And the fight to make it to the best Bitcoin/Blockchain Tech friendly countries continues.
“The use of this new technology will allow Fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer” – France Minister for the Economy Bruno Le Maire.
Over the last 2 years, we have seen major changes in terms of the most crypto friendly countries. As we know, the major players have remained US, Australia, Sweden, Switzerland, Germany and many more we shall be looking at.
However, the truth is, a lot has changed in just a couple of days. More unknown countries are coming in to embrace the Blockchain technology with great audacity.
But the question is, why the fight when 3 years ago Bitcoin was not a great idea? A more interesting part is the stat below.
According to a stat from Google, the keyword “Buy Bitcoins” rose to more than a million for the first time on the Google search engine”.
As was shown by Coinbase exchange, her users increased almost 300X since November last year.
Let’s see some insights from the analytics above.
After reading the articles above with understanding, what was the result?
Several citizens were canvassing on upvoting their countries as the best accommodating in Blockchain tech.
Where? At the last Blockchain Show.
During the last concluded Blockchain Show by Cointelegraph, the tussle to become the first meant, if I blink you in the eye, vote for me, and I, in turn, will vote for you.
However, since this goes beyond being ranked on paper, here at iwillteachucrypto.com, I prefer to speak the community’s mind. I mean, what the experiences of the community are in most cases – data and analytics.
So, I will consider options like the tax. Wait, why tax?
I think the buzz of cryptocurrency mining, trading and the rest has entered into the Government of nations’ hears, and they are not willing to leave no stone unturned.
They believe that if you must stay in the country and trade crypto and make profits, you don’t only have to keep it to yourself. Boy, you’ve got to pay tax for community projects to go on.
With that said, do you think that paying of tax should be a worthy condition to rank Blockchain/Bitcoin friendly countries? Personally, I think, no.
For instance, in Nigeria, the citizens are not paying crypto trading taxes or surcharges, yet, you can’t see anywhere to trade your Bitcoin smoothly. In fact, the government put up a ban on crypto related operations – not severe though like to close down exchanges.
If taxation can’t be a condition for measuring these countries, what then?
I think a worthy condition should be based on adoption (mostly the government getting involved). Yeah, that will be the right consideration point since there are no uniform regulations to determine the stats/analytics.
- 1 What’s So Special In possessing A Blockchain Cryptocurrency?
- 2 THE GOVERNMENT AND CRYPTOCURRENCIES
- 3 THE CURRENT & LEADING BLOCKCHAIN TECHNOLOGY (FRIENDLY) COUNTRIES
- 4 LIST: THE MOST BLOCKCHAIN/BITCOIN FRIENDLY COUNTRIES
- 4.1 1. AUSTRALIA
- 4.2 2. BELIZE
- 4.3 3. BELARUS
- 4.4 4. BULGARIA
- 4.5 5. CANADA
- 4.6 6. CYPRUS
- 4.7 7. ESTONIA
- 4.8 10. GERMANY
- 4.9 11. GHANA
- 4.10 12. GIBRALTAR
- 4.11 13. GEORGIA
- 4.12 14. HONG KONG
- 4.13 15. JAPAN
- 4.14 16. MALTA
- 4.15 17. MEXICO
- 4.16 18. NIGERIA
- 4.17 19. NETHERLAND
- 4.18 20. NORWAY
- 4.19 21. PHILIPPINES
- 4.20 22. ROMANIA
- 4.21 23. RUSSIA
- 4.22 24. SEYCHELLES
- 4.23 25. SINGAPORE
- 4.24 26. SLOVENIA
- 4.25 27. SOUTH AFRICA
- 4.26 28. SOUTH KOREA
- 4.27 29. SWEDEN
- 4.28 30. SWITZERLAND
- 4.29 31. TAIWAN
- 4.30 32. UNITED KINGDOM
- 4.31 33. UNITED STATES
- 4.32 34. UNITED ARAB EMIRATES
- 4.33 35. UKRAINE
- 4.34 A CASE WITH THE UNITED STATES
- 4.35 BIG INSIGHTS TO CRYPTO HODLERS
What’s So Special In possessing A Blockchain Cryptocurrency?
While others are scrambling on whether to or buy cryptocurrency, others are looking at being Bitcoin millionaires in December 2018 when the price of Bitcoin stands at $25,000 – according to an analysis by Finder.com.
That’s not all. People do not just love cryptocurrencies because they want back-end profits. For the fact that cryptocurrency works on a decentralized network which allows users to transact directly without a middleman is one of those dynamics options we love it.
And of course, since cryptocurrency increases system efficiency and enables the provision of financial services at a cost-effective way, more enthusiasts are being attracted on a daily bases – I am a Ripple believer.
The most interesting part?
They can easily buy these cryptocurrencies as far they have created beginners crypto wallet, and also know how to copy and send their wallet address in exchange for preferred cryptocurrency coins.
