DENVER (KDVR) — Colorado’s interest in cryptocurrency trading is some of the nation’s highest.
Cryptocurrency trading is much like other stock, commodities or currency trading – buying and selling digital currencies such as Bitcoin, Ethereum, or Litecoin, on cryptocurrency exchanges or other trading platforms. Traders generate massive gains or losses based on the currencies’ generally high levels of volatility.
Cryptobetting.org looked into how much each states’ residents use crypto-related search terms to see which state has the highest levels of interest. Colorado, which is both younger and more tech-heavy than most U.S. states, ranked eighth.
According to the analysis, there are 1,710 crypto-related search terms used in Colorado for every 100,000 people. Virginia and Massachusetts have roughly the same.
Gaming capital Nevada ranked first in the nation, with 1,959 crypto-related searches per 100,000. Mississippi has the nation’s lowest crypto interest, with only 686 searches per 100,000.
States with high crypto-related search levels tend to be states with both high income levels and high concentrations of tech and finance workers.
Nevada, California, New York, New Jersey and Washington have the nation’s five most crypto-interested residents.
Southern states, on the other hand, only search crypto-related terms with a fraction of their coastal peers’ frequency. Mississippi, West Virginia, Louisiana, Arkansas and Kentucky search crypto terms half as much as the most interested states, on average.