Bitcoin Forum

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

What specific country are you in? There are numerous stores that accept bitcoin in exchange for products and services globally just like this one^[1]. If what you mean bitcoin being a legal tender, then we have El Salvador for that.^[2]

[1] https://bitcointalk.org/index.php?topic=5367983.0
[2] https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200

Not sure what is your question here but In my country(Serbia), crypto is partially regulated, you can do whatever you want legally.
the only thing you have to pay is a tax on the profit made in crypto trading.
officially, the government does not accept crypto as a means of payment, (thank goodness for that) but the same thing is with other fiat currencies it is also necessary to do currency conversion from USD to national currency

One reason could be they're afraid of accepting/adopting because they think that it could be a harm to their government banking system.  But in fact, it is not.  Because each government has its own perspective view on Bitcoin, those government officials who are open-minded and willing to adopt crypto, better regulate it than if they don't have benefits from it because people can still use crypto even though it's banned in their country.

It's given above, country of El Salvador was the first country that legalized Bitcoin.
But this depends on your country, like my country it's not fully legally accepted but partially regulated.

Note that banning and unregulated are different things. You should review the applicable laws in the country you want to know about. My country allows certain cryptocurrencies as commodity assets and prohibits them as means of payment.  So far only 2 countries have made bitcoin a legal tender(Elsalvador and Central Africa), the rest are prohibited and unregulated. But the majority of countries in the world allow cryptocurrencies to be traded on exchanges.

Countries are scared to adopt bitcoin as a legal tender in their nations because, they fear it would degrade their fiat currency.

Nonetheless, I've got my eyes on El-savador that has adopted bitcoin as a legal tender, let's see if their national fiat would depreciate. If it doesn't,  then you'll see that other nations would take this toll, and that would be a win for the bitcoin lovers/family.

There are many of them OP. You just need to put time in searching for what are those countries like going to wikipedia as the start.

https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

It's okay if they don't want to adopt bitcoin as a legal tender, there's no pressure from high entities that they should do what El Salvador has done.

Accepting crypto as payment and not banning it is already more than enough.

As some members have already mentioned, El Salvador is one of the Countries where Bitcoin is a legal tender. I think Some African country also tried to follow the trend (Central African Republic) if I recall well

Most governments obviously don't want their citizens to adopt cryptocurrencies because they (the governments) will have no control over the crypto (In terms of printing more coins which Governments love doing in order to fuck up the economies)

As others have mentioned already, there are countries that already accepted crypto as legal tender like El Salvador.

And then there are nations that have regulated it like countries in Asia and Europe that you can used crypto to buy and trade because they have their own local exchange.

I suggest you look for El Salvador crypto adoption and making bitcoin a legal tender, that should be good read for you and maybe you will understand more what others are saying.

Wrong, every part of the continent now is accepting crypto, maybe not the direct p2p as how it is envisioned by the creator Satoshi, but still there are third party services everywhere that you can convert your crypto and then you can purchase online or even offline stores.

In Europe LN has been tested for the last couple of years, specially if you are just going to buy coffee and things that the amount can be accommodated by LN (Lightning Network).

Many countries even African countries have adopted the use of cryptocurrency notably central African Republic and Nigeria, although there are limitations/regulations. Some are imposed with high taxes such as India and some European Countries. Gradually there will be more adoption

The technology is still in its early days, and adoption by countries does not take long if it happens in one of the countries. As soon as these countries find it easy to conduct transactions in Bitcoin and there is sufficient political and economic motivation, they will find rapid adoption.

Did you searched on Google before posting this topic ? I think you have opened this topic without knowing anything. If you kindly search  on Google, you will see that many countries have already legalized it and also trading through it in  inside their country. On the other hand, you should know that some countries have already started to accept it as legal tender, and it is expected that this level will increase very soon.

Obviously, because he is a newbie but that is not an excuse of course. Google is free and I think even kids now know how to use that wonderful piece of tool for researching things. He can also make a search inside the forum. As long as it's related to crypto, I am sure that he can always found what he is looking for since this crypto forum is huge enough and it started long time ago.