THE ADOPTION OF BITCOIN/BLOCKCHAIN?
“More than 16.3 million Americans own some cryptocurrencies or the other” – finder.com.
Moreover, the hype of Blockchain has seen many eyebrows raised even when 80% of the participants do not truly know what it means and the essence.
In spite of this, the ones that know what it has to offer have adopted it with a rapt audacity with the viable potential to change the economy and major projects based on the industries.
For an example, you cannot rule out Blockchain projects like Nano Vision, Ripple, Selfkey and etc.
Ripple as we know functions to create a connection with banks, payment providers, digital asset exchanges, and corporations.
Talking Ripple, do you know that it is the second fastest and the most used method of payments after Visa in just a few years of existence?
What does that tell? To rush in and buy some Ripple coin? Hell no!
Ripple is not a short-term coin you hope to sell and make an instant profit. For now, it’s the functionality and what it was built for that matters.
Let me be focused. Let’s continue to see other viable Blockchain projects.
Selfkey offer users, organizations, and individuals complete control of their identity through a blockchain-based system that stores a user’s data and documents locally on their own devices,
Nano Vision aims to spur innovation by creating a solution for anyone, whether they are scientists, doctors or simply engaged civilians, such that they will have access to the data collected through research that has been recorded on Nano Vision’s platform.
Mandala, offers an open checkpoint to trade crypto with lower fees and manage hardware wallet online.
See: 25 Live Changing Startups Using Blockchain Technology Since 2013
THE GOVERNMENT AND CRYPTOCURRENCIES
Some Government of Nations are not playing cool with cryptocurrencies. In fact, India is so serious about banning the whole thing (about cryptocurrencies) after China said no way in late December 2017.
Howbeit, China thinks that Blockchain has a great feature to offer. But what now?
This is it. When a country fails to adopt the Blockchain concept, two questions you need to ask are: do they truly understand the Blockchain technology? If they do, do they want a transparent system of government in terms of finance and other spheres?
Why would Countries like Switzerland and Burundi for an example find it adequate for electoral transparency? The two countries want to test the Blockchain innovation in her country’s political election system to see how well it will go.
So, if a country says no to the Blockchain technology, it is either they do not understand it like a kindergarten language, else, they have some linen they don’t want to wash in the open.
This is one of the concerns. Israel believes that it will disrupt the government financial operations, same as others that have kept silent.
Wait, did Nigeria ban Bitcoin because of Blockchain Technology, I mean like being afraid to use it in her financial and political systems? Hahahah.
The day Nigeria adopts the Blockchain Technology in her Finance and Electoral processes, automatically stop seeing them as a corrupt government nation.
Is it not on the Blockchain the citizen’s votes during elections will be recorded, or can some of the officials use hoodlum & guns to edit the Blockchain? I guess no.
And if finance, would everybody not see the number of crypto blocks running?
The point is that every nation knows why they are saying NO TO BLOCKCHAIN. And we need to know why, at least her citizens – if they truly understand the concept of the Blockchain technology.
In the words of cryptocomes.com, “The lawmakers’ dilemma”. I quote “Traditionally, money is issued by the central bank and it has a strong backing in terms of gold/foreign exchange which keeps its value.
The advent of Blockchain technology has made it possible for people to get access to currencies which are not issued by the central bank.
The robust and decentralized nature cryptocurrencies also make it difficult to link it to an owner as required by regulators. In simple terms, it is difficult to identify criminal transactions.
This is giving lawmakers sleepless nights”.
That is true to some extent. But the legislatures of Colombia did something rather wonderful.
As I showed in the case study, the Colombian Senate had a fight on cryptocurrencies and Blockchain as “mechanisms to modernize her digital economy”.
Now, that is a good thing. It just shows that some countries are adapting to what is working.
This works like charm. See: 35 Case Study Growth of Blockchain Technology Changing the Fintech Industries In 2018
Alright, here we go.
THE CURRENT & LEADING BLOCKCHAIN TECHNOLOGY (FRIENDLY) COUNTRIES
Follow us on (RSS) and get all Crypto Data & Blockchain Analytics.
Call Mr. Weirdo …
Is it surprising that the US is not so a friendly partner with many crypto exchanges? Is it just a fluke, or there is something more we don’t know?
In the US, currently, (June 2018) both the FBI and the Department of Homeland Security are investigating the Crypto revolution.
Even with the latest ICO crypto exchange like Mandala, for a US citizen to buy the Tokens, there must be an extra process if at all will be successful.
Well, I don’t know the reason, but what I think is that we will see a long walk to the REAL crypto fluency in U.S.
If you doubt, try withdrawing Cryptocurrency using your credit card on CEX exchange.
What about the UK?
Even the United Kingdom – lately, London has failed to adopt the crypto/Blockchain as they would have. They are scrambling on matters.
