is needed most, it is already used most.
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Lifelines beat broken rails: need alone cannot top the table.
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Spendability does not taper. It cliffs at the bill wall.
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The dollar stablecoin is obtainable in all 79 countries. No ban kept it out.
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Capital controls are losing to a detection problem.
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Every tax zero in the index is a ban.
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The anonymous on-ramp is extinct, heaviest in the most sophisticated markets.
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Fifty rulebooks were opening at the end of 2025. Twelve were closing.
Read on →
From the foreword
"In 2021 I had savings in crypto and could not easily buy a PlayStation. The money was mine; the permission structure said otherwise."
"We did not invent the behaviour this report measures. People were living on crypto long before anyone named the category. What was missing was the map."
London, June 2026
Genghis Research · The Crypto Livability Index 2025
The Crypto Livability Index
79 countries ranked on how livable each is for someone living on crypto, scored across 5 pillars and 22 sub-pillars, data frozen 31 December 2025. Click any country for its full page.
The headline ranking. Raw capability weighted by how much a population actually needs crypto: inflation, unbanked share, remittances, capital controls and sanctions. Necessity economies rise to the top.
| # ▲ | Country | Region | Livability score | Rails rank | Need shift |
|---|---|---|---|---|---|
| 1 | Argentina | LATAM | 0.910 | #6 | ▲ +5 |
| 2 | El Salvador | LATAM | 0.781 | #20 | ▲ +18 |
| 3 | Ukraine | Europe | 0.727 | #28 | ▲ +25 |
| 4 | Nigeria | SSA | 0.719 | #40 | ▲ +36 |
| 5 | Turkey | MENA | 0.710 | #41 | ▲ +36 |
| 6 | Venezuela | LATAM | 0.686 | #57 | ▲ +51 |
| 7 | Philippines | APAC | 0.684 | #22 | ▲ +15 |
| 8 | Brazil | LATAM | 0.656 | #9 | ▲ +1 |
| 9 | Lebanon | MENA | 0.655 | #61 | ▲ +52 |
| 10 | Cuba | LATAM | 0.651 | #62 | ▲ +52 |
| 11 | Russia | Europe | 0.635 | #52 | ▲ +41 |
| 12 | South Africa | SSA | 0.618 | #19 | ▲ +7 |
| 13 | Ghana | SSA | 0.593 | #54 | ▲ +41 |
| 14 | Mexico | LATAM | 0.583 | #23 | ▲ +9 |
| 15 | Colombia | LATAM | 0.579 | #39 | ▲ +24 |
| 16 | Indonesia | APAC | 0.567 | #32 | ▲ +16 |
| 17 | Romania | Europe | 0.559 | #17 | no shift |
| 18 | Pakistan | APAC | 0.546 | #59 | ▲ +41 |
| 19 | Vietnam | APAC | 0.546 | #38 | ▲ +19 |
| 20 | India | APAC | 0.537 | #43 | ▲ +23 |
| 21 | Poland | Europe | 0.526 | #12 | ▼ -9 |
| 22 | Georgia | Europe | 0.515 | #24 | ▲ +2 |
| 23 | Iran | MENA | 0.506 | #64 | ▲ +41 |
| 24 | Thailand | APAC | 0.501 | #33 | ▲ +9 |