Indeed that lots of countries already legalize btc for trading or as an asset use while for purchasing or as a currency I think there is only two or three of them so far. The two of them were namely El Salvador and the second one is central African republic.

I think you are mistaken one thing for another.  Countries that have fully legalized bitcoin according to Google search are just 2 (i.e El Salvador and Central Africa).
It doesn't take the fact that sone other countries don't accept the use of it, even though they have not legalized it, some certain businesses do accept it without any issues.
It is better to understand the difference.

-    It seems you are wrong in thinking friend because as far as I know there are countries that freely accept Cryptocurrency in their territory. Just like the country I belong to, there are many companies related to cryptocurrency that can operate here legally. Such as Coins.ph, Bitpinas, and other wallet apps that can be downloaded on mobile devices such as Maya, the gcash coming soon, and others that are currently completing the requirements that must be submitted to the BSP (Banko Sentral ng Pilipinas).

Europe, Japan, and Singapore are just some of the countries I know that are open to cryptocurrency and some merchants enjoy Bitcoin or other cryptocurrencies as a mode of payment in their businesses as well.

Many countries are concerned about cryptocurrency price volatility. In addition, many regulators in various countries do not believe in the decentralized cryptocurrency system and are considered a threat to the current monetary system. On the other hand, countries that prohibit cryptocurrencies also usually use the argument that crypto assets are used for illegal acts such as buying and selling drugs and money laundering. Some countries clearly prohibit cryptocurrencies, while others have implemented policies that prevent crypto assets from getting support from the banking and financial systems to be traded and used in those countries.

Here's one of the countries that ban cryptocurrencies:

China: Chinese regulators blatantly prohibit the trading of cryptocurrencies, one of which is bitcoin. Any banks and other financial institutions such as payment service providers are prohibited from engaging in any activity related to cryptocurrencies. In addition, cryptocurrency trading is also prohibited in China. The Chinese government has also in the past year been busy implementing a ban on bitcoin mining activities in its country.

You may not know which countries around the world use crypto currencies.  But you can see details about EL Salvador. Where cryptocurrency has been officially adopted and various products and transactions have been launched by crypto currency.
https://bitcointalk.org/index.php?topic=5342087.0 (https://bitcointalk.org/index.php?topic=5342087.0)

But as far as I know, the first Bitcoin was officially recognized by the government of El Salvador. But many countries around the world have already started Bitcoin trading and they do full transactions with Bitcoin just for the convenience of using Bitcoin.

As far as I know El Salvador is an officially crypto accepting country. Countries that have declared Bitcoin as an alternative currency alongside their own currency. Bitcoin has been linked to education, business and other government sectors. And recently I got to know some more information about that country that the country is facilitating bitcoin transactions as an alternative means of payment in various filling stations and coffee houses of that country. Such decision of El Salvador is really very positive. And the president of that country is highly praised by the people because of his decision.

There are a few governments that have legalized the use of crypto currency in their country and the most popular of them all as it stands is El Salvador and this acceptance is driven with the expectation that bitcoin could help improve their economy and sustain it to cover certain debts. And there's a prospect that in the next ten years to come more countries would be able to accept the use of bitcoin along side their local currency alternatively,

Many countries that are currently not giving room to bitcoin to operate is as a result of the decentralization of the coin, every government wants a currency they can regulate  and be in charge over it's usage and for that they fear risking that economic power.

I thought they might have already started accepting Bitcoin around the country since they announced it as a legal tender a few years back. It's a very small country with a total popularity of only about 6.5 million while the population of some famous cities like New York is higher than this. So they should have already done things like that.

I wonder how many people within the country actually use Bitcoin now when it is totally legal to have and spend anywhere its accepted without you getting in trouble at all. It must feel very good to have that freedom.

El Salvador is undoubtedly one of the first countries in the world to announce the use of Bitcoin as their national currency. 
El Salvador is a Central American country. Before declaring Bitcoin as their country's currency, their country's official currency was the US dollar, but now Bitcoin has been declared as their country's currency along with the US dollar. 