Well, it is all good because investors and partners do not lack players to play the Bitcoin/Blockchain game. Players like Sweden, Malta, and Switzerland are all there.
And the most interesting part is that these countries are generating a huge amount of revenues from the startups operating in the country.
With these established, below are some current buzzing and top Bitcoin/Blockchain friendly players.
Switzerland has long time been the favorite financial nation for investors all over the world. So, for them to create buzzes in the Blockchain technology today is not a fluke.
When I firstl heard of ZUG, I thought it was an ICO, not knowing it was a city in Switzerland.
The next question I asked was, why was it so popular?
Perhaps, you haven’t heard of ZUG, but, this is where the Blockchain Technology is most relevant.
The number of Blockchain Startup present there qualifies the argument.
As a matter of fact, it is known by some as the “Glory of Crypto Silicon Valley”.
As cool as a warm water, Australia is a top Bitcoin/Blockchain friendly country. Yet if you ask a question such as “does Australia drive Bitcoin and FinTech Development in the Southeast”? You will be greeted with a double goods and services tax.
Well, that was last year. Because since July 2017, the government of Australia decided to play along wherefore the double goods and services tax (GST) was dropped.
And the result?
Enhanced by the smooth Bitcoin rule, the Growth of Bitcoin payments alone have grown over 3000% in the last 3 years.
I forgot to tell you that Australia is considering introducing her own cryptocurrency – token. Let’s keep our fingers crossed.
Canada was the very first country that had a crypto ATM, and also the first in the world to go cashless.
In recent times, the Blockchain is quietly being adopted in Canada with many startups coming in to find value with it.
While they are completely open to the Blockchain tech, however, they are quite considerate about Bitcoin.
Until now, the Canadian Government is still investigating the impact of the crypto/Blockchain and how it can change their country.
In fact, in Canada, Bitcoin is classified as a commodity with Anti Money Laundering Laws in place to make sure they know what they are getting into – not bad though.
I love the German women CryptoLife.
It isn’t a news anymore that in Germany, Bitcoin is now legal tender. Somehow, they have made it as a top Bitcoin friendly country.
The mathematical function raised to power X of this was due to Germany’s finance ministry bringing Bitcoin one step closer to legitimacy by declaring it a “unit of account,” This was a declaration that thus allowed it to be used as legal currency for tax and trading purposes.
For an example, we have seen a startup like the Allianz wanting to work with the Blockchain industries to aid car supplies – the want to partner with Auto1.com.
The most interesting point? Just say hello.
Hello to the German women for challenging the men to invest in cryptocurrency.
“In my view, cryptocurrencies, Bitcoin, and others – the way I’ve seen them so far – they don’t meet the criteria to be called money. They can be called an asset, fine, but they are not a very good version of money because it’s not a very stable store of value where they fluctuate a lot.
And it’s not a very efficient medium of exchange because you don’t buy your groceries with bitcoin.” – The Deputy Governor of Riksbank, which is Sweden’s Apex Bank, Cecilia Skingsley
So, in Sweden, Bitcoin is not money but an asset? Right, I reserve my comment.
As we know, Sweden is a great financial state. In fact, it is the number two most cashless nation in the world after Canada.
With more Blockchain adoption, the nation may grow into what can be termed a “Great Crypto City”. More on that later.
Yes, Slovenia, in case you didn’t see it coming.
Agreed, not popular like the rest, but Slovenia has already done something so many other Blockchain friendly countries haven’t done. You want to know what they have done?
This is it.
The country has the strongest civil support of Bitcoin in the world. It operates a public organization Bitcoin Association and it is headed by no other than a known crypto enthusiast, Jure Pirc.
The more daunting adoption? The country aims to popularize and promote Bitcoin crypto initiatives at the state level.
Of course, without doubts, right?
Malta has become popular because of the blockchain industry. From nowhere, a lot of crypto exchanges find this country a great and favorable place to lay their heads.
After Prime Minister Joseph Muscat in a speech at the CEPS Ideas Lab Forum in Brussels said: “Europe can become a Bitcoin-continent, and Malta – it is Silicon Valley “, the country of Malta has seen legions of Bitcoin/Blockchain startups come in for real business.
Recently, they country’s authority just signed three bills to support the Blockchain -crypto revolution.
As we know, the World‘s largest crypto exchange, Binance, recently made it known that a fiat bank will soon be open in Malta, after being open to moving to Malta.
How can I forget about Japan? Surprised that they have made it here? Well, I am not. This is where Bitcoin is more like a real currency.
In Japan, I can even point a finger at the next Bitcoin ATM or shop to transact easily.
Recently, Japan has embraced the Bitcoin growth, thanks to a soft approach from the government and much higher adoption.
