Bitcoin Forum

I heard that in Zimbabwe people use other currencies and cryptocurrencies to trade as their current monetary system has failed them. Do other countries also accept cryptocurrency as their main currency apart from Zimbabwe?

By "country", if you mean the sovereign government of a country then the first thing you should appreciate is that cryptos don't use Govt sanction. Sure, they can make things difficult for the common people by branding them "illegal" but being peer-to-peer, it only matters whether you and i value it enough to use it to trade for a good or service.

As far as legality is concerned several countries accept them as legal or have defined them as commodities etc. This includes USA, Japan, Korea, Malta, Venezuela, Russia and several EU and East European countries. The Venezuelan Govt. even tried raising its own cryptocurrency called Petro Coin. China has announced its intention to actively work on Govt backed crypto and blockchain finance. Yet, these "Govt." intiatives are generally looked at with skepticism due to their centralized nature.

That makes things look much better for the truly decentralized, people's crytpo, Bitcoin.

There are many countries which use Bitcoin as their primary currency like Venezuela and Iran. Those countries who are economically less strong or are facing sanctions from the US and their own currencies is becoming worthless, they are converting their money into bitcoins.
If you are talking about which country has legalized bitcoin, then Japan is one of the pioneers.

There are also some countries like United States, Canada, Russia and Australia who are using cryptocurrency as their main currenct or monetary currency, in which they are using it as an actual method of payment in their everyday lives so that it is very awesome because aside from their own local currency, they are also using cryptocurrency or digital currency. I guess there are so many countries that are accepting and using cryptocurrency as their main method of payment just like for example some online stores in which they are required their customers to buy and the payment will be through bitcoins or other coins.

With what you mean "main currency" I don't think there is a country who will gonna replace their own currency. But with regards to the alternative currency, there is a high chance cryptocurrency will be used in different countries.

Anyway, here's the list of the countries where you can see if bitcoin is legal or not and if it categorized as currency or commodity.

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https://cryptoguruji.com/bitcoin-legality-country-wise/

If the question is not about countries where Bitcoin is legal in some sense, but about those where it is legal tender (money, not assets, property, securities etc.), then the list of countries might not be that big. In fact, if we talk about Bitcoin, I only know that Japan recognizes it this way. If you trust Wikipedia, the EU also recognizes Bitcoin as a currency rather than a commodity since 2015, but it could change, since this is based on the Court of Justice decision, not legislation.
And if you are talking also about national currencies, then Venezuela was already mentioned, and multiple countries seem to intend to make such national cryptocurrencies, so there might be more in the future.

Yeah. Right.

I'll believe that when I see any evidence of it. Until then it's a bunch of balls cooked up by tossers on r/bitcoin. There's a slight difference between an entire nation and a few hundred people.

Same goes for these surveys that say 20% of Turks own Bitcoin. What the actual fuck? If you tried to pay 20% of Turks in BTC for their services 19.91% of them would donkey punch you.

We have a blockchain thing as the perfect indicator of usage. No blocks are full. Even the Vatican's usage would fill it if they were using it as a currency, let alone a viable population.

I think, there is no country that really uses Cryptocurrency as their main currency, they only become Cryptocurrency as an alternative currency or only as an online payment instrument not as a major currency. But we have seen Japan which has legalized Cryptocurrency and maybe in the future will use Cryptocurrency as their currency.

Long back when Zimbabwean currency experienced inflation people started to move to bitcoin for all form of business transactions. By then there were more suggestions from financial experts to adopt the bitcoin as the primary asset for usage. Zimbabwe didn't reacted and over few months of time it opposed cryptocurrency usage.

If Zimbabwe have adopted now it should have got recovered out of the inflation experienced. Recently Venezuela took initiative, but the implementation isn't that effective.

Japan , korea, the US are also taking is as a method of payment (http://okex.com).

I also think the same way but when it comes on buying products and services then my country is open for it because there are some stores and company here that accepts bitcoin as a payment which is less hassle and more convenient, it is not our main currency but the adoption is great because as far as I know there is a hospital in my country that also accept bitcoin. It is good to know that Japan was able to realized the capabilities and potentialities of cryptocurrency, it can be one of the reason why they have finally legalized it. Well we can't tell the things that may happen in the future but if it finally happens the it is good because the adoption is getting big and it can influence the decision the government of other countries.

Yes! I have already see this news many times before until now, a lot of country are using it now, especially now here in Asia, a lot of resto and different merchants already accepts it, me ,myself tried it in one of the milktea shop I pay a local coin for my purchase and its done, I got my milktea using my coin.

