Annual cryptocurrency trading volume in Czechia 2019-2022

Cryptocurrencies are virtual commodities designed as currencies without a centralized regulating authority. They have value only because their users agree upon the value, same as regular currencies. However, since there is no central authority to guarantee the price, the price can easily change.

Cryptocurrency in Czechia

With the rising use of cryptocurrency worldwide and increasing quantity, it is no wonder that cryptocurrency trading is gaining popularity in Czechia. However, due to the collapse of several cryptocurrencies and the FTX exchange, the total trading volume in 2022 was estimated to be around 3.5 billion Czech koruna, one billion and a half less than the previous year. Moreover, the interest of Czechs in cryptocurrencies and their ownership has decreased when compared to 2021.

Czechs experience with cryptocurrencies

Czechs have become overall more familiar and experienced with cryptocurrencies over the past years. This increased knowledge applies to the most famous cryptocurrency – Bitcoin - and to other cryptocurrencies. An improving infrastructure supports cryptocurrency trading. The number of businesses accepting them as a payment method and ATMs is rising.