Japan continues to lead the way in the East with its approach and as such, there is a higher interest from the citizens, including the self-proclaimed ‘Miss Bitcoin.’
One notable point is the financial system Japan has, and will continue to evolve.
As was reported in a publication, the turnover of Bitcoin and other cryptocurrencies in Japan is expected to reach trillions of YENs.
The U.S has made it to the list because most of the states have an independent form of financial control.
Just of recent, the Colorado state ignited her taste for the Blockchain tech by opting to use it for her cyber data protection.
The bill which was passed on May 7, 2018, by the Senate involves using Blockchain tech for government record keeping and cybersecurity.
Now, that is a positive move from the Colorado state.
Hong Kong recently has been the destined hub for many investors and Blockchain startups.
As a matter of fact, a publication showed that some citizens are investing on crypto even when they don’t really know “WHY”.
Although, the laws are kind of strict in terms of regulations and compliance, yet, when you play along with it, you are good to go.
THE TRUTH ABOUT THESE TOP FRIENDLY COUNTRIES
Do you know Jimmy Wales? You should. But should you not. He is the “failure man” behind Wikipedia.com – the info encyclopedia.
This is what he had to say about the Blockchain revolution.
“You can’t Ban Blockchain. It’s math, and an essential part of innovation”
Let’s compare that with the countries playing foul.
I don’t know what the government of other countries think, but the truth is that with the Profit Binance alone makes, Malta is for sure a GREAT Benefactor. Same as Switzerland and other countries opening their hands for new Blockchain startups to thrive.
Binance Exchange for instance has left a stage of making massive profits, they are now giving back to the society by sponsoring Blockchain projects. In Kenya, you will see a lot of it.
LIST: THE MOST BLOCKCHAIN/BITCOIN FRIENDLY COUNTRIES
There is no doubt that more Australians may have bought Bitcoins overseas, as no GST applies to Cryptocurrency in most overseas jurisdictions.
Since the Crypto/financial laws are accommodating, is it not a surprise that the Blockchain enthusiasts have increased as well.
Where to buy Bitcoin/Cryptos in Australia: Coinmama or CoinSpot
It is not a surprise that Belize is one of the Bitcoin/Blockchain tech friendly countries.
As Bitcoin is becoming a global phenomenon, Belize is growing gradually to be a top Bitcoin friendly country.
And the best news? Personal freedom is at the core of what Belize is all about. Not just that. Taxes are low, government interference is minimal, and life is what you make of it.
With this freedom and more, you can easily invest in real estates with Bitcoin in Belize.
Where to buy Bitcoin/Cryptos in Belize: Coinmama
Belarus, although not popular as other Blockchain countries yet, crypto/Blockchain expansion is going on. Recently, the country financial term promised 5 years tax-free for cryptocurrency related businesses.
“Thank God, Bulgaria can pay her debt now with over 210,000 Bitcoins in possession”.
Became a popular Bitcoin country due to a crackdown of an organized crime by Bulgarian law enforcement in May which resulted in the seizure of more than 200,000 Bitcoins – an amount worth more than $1 billion at today’s prices.
The exact amount 200,000 X $6,000 (ATTW) = $1,200,000,000
With more enlightenments, Bulgaria is slowing becoming a Bitcoin friendly hub.
Where to buy Bitcoin/Cryptos in Bulgaria: Coinbase
(ATTW: At the time of writing.)
Canada as one of the Bitcoin friendly countries is not a superstition. Why? Canada was the first cashless nation in the world.
Apart from that. Even though they are crypto friendly, like the U.S, certain laws restrict her citizens to participate in some Blockchain startups outside the country.
If you are from Canada, a friendly crypto exchange you can take solace and trade easily is Coinbase.
With the digital currency in the country at a high demand since 2013 when the debt crisis happened, Bitcoin in Cyprus had a long time ago become an alternative to bank deposits.
Even though the legal basis for cryptocurrencies in Cyprus is in development, her citizens at least are happy that they can trade and invest in stock exchange assets using cryptocurrency.
Where to buy Bitcoin/Cryptos in Cryrus: Coinbase
Certainly, top on the list of the best Bitcoin/Blockchain tech friendly countries. Estonia is a Bitcoin friendly country. With a financial friendly law for Fintech startup, Estonia has been a destination for Blockchain investors.
Where to buy Bitcoin/Cryptos in Estonia: Coinmama
The home of buying Bitcoin from any country. Finland is a cool country where the Bitcoin evolution has taken place.
As a matter of fact, it is at Finland we have the world’s best p2p Bitcoin exchange – LocalBitcoins.
Anybody that wants to buy “Bitcoin only” in local currency from around the world goes to the Universal LocalBitcoins.com.
A long walk here with Bitcoin in France.
“The use of this new technology will allow Fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer”.