My country is strict with regulations so it's not in my country, maybe in a country that is bankrupt and has a low currency value, but in some developed countries like Japan already using it as a payment instrument there, but I feel that bitcoin with a high value is rather unfavorable used as a micro payment tool

There are tons of countries that has some active ecosystem for cryptos going on already, and I think it is not something new as it has been like this for years after people realized that cryptos are actually not just a way to store money but to also be used as a currency to which they can buy goods and other stuff in the market. It's just not as evident as you may want it to see, say, a huge portion of the population being engaged in cryptocurrency trading and/or using it as an actual currency to buy goods.

It's already happening, just that it's not that pretty evident or widespread yet.

Not as main currency in my country, but slowly we were able to do many useful transactions using crypto like paying bills,donating, buying in online shops,  and some store provides their own btc address or qr to scan when we personally buy some items. Many are already using it as method of payment as technology and adoption advances, but only those who theie main fiat didn't work or already experiencing economic problem affecting their currencies will be able to set it as their main method of payment.

Main Currency? i think the main currency of Zimbabwe is not crypto it they just used it because of their problem now.

And in other countries no one is accepting crypto as the main currency and I think this is difficult to achieve because the government does not control crypto currencies. Therefore, this may only result from the confusion of people, especially those who live in the mountains and those who are not yet technologically aware.

Yes, several countries in the African continent such as Nigeria, Ghana, etc. have used cryptocurrencies for the country's business purposes to encourage cross-border trade and payments. No doubt other countries in Asia are ripe to legalized cryptocurrency especially Bitcoin. Just say Japan, from a source that I read the Japanese government has legalized Bitcoin because of the many retailers/outlets that accept payments with bitcoin.

I think there's no such country will use Cryptocurrency as their main currency probably they will use it as an alternative but they won't use crypto as main currency because of stability issue. Zimbabwe use their own Zimbabwean dollar after of hyperinflation controversy that same thing happened on Venenzuela. There are some countries have officially used Cryptocurrencies upon their mode of payment like Japan but I haven't heard any new of using crypto as main currency.

I am also in the Asia region so I expect countries in the Asian part to immediately legalize bitcoin for payments that are getting easier, Japan has become the first center in payment methods using bitcoin, and he said in Indonesia will also be discussed soon. could it be?

I don't think that there are any countries where the government has implemented bitcoin or crypto as a main payment method at least not yet, but the bitcoin is really popular not just among the places where the fiat is failing but in countries like in the north eastern Europe and Canada, you can find many local stores and people dealing with bitcoin but in places owned by the government it is not available , but iam sure that in the next few years will see some that fully implement it into the system.

Nope there is no country that adopts BTC, even Japan where merchants at every corner doesn't adopt BTC as a government. Its just that some businesses accepts BTC, people in Venezuela and Brazil are somewhat using bitcoin to make transactions to some stores but that is just it. You can't expect a country to rely on currencies they don't control, its like disrespecting their own.

as of now, there is no country that totally accepts bitcoin and uses it as their main currency
but bitcoin can be used all over the world if you only know the right person or the right merchant that accept bitcoin

Don't expect othee countries to use cryptocurrency as their main currency because all countries have their own currency. Zimbabwe is facing a financial crisis which lead for their citizens to find another ways financially... As long as a country is still doing well and their currency is doing well, don't expect bitcoin to be their main. There are still no enough businesses accepting crypto so it will be hard for it to be a main currency.

I don't know where you got the news from about Zimbabwe using cryptocurrency and other currencies to trade but if I'm correct a year ago they banned crypto currency which also among what led to the died of golix an crypto exchange reside in Zimbabwe.

There are a lot of countries (EU, Korea, US, CA, Malta etc) where cryptocurrency are legal and use as currency.

I don't know about Iran, but Venezuela definitively does NOT use Bitcoin as "primary currency". Very few people here know about Bitcoin, and some use it to escape hyperinflation, but it is very rarely accepted directly as a means of payment. You would have to be very lucky the merchant knows Bitcoin and is already knowledgeable enough to accept it instead of USD.

I don't know where you keep getting this impression, but i can tell you it is not true at all.

At the same time the government has been trying to promote the use of their centralized Dash fork, with very little success...

Zimbabwe, as far as i know, also went to the USD when their previous coin collapsed. As much as we want worldwide adoption, you have to look at the facts first.

You can check these sort of informations at Cointelegraph as for instance:
https://cointelegraph.com/news/crypto-vs-cash-which-countries-expect-to-go-digital-soon

Since more countries are willing to accept cryptocurrencies as another payment method i am positive about the upcoming generalization in becoming 1 currency for every country.
It is a matter of time till all government groups realize how important is to have a unique currency. Except for the fact that each single economy dependency as their unique financial system which could be a bigger delaying problem for this to happen.

In reality there could still be a solution if everyone will be willing to think on the same principle.

Its legal in my country but very few are using it as a currency itself and we can’t still buy food at the market using cryptocurrency so i think we are still far from this but its pretty good if you can hav cryptos legally. Actual method of payment will soon be happening in my place, a lot of Chinese here and they are paying most of the time thru their online wallet so maybe cryptocurrency will add to that option.