| 25 | Malaysia | APAC | 0.500 | #29 | ▲ +4 |
| 26 | Uzbekistan | APAC | 0.485 | #60 | ▲ +34 |
| 27 | United Arab Emirates(UAE) | MENA | 0.479 | #10 | ▼ -17 |
| 28 | Kazakhstan | APAC | 0.472 | #50 | ▲ +22 |
| 29 | Switzerland | Europe | 0.461 | #1 | ▼ -28 |
| 30 | Sri Lanka | APAC | 0.460 | #58 | ▲ +28 |
| 31 | Italy | Europe | 0.457 | #7 | ▼ -24 |
| 32 | United States(USA) | N.America | 0.447 | #3 | ▼ -29 |
| 33 | Germany | Europe | 0.443 | #5 | ▼ -28 |
| 34 | Zimbabwe | SSA | 0.443 | #70 | ▲ +36 |
| 35 | Australia | APAC | 0.442 | #4 | ▼ -31 |
| 36 | Canada | N.America | 0.441 | #2 | ▼ -34 |
| 37 | Czechia | Europe | 0.440 | #13 | ▼ -24 |
| 38 | Netherlands | Europe | 0.428 | #8 | ▼ -30 |
| 39 | Portugal | Europe | 0.426 | #14 | ▼ -25 |
| 40 | Kenya | SSA | 0.426 | #47 | ▲ +7 |
| 41 | New Zealand | APAC | 0.419 | #11 | ▼ -30 |
| 42 | Chile | LATAM | 0.413 | #45 | ▲ +3 |
| 43 | Spain | Europe | 0.408 | #16 | ▼ -27 |
| 44 | Belarus | Europe | 0.404 | #65 | ▲ +21 |
| 45 | Singapore | APAC | 0.404 | #15 | ▼ -30 |
| 46 | Taiwan | APAC | 0.401 | #42 | ▼ -4 |
| 47 | France | Europe | 0.400 | #18 | ▼ -29 |
| 48 | United Kingdom(UK) | Europe | 0.392 | #21 | ▼ -27 |
| 49 | Greece | Europe | 0.389 | #26 | ▼ -23 |
| 50 | Sweden | Europe | 0.384 | #25 | ▼ -25 |
| 51 | Israel | MENA | 0.377 | #34 | ▼ -17 |
| 52 | Cyprus | Europe | 0.376 | #31 | ▼ -21 |
| 53 | Panama | LATAM | 0.368 | #49 | ▼ -4 |
| 54 | South Korea | APAC | 0.366 | #30 | ▼ -24 |
| 55 | Hong Kong | APAC | 0.365 | #27 | ▼ -28 |
| 56 | Peru | LATAM | 0.363 | #53 | ▼ -3 |
| 57 | Ireland | Europe | 0.358 | #35 | ▼ -22 |
| 58 | Malta | Europe | 0.353 | #37 | ▼ -21 |
| 59 | Estonia | Europe | 0.349 | #44 | ▼ -15 |
| 60 | Finland | Europe | 0.347 | #36 | ▼ -24 |
| 61 | Morocco | MENA | 0.342 | #69 | ▲ +8 |
| 62 | Lithuania | Europe | 0.338 | #46 | ▼ -16 |
| 63 | Senegal | SSA | 0.334 | #68 | ▲ +5 |
| 64 | Saudi Arabia | MENA | 0.333 | #56 | ▼ -8 |
| 65 | Hungary | Europe | 0.332 | #55 | ▼ -10 |
| 66 | Tanzania | SSA | 0.325 | #66 | no shift |
| 67 | Egypt | MENA | 0.324 | #72 | ▲ +5 |
| 68 | Japan | APAC | 0.318 | #48 | ▼ -20 |
| 69 | Cote d'Ivoire | SSA | 0.317 | #67 | ▼ -2 |
| 70 | Bahrain | MENA | 0.311 | #51 | ▼ -19 |
| 71 | Cambodia | APAC | 0.283 | #63 | ▼ -8 |
| 72 | Bangladesh | APAC | 0.263 | #74 | ▲ +2 |
| 73 | Myanmar | APAC | 0.253 | #76 | ▲ +3 |
| 74 | Uganda | SSA | 0.230 | #71 | ▼ -3 |
| 75 | China | APAC | 0.225 | #73 | ▼ -2 |
| 76 | Nepal | APAC | 0.214 | #79 | ▲ +3 |
| 77 | Ethiopia | SSA | 0.208 | #75 | ▼ -2 |
| 78 | Iraq | MENA | 0.186 | #78 | no shift |
| 79 | Algeria | MENA | 0.176 | #77 | ▼ -2 |
Read the index in full in Chapter 2, or see how every score is built in the methodology.
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How to cite
Genghis Research (2026). The State of Living on Crypto 2025. 1st ed. London: Genghis Research. Dataset: CC BY 4.0.