This was admitted by France Minister for the Economy Bruno Le Maire after a great announcement “We want a stable economy”
Although Bitcoin transactions are friendly, we shouldn’t expect much stretch out yet until the nation’s crypto regulations are laid down.
Where to buy Bitcoin/Cryptos in France: CoinmamaorCoinbase
Firstly dubbed as “Bitcoin Capital of Europe” by the Guardian in 2013, and since then, a number of other businesses have accepted cryptocurrency as a form of payment.
As the amount of women considering an investment on cryptocurrencies has gone from 6% to 13%, 1 out of 3 persons in Germany has invested in the crypto revolution.
This is what the Executive Director of Hyperledger Brian Behlendorf had to say about the revolution. “I expect Blockchain technology to curb the power of Silicon Valley’s major technology companies”.
Without doubt Germany aims to become the top 5 crypto nation.
Where to buy Bitcoin/Cryptos in Germany: Coinmama
Ghana is really coming up to fight South Africa to become the first Bitcoin Hub in Africa.
After the country pioneered the first bitcoin dot com live in 2016, this October 2018, they will be holding her second Ghana Blockchain Conference themed “Blockchain Technology For Development” taking place in Accra.
Well, as for crypto regulations, there is none, so, you can deal with your crypto life as you please.
Where to buy Bitcoin/Cryptos in Ghana: Coinmama or Luno
Gibraltar, although slowly, is moving its Blockchain friendliness to the next level. Just recently, the country’s first ATM was installed where users can transact $10 or more.
Wait a minute, who would have thought that Gibraltar could make it as one of the best Bitcoin/Blockchain tech friendly countries?
More so, the Gibraltarian government published a consultation paper in January 2016 on digital currency regulation. Since then, it has been discussing a regulatory framework for cryptocurrency businesses.
As was reported by Street.com, a growing number of cryptocurrency companies are moving to Gibraltar.
And of course, if the story is true, then we can expect a faster growth in the country’s Blockchain system.
Where to buy Bitcoin/Cryptos in Gibraltar: LocalBitcoins
Another noiseless Bitcoin friendly country.
Get FIAT in-and-out directly using your debit/credit cards? That only happens in Georgia most of the time.
People love Georgia because you can transact, trade and invest with no crypto taxes or whatsoever.
As a matter of fact, Bitcoin mining is encouraged in Georgia as the electricity is cheap.
Where to buy Bitcoin/Cryptos in Georgia: Coinmama
14. HONG KONG
Hong Kong, a shipping and banking hub, is embracing Blockchain Technology as the city looks to become a leader in Fintech.
An increasing number of Hong Kong entrepreneurs and policymakers are convinced that Blockchain will eventually reshape everything.
However, the SFC warned on December 11 that Bitcoin and other cryptocurrency-related investment products had to follow existing legal and regulatory requirements.
According to Fintechnews, over the past years, Hong Kong’s Blockchain and Crypto startups scene has demonstrated rapid growth, creating some of the most established startups in Asia such as cryptocurrency exchange platform Gatecoin, global remittance platform BitSpark, and cryptocurrency derivatives trading platform BitMEX.
Hong Kong’s central bank itself is developing its own digital currency and is testing Blockchain for trade finance, mortgage applications, and e-check tracking.
Just to note,
The upcoming Blockchain Conference Hong Kong, which will be taking place on November 10 at the Renaissance Hong Kong Harbour View Hotel, is the second installment of the annual Blockchain event series organized by Fintech Worldwide.
Where to buy Bitcoin/Cryptos in Hong Kong: Coinmama
Popularly known as the Land of the rising sun first. As Bitcoin serves as a full tender, the banking system in the country has dramatically changed.
In fact, according to a publication, “Nikkei – a crypto enthusiast” projected that in 2020, the turnover of Bitcoin and other cryptocurrencies in Japan may reach trillions of Yen.
More so, with a great IT giant firm like Fujitsu launching Blockchain-Based rewards system for retail, today, you can easily transact with Bitcoin as ATMs are everywhere.
What more can I say, Japan has grown digitally as even salaries are starting to be paid partly in Bitcoin. Now, that is a Blockchain explosion.
Where to buy Bitcoin/Cryptos in Japan: Binance
The Government of the Republic of Malta strongly supports cryptocurrency with an open hand.
With a developing Blockchain strategy that will affect cryptocurrency; the first version of the document was submitted for consideration and approved in April 2017.
As odd as it may seem for other countries, Malta also plans to legalize gambling cryptocurrency.
This and more has resulted in the influx of Blockchain investors matching in.
For the citizens of Malta, it is no news that they can easily buy Bitcoin/Cryptos at Binance – favorable conditions for local users.
The most interesting part is that the authority just signed three crypto-Blockchain laws.
In Mexico, we are just waiting for the president to give his signatory, after that, then call us a full grown crypto friendly country – the Mexican myth.