En México si es posible pagar con Criptomonedas de las cuales se encuentran distribuidas través de toda la república mexicana entre las que destacan las siguientes:

Villas Geminis Boutique Condo Hotel
TUMBIKO
Scubatony
Pop You Cozumel
Bitcoin Embassy Bar
San Juan Teotihuacán
Cucudrulus Café
LEMUSOFT
Fantastico Comics store
Comic Castle
Taj Mahal
Hot Dog Ramirez Zamora
Casi Esquina
Los Acorazados del Golden Braun
Cine Tonalá
Stars And Legends
Mobla- Muebles e interiorismo
El Diablo Y La Sandia Boca Del Monte
Fonda Dama Fina
VIAJES 360
Pixza
Pixza
Que Sería De Mí
Ven Host
Sr. Conejo
Verde Vegan
The Coffe York
Sumo Transportes
Neubox
St Rémy du Lac
Rush Barra De Café
Plomybaños de la Paz S.A. de C.V.
Moralito's Restaurant
La Tortuga Restaurant Bar
La Charanda RESTAURANT rock house
KOi Sushi Shop
India Gate
Hotel del Refugio
Hostal Casa Taxco
Studio 664
Kabeer Kebabs
Demente café
DESS México
Café Punta Del Cielo
100% Natural
Petrona
Fantastico Guadalajara
Azavia - Tienda Orgánica y Gourmet
Xoles - Estrategia Digital
El Cowork
Fantastico Comics store
Bitlem
Fantástico
Comicastle
Comic Castle
Pasteleria Nelly
Fantastico Guadalajara
San Miguel Galleries Plaza
Galerías Hipódromo
El Remedio - Botiquín Creativo
MrChurro1
Koox Diving
MiniBurgers Boca
Benjamino's Pizzas, Pizzas a la Leña
DESARROLLO EMPRESARIAL BCS
NayeeriTech
Estacionamiento Gube
Ding Dong Donuts
Brew Lab Café
Fish, Taco & Beer Atlixco
Yoga
Dive Adventures Tulum
Andra sa de cv
Benito's pizza
Hotel La Casona
La Barbona Barber Room
Zona gastro
La Salvación
Talcual
CARNICERIA El nuevo hallazgo
Digital City Covers & Gadgets
Videojuegos M@NSA TEAM
Nixcome
Pixio
Ro Boutique
Joy Smile Consultorio Dental
Albatros Paracaidismo
Joyeria Catedral
Classic Barber Shop
Scientific Laboratories
Yucatán Prosalud
Melitam Tecno
Sinbad Travel
AUDETTE
International Dental Center
Las palmas vivero
Suit Software Lab
Carmen Es Revista Digital
Galerías Atizapán
417 Studio Digital
MATRU - Licor de cacao
Restaurante Bariloche
SNOVA 3D
PALETERIA Y NEVERIA Kary
Vidrios San Antonio

También Zona Gastro, un colectivo de foodtrucks, el cual se encuentra en el centro de Tijuana, Baja California, muy cerca de la frontera con Estados Unidos, en el cual las personas que asisten al local, pueden pagar con criptomonedas, y en caso de que los visitantes sean de nacionalidad norteamericana, no necesitan cambiar sus dólares por pesos para realizar compras, debido a que los comerciantes no se ven afectados por el tipo de cambio.

Otro ejemplo se encuentra en la Ciudad de México, más concretamente en el espacio multicultural del Cine Tonalá, donde es posible realizar pagos con la criptodivisa bitcoin por medio de Bitso Transfer, siendo una opción novedosa con gran variedad de oferta en entretenimiento.

In some unstable countries like Zimbabwe and Argentina, a lot of the countries there have turned to other options like crypto-currencies in order to support them and hold their savings in crypto.

It's difficult for those people though, especially since their currency is so volatile and almost worthless, and the governments don't support their crypto-currency options, and instead keep attempting to revive their own currency instead of letting crypto save their people for a bit.

Many country not accepted bitcoin as legal payment because not regulation of using bitcoin and can't prediction with bitcoin price, many country looking how to keep safety their people if using bitcoin with price suddenly down and how to increase their people assets, many manipulated price of bitcoin many countries want to delay for using bitcoin as legal currency digital payment.

There are many solutions coming up to fix this problem! Start-up projects with the goal of multinational payment, anytime, anywhere appear in the market. However, the legal issues have not been resolved. Many countries do not accept cryptocurrencies.

I dont heard yet as primary, but as secondary there are many countries that practice and accept cryptocurrency like japan. If you dont know china is developing their own currency, they plan to tokenize their national currency this is a huge move I hope the result is good.

The government will continue trying to have their own currency even they accept crypto there's still chance that they will keep trying to revive since own
currency express the stability and strength of one nations. Most of the countries will keep their own fiat and be civil with crypto existence.

