If you’re getting started with your cryptocurrency journey, you may want to consider crypto-friendly countries. These countries have made it easy for citizens to invest in digital currencies, and they have shown support for the blockchain technology that powers Bitcoin and other cryptocurrencies.
Without further ado, here are seven of the most crypto-friendly countries.
1. Australia
First and foremost, Australia was one of the first countries to adopt Bitcoin as a legal currency and continues to be at the front of blockchain technology development, making the country one of the most crypto-friendly countries. In addition, Australia has low taxes, and you can check this helpful site to have a clear understanding of the recent taxation guidelines for Bitcoin in Australia.
Another great reason to invest in Bitcoin in Australia is the fact that there are many exchanges that enable convenience when buying and selling cryptocurrencies. Moreover, the Australian dollar is strong, making it a desirable investment destination for those looking to diversify their portfolio with digital assets.
2. Japan
Being among the first countries to recognize Bitcoin as a legal currency, Japan is a great place to invest in Bitcoin. The government has been supportive of cryptocurrency and its underlying technology––blockchain––making it a safe and conducive environment for cryptocurrency businesses.
Additionally, Japan has a large and active cryptocurrency community, and it’s constantly growing. So, if you’re looking for a place to invest in Bitcoin, Japan is a great option.
3. Switzerland
Switzerland has a history of being an innovative and independent nation. It’s also home to the Crypto Valley, a global center for blockchain technology. With that said, many people are moving to Switzerland to take advantage of its crypto-friendly environment. In addition to investing in Bitcoin and other cryptocurrencies, Swiss citizens can also pay their taxes with Bitcoin.
Moreover, Switzerland is working on creating a new legal framework for Initial Coin Offerings (ICOs). This framework will be based on trust, integrity, and security principles. It’ll also allow ICOs to raise money from Swiss and international investors.
Finally, Switzerland has announced that it plans to launch its national cryptocurrency. This cryptocurrency will be called the Swiss Franc, and it’ll be based on the Ethereum blockchain.
4. China
After the recent news of China planning to launch its cryptocurrency, many people are looking into investing in Bitcoin. The Chinese government hasn’t issued any moves to restrict or outlaw Bitcoin and other cryptocurrencies yet, and there are many exchanges there where you can buy and sell them.
Bitcoin is also very popular in China, so you can be sure that there will be a strong demand for it, especially if the Chinese government decides to launch its cryptocurrency. The only downside to investing in Bitcoin in China is that the market is quite volatile, so you have to be patient if you want to see some profit. Besides, being impatient is a common mistake people make while investing in Bitcoin, so regardless of where you are, always have patience when investing in cryptocurrencies.
5. Malta
Although a small island nation, Malta has made big waves in the crypto world. The country has been praised for its proactive approach to regulating cryptocurrency and blockchain technology. Additionally, Malta offers some incentives, like low taxes and a relaxed business environment, to companies that want to set up shop there. Therefore, it’s no surprise that Malta has become a hotspot for Bitcoin and other cryptocurrency investors.
6. Singapore
Singapore has made it clear that it plans to become a global leader in fintech, including blockchain technology. Additionally, the Monetary Authority of Singapore has created a regulatory framework for bitcoin and other digital currencies. This framework sets out the rules for businesses that want to operate in the country and helps protect investors.
Singapore also offers several benefits for cryptocurrency investors. For example, there are no capital gains taxes on Bitcoin investments, and there’s no stamp duty when purchasing or selling cryptocurrencies. In addition, the country has a very low corporate tax rate––17%.
With a strong economy, Singapore is one of the most developed countries. This makes it suitable to invest in Bitcoin and other digital currencies.
7. The United Kingdom
If you’re getting started with crypto and looking for a safe place to invest, the UK might be an excellent place to start. The UK has been relatively crypto-friendly, and the government has said it plans to invest in blockchain technology. In addition, the Bank of England (BOE) has been studying cryptocurrencies and their potential implications for the British economy.
The UK also has a well-developed financial system, so you’ll have plenty of options for exchanging your bitcoin for pounds sterling. London is also one of the leading financial centers, making it a great place to do business.
Final Thoughts
With the fast-growing demand for Bitcoin and other cryptocurrency currencies, it’s crucial to know the most crypto-friendly countries. Mentioned above are some of the best countries to invest in Bitcoin due to their relaxed regulations and positive attitude toward digital currencies.