Although not a Blockchain country per se, SEC had a bounce on Mexico crypto operations which led to the regulation strive.
Hopefully, if there is a proper regulation, then the Blockchain projects can fully come into play.
Where to buy Bitcoin/Cryptos in Mexico: Coinmama or CEX.io
Dubbed as the giant of Africa. No doubt about that.
However, when it comes to the government getting involved in the Blockchain industry, it is a capital no! If you are a citizen, being greeted with a line such as “Cryptocurrency is banned!”, is not a new thing.
Really, it is difficult to adopt what you don’t understand though.
Nevertheless, in Nigeria, you can buy and sell Cryptocurrencies easily – but not like day-trading on local exchanges like what is applicable on Binance or CEX.
All you do on Nigerian exchanges is to buy or exchange your crypto to fiat. There is a no regulation of any sort – just do YOUR crypto thing your way.
Where to buy Bitcoin/Cryptos in Nigeria: Luno or ngexchanger
Not all that “a Bitcoin” friendly nation. However, the Netherlands are testing out the Blockchain technology for good or best.
With a research going on to ascertain the new Tech adoption, the country’s Land Registry is expected to test Blockchain technology for national real estate data and local tech platform computable.
Until the outcome is truly positive. Then we can categorize it as a true Crypto/Blockchain nation.
Where to buy Bitcoin/Cryptos in Netherland: Coinbase
Norway is nailing it on the head as a Bitcoin country but not a full Blockchain region.
Being a recognized country on Coinbase exchange direct purchase, Norway believes that bitcoin is an asset.
According to Norwegian Tax Administration, they stated in December 2013 that they don’t define bitcoin as money but regard it as an asset.
However, in Norway, it is considered that Bitcoin Profits are subjected to wealth tax just as in business.
The good news for her citizens is that in February 2017, the Norwegian government stated that they would not levy VAT on the purchase or sale of Bitcoin.
So, while they do not major yet in the Blockchain dynasty, the Bitcoin business can thrive as we wait for her Blockchain’s adoption like in other countries.
Where to buy Bitcoin/Cryptos in Norway: Coinbase or CEX.io
Philippines is one crypto nation that made it to the news with a rather popular vague/cryptocurrency called TBC – The Billion Coin. The TBC, apart from being a “shit coin” is dubbed a Scam Coin because from its design, how can a cryptocurrency grow at a daily value of 3% or more?
Interesting to know, this coin is costlier than Bitcoin. So, we can conclude that it’s the most valuable cryptocurrency out there. 😀
However, away from that. The Philippines is a Crypto friendly country. In fact, just of recent, news broke out that a community was officially approved to use her own local cryptocurrency in financial transaction/trades.
That being said. As far as the country’s government system with cryptocurrency transaction is okay, then the Philippines country makes it as a Bitcoin friendly country.
Apart from TBC, if you want to buy Bitcoin/Cryptos in the Philippines, you can use Coinmama or VirWoX.
Answer this: What is a shit coin?
It is a good thing that the Romanian government is giving cryptocurrency a place in their heart.
In a quest to make things smoother, the Romanian Business and Commerce Minister, Ilan Laufer said he believes it is imperative for the government and regulatory bodies worldwide to regulate Bitcoin for gaining optimum benefits.
Although the exact kind of regulations is not unveiled, for now, the Romanians can continue transacting crypto comfortably.
Where to buy Bitcoin/Cryptos in Romania: Coinmama or Coinbase
“The Stone Age did not end due to the lack of stones, but because new technologies appeared.” – Russian president.
Russia, although robust in many sectors like the oil, gas, coal, metals of all kinds […] gold, platinum, diamonds, and almost everything!”, the president thinks that they need to take the maximum advantage of technology in order to guarantee this progress into the future.”
So, with a slow adoption, the Russians can enjoy what they already have in store – an open crypto transaction and operations.
Where to buy Bitcoin/Cryptos in Russia: Coinmama or LocalBitcoins
I like this crypto nation. In the last 3 years, Seychelles has drastically grown to be a big crypto friendly hub; both for investors and startups.
Notably, with a favorable financial laws/regulations, we have seen startups such as Paxful and Remitano crypto exchanges strive there.
If things continue the way they are, then Seychelles might grow into the top 10 if not 6 most Blockchain/Bitcoin friendly countries.
Should you want to use an exchange like Paxful for trading, you need to be extra careful.
You want to use only verified sellers. If they are not online. Back off and check back later. Else, use another favorable exchange to buy your cryptos. (From experience based on being scammed).
Same goes with Remitano, and other 2p2 crypto exchanges all over the world.
Where to buy Bitcoin/Cryptos in Seychelles; Remitano or LocalBitcoins
I love Singapore not just because it is an Asian FinTech hub. Its crypto friendliness is evidence. How do I mean?