Like you have said Argentina and Zimbabwe got unstable economy that's why they embrace crypto to exist.

I think in Zimbabwe, using bitcoin as their temporary alternative currency when their country is experiencing an economic crisis with fiat finance, well maybe at this time in other countries their government has not yet formalized cryptocurrency or bitcoin to be used as their main payment method because the government thinks it will threatening their finances so that currently not many governments recognize that bitcoin is a good payment method.

Considering the current trend in the crypto space, Japan and South Korea are currently the countries I think actually accept and regard cryptocurrencies as an actual method of payment. These countries have projects supporting the use of cryptocurrencies as an alternative method of payment which in some way be considered as promoting the use of cryptos as an actual method of payment.

yes I think there are currently many countries that accept cryptocurrency as a means of payment. such as Japan, the United States, Australia, South Korea, Finland, Britain and others. the more age of bitcoin, the more countries and companies that accept bitcoin. most people use bitcoin as an investment tool but bitcoin can also be an alternative means of payment. and maybe someday if all countries can receive bicoin. bitcoin will become a global currency.

So far I know some countries where cryptocurrency is running legally but within a very small scale, I believe that Cryptocurrency will be more flourish within very soon because already some countries are creating own cryptocurrency for their own country's people, So this platform is getting popular and accepted in some sense, not only that but also Big names like China, Australia, Japan, and some other Big fishes will try to compete with this platform so there will be a healthy competition in the coming days, in this perspective, Bitcoin and cryptocurrency along with blockchain system is more or less safe because people are becoming fond of this system so far.

Its too far to use it as primary currency .mostly crypto currency such as bitcoin. can only be use as payment method and use that to pay online pay your  online shopping , bills and many other option. bitcoin use only just alternative to other online payment .

in my country cryptocurrency has been accepted, but not as a currency used in real life transactions. only as trading commodities, such as stocks and other commodities. well in Zimbabwe they turn to crypto, because they don't want to lose their assets. if they retain their assets based on the state of the country's economy. then everything will be destroyed. so the best option is to choose crypto. the difference in my country is, someone will be penalized if doing daily transactions using crypto. but for trade commodities, that doesn't matter.

County-wise? Nah.

But you surely can find individuals from every country, who accept Bitcoins as a payment.

It was few years ago when a person I know traded cow fertilizer for a share of bean harvest. So yes, it is completely possible.

There are many countries using bitcoin as a legal means of payment that are European countries, Japan, Korea, the US ... In these countries they can use bitcoin to buy any of these. What does the store accept. Most countries that accept bitcoin as a currency for payment are developed countries, but in the case of Zimbabwe, few are developing countries. I think this is a progress. If bitcoin does not actually affect Zimbabwe's economy, other countries that are banning bitcoin will gradually accept bitcoin.

Ukraine recently made crypto a legal payment method :)

Well, if using crypto currency in Zimbabwe couldn't work, I believe it is not because it cannot work at all but probably there are still somethings that are yet  to be put in place. Of which I think the bitcoin ATM  and hard currency. If this is not approved. It's general acceptability may be quit difficult.

Lol, I love your skepticism.

I was browsing Youtube a few weeks ago, and I saw some videos about Dash being used in Venezuela and there was even a coffee shop with a big Dash logo on it.  I'm skeptical as well, but they made a moderately convincing argument that Dash is actually being used in Venezuela and is growing in popularity.  But what the hell, who knows what the actual numbers are--it could well be just a few hundred people for all I know, but it didn't sound that way.

The thing is, countries that are in trouble tend to adopt another stable fiat currency when their own fails, and a lot of times it's the US dollar.  There are quite a few countries in S. America where those stupid golden dollar coins are very popular.  If you come across one in the US that's really worn, it's probably seen action in Ecuador or one of its neighboring countries.

No country has made Cryptocurrencies a legal tender but however there are a lot of countries which are day by day becoming Crypto friendly. They are allowing transactions involving Cryptocurrencies in their jurisdiction however in a controlled manner. But there are a few tax heavens who aren't even charging any tax on Cryptocurrencies Income in private key like the Island country of Malta which I think wants the world economic center to shift in their country.

If this is the case, I think it is a good development. However, this news should not be too big. Because these countries are not developed countries. One day, if the peoples of Europe or America start shopping with bitcoin, the revolution will take place. Of course they already do. However, a small community is trading with bitcoin.

There are already several countries that have accepted cryptocurrency as a means of payment such as Japan, the United States, Switzerland, Canada, Russia, Venezuela, Argentina and others. these countries have legalized cryptocurrency as a means of payment but not as a major currency. I think their main currency is still fiat money. cryptocurrrency is only an alternative means of payment. they will not make cryptocurrency a major currency. because they already have a national currency.