The population of this country in America is about 6.314 million. And according to the World Bank the education rate of this country is above 90%. Considering education, economic development and other aspects, Bitcoin may be adopted as the digital currency of their country. El Salvador has taken all these steps to make tourists especially interested in visiting their country

I suppose OP missed this at the time.

The reason for rejection by most nations is that, bitcoin is decentralized ad the government operates a centralized system where they get to control everything.
Also, bitcoin is seen as a competitor to there product which is the fiat currency. At this stance, its hard to see reasons why they should let the cpim flourish.
Bitcoin cannot be appropriately taxed and lacks regulation. This is unacceptable for the government who seeks to control all that happens within  it territory.

Fortunately for crypto enthusiast, the project doesn't require any approval to grow. It would progress in phases until it becomes a norm.

The literacy rate of El Salvador is above 90%? That is amazing, and I didn't know that. Considering most of their population is educated, or at least can read and write, a technology like blockchain should properly prosper within the country and people should be able to use it pretty well, if they are good with technology, they can even go ahead and create their own projects and stuff.

It is a small country and they can easily use Bitcoin for almost anything if they want, as long as merchants are okay with accepting Bitcoin as payment, the spenders wouldn't have any problems in my opinion. I would definitely love to have a tour of a country where Bitcoin is used like a normal currency.

There is no reason, governments anywhere and any country, they don't want to take risks crypto assets can go down anytime and anywhere, countries don't harm their people in taking crypto as a basic goal, so don't hope.

No country wants to do that, except: adoption as some European countries do, if it is made as the country's legal currency, there is no first and no last.

This will take some time my guy, as we are still in an early stages of Bitcoin adoption in many countries around the world. It is not easy to integrate a digital currency into an entire country's financial system and make the necessary legal changes to support it.

Most likely some EU countries or maybe some other third-world countries are in the process of adopting Bitcoin. So far, I've heard that El Salvador has already adopted Bitcoin this year, and I've also heard some news about Liechtenstein being in the process of adopting it.

Well, crypto is like that cool kid at school that everyone's curious about but hesitant to befriend. Countries are taking their time to understand the risks and benefits before taking the plunge.

The hesitation around crypto acceptance by countries is understandable. Governments are navigating the complexities of regulation, security, and potential economic impact.

Hey, great question! The lack of official acceptance of crypto by countries can be attributed to a few factors. First, there's the volatility and speculative nature of cryptocurrencies, which can make governments wary. Second, regulatory frameworks need to be established to ensure investor protection and prevent illicit activities. Lastly, there's the challenge of integrating crypto into existing financial systems. However, several countries are exploring the idea. For instance, El Salvador recently became the first to adopt Bitcoin as legal tender. It's an exciting step forward, and we might see more countries follow suit in the coming years. Who do you think will be next to embrace crypto?

El Salvador was the first country to adopt Bitcoin. The government of this Central American country, Nayeb Bukele, has created wonder around the world by accepting the first Bitcoin in his country. He has become very popular in the world for such a bold step. But to date no one has taken such a bold step as the government of El Salvador. Nayib Bukele is slowly introducing Bitcoin transactions to everything in his country. Banks are going to implement Bitcoin in ditches, Bitcoin  filling stations, and also introducing Bitcoin transport buses for everything from transactions to road travel. Thus, if El Salvador accepts Bitcoin, then El Salvador will be at the top of the world.

The economic condition of El Salvador is not like that of other developed countries but still the President of El Salvador Nayeb Bukele has taken such a bold step. This challenge was not so easy for him as the President had to take such a risky decision amid many adversities. After taking such a risky decision, he has received a lot of praise worldwide. And he is increasing the prevalence of Bitcoin in his country. According to your information, bitcoins are arranged for transactions at various places including gas station filling stations. And he has taken more new steps, hope he can succeed in all his steps.

I know of two countries that have fully adopted bitcoin and all the stores accept the coin to market their goods. El Salvador and Central African Republic are the two countries I know that accepted bitcoin in their countries. And I was wondering why you have not heard of these two countries. El Salvador adopt bitcoin in the year 2021 while Central African Republic was last year 2022. And you created this thread. Since  September 06, 2022, 07:45:15 AM.