This is it. The investment laws there for new startups are favorable. And as a matter of fact, trading and investing with crypto “acts” with zero capital gains tax.
So, her citizens are encouraged to come into the crypto fold.
Just a tip in, we expect a more friendly Blockchain adoption in Singapore as the Asian Blockchain conference 2018 will be held there in November.
Should you want to buy the Blockchain conference ticket, see below.
Where to buy Bitcoin/Cryptos in Singapore: Coinmama
Slovenia, sure not as popular as the rest, yet, they are ready to compete for the title of “Europe’s Silicon Valley”.
With a legal status for Bitcoin already attained, today, Slovenia wants to take the crypto world by force.
See the vital reason. Slovenia has the strongest civil support of Bitcoin in the world.
Where to buy Bitcoin/Cryptos in Slovenia: Coinbase
27. SOUTH AFRICA
South Africa has managed to become a top Bitcoin friendly country in Africa.
Well, it is not bad because they are a serious player in the crypto world.
Just of recent, the first Bitcoin ATM in Africa was installed there to help cryptocians make withdrawals with ease.
And as a matter of fact, there is a town that uses its own Crypto as a legal tender. The place is called Orania. Pretty place huh. 😎
Fighting co-African countries like Nigeria, Ghana to be ranked first, they wouldn’t want to leave that spot.
To buy Bitcoin/Cryptos easily in South Africa, you can use Luno
28. SOUTH KOREA
So, finally, South Korea gave in (again) to cryptocurrency after blacklisting it some time ago.
But that didn’t just happen because the government liked it though.
Tens of thousands of Koreans were calling for the head of the Regulators before the crypto floodgate was open again. So, in earnest, we can put it that the Koreans forced their way to regain her Bitcoin friendly nation.
Where to buy Bitcoin/Cryptos in South Korea: Coinmama
From scaling as the second most friendly cashless country to creating of a national cryptocurrency, the “eKrona”.
Sweden plans to regulate Bitcoin as an asset and implement a capital.
Till then, the Scandinavian nation can enjoy the Blockchain evolution in the country.
In Sweden, you can easily Bitcoin/Cryptos at Coinbase or Coinmama.
Switzerland is a sweet spot for anything finance. I just don’t mean now, but since in the 90’s.
After escaping Major European fines because of not agreeing to reveal the investments data of her countries investors, Switzerland is a destined location for Blockchain investors, and at the same time, has no common legislation against Bitcoin, so every individual/county/city can fine tune his or her Bitcoin/Blockchain projects their way.
In Switzerland, you can easily buy Bitcoin/Cryptos at Coinmama
Taiwan will seek to position itself as an attractive destination for cryptocurrency businesses come November 2018.
The Central Bank of the Republic of Taiwan has recommended that Bitcoin (BTC) trading should be regulated under the Department of Justice’s anti-money laundering (AML) regulations.
With the adoption of the Blockchain tech on a low key, the Taiwanese Bitcoin regulations are expected fully by November 2018.
It is a good thing that the government has recognized the crypto operations, and so, while we wait for the full Blockchain regulations to avoid irregularities, the Taiwanese can trade like never before.
Where to buy Bitcoin/Cryptos in Taiwan; CoinmamaorVirWoX
32. UNITED KINGDOM
The United Kingdom is for sure a great Blockchain/Bitcoin friendly country. But that is not all.
Things are a little but going crazy there. Why? We are seeing a cryptocurrency dynasty with effects. More Crypto people need therapy to get their right health balance.
Just of recent, a UK (Scotland) hospital launched a rehab program for bitcoin addiction.
With things seemingly getting out of hand, the UK Treasury is planning tighter regulation of Bitcoin, hoping to prevent the likes of money laundering and terrorism.
That being said, while we wait for the strict regulation having been planned since 2017, for now, the UK remains a Blockchain region.
Where to buy Bitcoin/Cryptos in the United Kingdom: Coinmama or Coinbase
33. UNITED STATES
In the United States, while the Blockchain tech is great and embraced, the REAL BITCOIN full adoption has a question mark.
While the U.S is investigating whether Bitcoin prices had been manipulated, the caution call is one of the things the U.S crypto community are shining their eye to see vividly.
As of February 2018, the U.S had no coherent direction pertaining to the Bitcoin revolution.
And the big news?
The investigation was vital as one of the top Bitcoin millionaires was fined for manipulating or having an influence on the price of Bitcoin or so.
Don’t forget that SEC threatened MacAfee as well where he confessed that he might not be influencing (prompting) coins anymore for new projects.
With all that said, going a little bit away from the country, you will know that the country’s non-friendly aftermath regulations have blocked the U.S citizens to partake in some Blockchain projects and crypto exchanges.
Now, how do you explain the fact that an African country is allowed a make a direct credit card withdrawal on CEX exchange, but not the U.S residents?
Absurd or weird?
