Bitcoin Friendly Countries

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3 years ago

Bitcoin is a never-ending discussion discussed by crypto mania. Where the characteristics of the transaction that does not recognize the boundaries of the country's territory is one reason that makes bitcoin more popular. Indeed, most of the world community is still quite ordinary in the existence of bitcoin, there are also countries that have so far been familiar with the various types of bitcoin transactions. Want to know which countries? Here it is five countries that are known to be friendly to bitcoin.

1. Japan

In history alone, Japan is recorded as the 'birthplace' of bitcoin and its blockchain technology. Not surprisingly, this country has very strong ties to the world of crypto assets. So far, Japan has become the first country to adopt, legalize and integrate bitcoin in its economic system.

The first largest cryptocurrency exchange, Mt. Gox, its inception in Japan, and now no less than 32 exchanges that officially operate in Japan. In the Asian Region, there may be China where people are also very open to bitcoin and the use of blockchain technology.

The difference, the Chinese government strictly prohibits the use of bitcoin as a means of payment in order to protect the country's currency. While in Japan, the government is one of the drivers of bitcoin penetration in the community.

2. United States

When you look at the three countries before, maybe there is a view that bitcoin is only accepted by small countries. NO! The United States (US) is also known to be quite welcome and positive attitude towards the use of bitcoin in its region in recent years. Large companies there also do not hesitate to accept bitcoin as a means of payment.

For the US government, bitcoin is not interpreted as a currency but rather as a money service business (MSB). Therefore, bitcoin in the US has even been traded on the derivatives market, a concrete proof that the existence of bitcoin has been fully accepted by the people there.

3. Switzerland

As a developed country, the Swiss government is quite open-minded about the existence of bitcoin. The Swiss economy which is the highest in Europe in terms of productivity and competitiveness makes its citizens also quite adopted for various transactions using bitcoin.

Unmitigated, transportation within the city there has also received payment using bitcoin. So don't be surprised if a lot of crypto businesses are popping up and growing rapidly in Switzerland.

One of the cities, Zug, is even considered by cryptocurrency activists to be a 'crypto valley' because it is the center of crypto industry development like Silicon Valley in the world of technology.

4. Singapore

In the Southeast Asian Region, Singapore is a bitcoin paradise, although its trading activities there are also subject to quite high taxes. Why is the tax so high? Because the Singaporean government understands very well that the existence of bitcoin has a number of advantages that if left unchecked without any barrier at all, the country's conventional currency might not be desirable anymore.

So that the circulation of bitcoin also contributes significantly to the country, the imposition of high taxes is considered as a middle ground.

And it is proven, bitcoin users still continue to trade, which means they do not mind such a high tax barrier. All parties are happy. Win-win solution, right!

5. Malta

It may be that not all Indonesian people know this country in Southern Europe. But make no mistake, the government's ability to understand the crypto industry properly and precisely makes Malta to date one of the references for countries that want to organize regulations on bitcoin more fairly and comprehensively.

One of the world's largest cryptocurrency exchanges, Binance, has even opened its headquarters in Malta since March 2018. No wonder so many later dubbed this country as The Blockchain Island.

Maybe that's just the five countries that are so friendly with Bitcoin and if added certainly there are many more. But maybe these five countries are countries that are not strange anymore with the transaction or use of Bitcoin.

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This is a nice article abiut bitcoin cash and its frindly country. Japa is the most frinedy country for every crypto

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3 years ago

It is said that 51% mining power of btc is currently located in china. You can add China too because recently china started easing on crypto currency.

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3 years ago