If it is absurd, I don’t think so, but if weird, I can say, yeah yeah.
Where to buy Bitcoin/Cryptos in the United Kingdom: Coinbase or VirWoX.
34. UNITED ARAB EMIRATES
United Arab Emirates has grown to be a recent ICO project hub for investors.
As more Blockchain startups register in the country, it is a new beginning for the citizens to trade crypto and get involved on other Blockchain projects.
In UAE, you can easily buy Bitcoin/Cryptos at Coinmama.
Welcome to Ukraine – the Wild East of cryptocurrencies.
Is it a fluke that Keywords like “Бiткойн” (Bitcoin) and „майнинг” (mining) have climbed to the top 5 of the on Ukraine’ Google search engine? I guess no.
Even though Ukraine’s legislature does not seem to be in a hurry to adopt new crypto legislation, but the executive power in Kiev has taken matters into its own hands.
At a meeting, the Minister of Economic Development Stepan Kubiev ordered several other departments and agencies to do what’s necessary to include cryptocurrency mining in the state classifier of economic activities.
Funny enough, the country has a Cyberpolice to foresee things. This is what the Cyberpolice had to say. They have called on government institutions to either legalize cryptocurrencies or ban them.
As a matter of fact, the country’s justice minister Pavel Petrenko has stated that cryptos, like Bitcoin, should be brought into the legal field.
Again, the State Financial Monitoring Service has already announced its official position on cryptocurrency matters.
So, what more can we say? Welcome to Crypto Ukraine!
Where to buy Bitcoin/Cryptos in Ukraine; Coinmama or LocalBitcoins
A CASE WITH THE UNITED STATES
I like the United States, but, I don’t know what to say. The question is, are they going forward or backward in the finances/business world. Now, this is not just a Blockchain issue, it spreads across other financial sectors.
As was considered on Cointelegraph, a United State analytics confirmed that the US has recently been overtaken by other countries in term of economics’ boom.
Well, I hope they will be back as they know how to go about it.
In conclusion, while there are no headed Bitcoin regulations, a startup like Walmart has benefited from the Blockchain tech. They deliver more products now with rapt operations.
See what her Vice president had to say “The Blockchain was able to shorten the time it took to track produce from six days to two seconds”
With the Americas Blockchain (Blockchain) conference that is coming up in August (20th & 21st) 2018, in Las Vegas, let’s hope that a new Blockchain regulation would be adopted.
To help out, if you want to attain the conference, you can buy the Ticket below.
Buy Americans Blockchain conference ticket (I’m not affiliated)
LAYING IT DOWN
While countries like Vietnam, Kenya, and the rest think that Bitcoin is not yet there, others are seizing stolen funds from illegalities, and the rest are making internally generated revenues from the Blockchain startups/projects in her countries – the Maltese story.
With Europe remaining the Blockchain hub, there is no doubt that they will soon become the center of blockchain industry, and one of those countries will notably be a giant in the Blockchain Tech. I tip Malta or Switzerland.
While we wait for other nations to adapt to the system that is working, I mean by publishing their laws about Bitcoin/Blockchain technology, the truth of the matter is that the Crypto market is young and will require a little time for various nations to truly get the whole concept and its purpose.
The curiosity effect?
This has seen a country like Netherlands set aside time to evaluate its (Blockchain) dynamics.
BIG INSIGHTS TO CRYPTO HODLERS
Even so, today, investors need to take special care to protect themselves from high risks. In terms of protection, if it’s all about guiding your cryptos, you want to use a hardware wallet of your choice (not free), or if you will be careful enough – use a paper wallet (somewhat cheaper); but I detest it.
However, in general, the crypto industry is growing, and with services and tools for market regulations and protection from fraud, it will even grow stronger.
With all those said, all we need now is keep our fingers crossed as the development spread across nations with countries as Colombia, Uganda (with Binance), Ireland and more coming up.
But for now, this is the era of Cryptocurrency and Blockchain.
6917 words in one Blockchain Analytics,
Great, you have the Bitcoin/Blockchain technology friendly countries, the question now is, which upcoming country do you foresee adopting not just Bitcoin but the Blockchain technology in general?
Also, was your country among, if not, what do you think is lacking?
(Let me know your thoughts. Don’t worry, comments are 100% spam free!)
Did this article make sense to you? Share & Cheers.
Note: This article is based on the current data and analytics out here.
So, should you want more Relevance in Crypto Data & Blockchain Analytics? Once or Twice a week, I will send you Total Relevant Crypto Research Notes & Blockchain Data – Get the Analytics for free.
Cryptocomes.com: 10 Bitcoin-Friendly Countries That Legalized Cryptocurrency.
More Info: Meet us
Ref Codes: Finder.com, Cryptocomes.com, Reddit.com, CoinTelegraph.com, news.bitcoin.com, fintechnews.hk.