Wait a minute, are you saying that every single store in these two countries only accepts Bitcoin? That seems highly unlikely. I think there might be some confusion or exaggeration going on here.

I guess this user didn't pass his message correctly, Bitcoin was made a legal tender in those countries he has mentioned which means stores are free to accept Bitcoin as payment for their goods or services but I doubt all stores have started accepting Bitcoin especially in Central African Republic that's in African. Central African Republic is one of the least developed countries in the continent and the used of internet and mobile phone isn't as common as we have in other well exposed African countries like South Africa.

Most locals in Central African Republic mightn't know how to operate Bitcoin wallets so their local cash will still be widely used. As exposed as Nigeria is yet the citizens refused to use the government issued digital currency (eNaira) but continue using their cash and I believe Central African Republic won't be any different although both currency aren't the same thing but I'm just using it to give an example. Salvador also had reports of low turn out of their citizens to accepting Bitcoin but I haven't heard recent reports of how things are going on in the country.

Over 90% of people in El Salvador are educated and the government of El Salvador wants to exploit this opportunity.  The more educated people are, the easier it will be to bring digital technology to them. To that end, they have taken various Bitcoin-centric initiatives in their countries. And they are very successful in implementing the steps they are taking. 
Currently, the services running through Bitcoin in their country are, the facility of payment system through Bitcoin in various restaurants or coffee shops, payment system through Bitcoin in filling stations, and in several other cases they are connecting Bitcoin as a means of transaction. If they can do all their steps correctly, El Salvador will be a very strong country financially.

El Salvador is currently one of the most popular countries in the world. This country is currently the most economically advanced due to the introduction of various operations by Bitcoin. and all the steps taken by President Nayib Bukele to move this country forward have been successful. In EL Salvador where gangs were constantly forming and doing various misdeeds, the President arrested and jailed them due to which the country is now calm. El Salvador has created Bitcoin City, which has become very popular with the world and tourists, and has opened up various activities including transactions with Bitcoin. The government of El Salvador has now taken many more big steps, if they succeed in these steps they will go further economically.

"Forward" in what terms? Why not just talk statistics? The latest data shows that Elsalvador has experienced a decline in GDP growth^[1].
Being popular doesn't mean succeeding in being good, bitcoin doesn't provide an overall economic solution, let alone in a broader domain such as a country.

1. https://tradingeconomics.com/country-list/gdp-annual-growth-rate?continent=world#:~:text=%25-,El%20Salvador,-1.2

We've got El-Salvador now to have  been in the front line of bitcoin adoption. While other nations remains indecisive or continues use El-Salvador for a lab rat, bitcoin adoption is gradually getting its foothold in the hands of those who believe and those who are looking to be in line with a new world order not to miss out.

Governments around the world are still looking out for means by which they could take advantage of the system. Decentralisation isn't something they fancy very much and it's more difficult to them realising that they would have to accept it some day but before that happens, they have to play Anti to the currency till its inevitable.

In our country alone, there are almost countless merchants that accept bitcoin nationwide to be honest. Maybe bitcoin or cryptocurrency is not well recognized in your country yet?

        In addition to that, many countries today have accepted the concept of bitcoin or cryptocurrency, in short, bitcoin is very popular in these times and has been proven in the business industry as well, even well-known large companies and celebrities are it has been accepted that where Bitcoin.

they think that crypto will kill their economical side slowly so that they take a bad action in crypto, and i it's so pity for that cause it can be press the movement of that country it self in the case of tecnology improvement

Bitcoin is without a doubt the most popular digital currency today. World famous rich people have adopted Bitcoin. All but one of the richest people out there, including Elon Musk, is associated with Bitcoin. Bitcoin may not be legalized in some developing countries so far, but in those countries, even if Bitcoin is not legalized, people are still involved with Bitcoin, avoiding the eyes of the government of that country.  Ever since Bitcoin came into the market its popularity has gradually increased its popularity has never decreased compared to other years but rather its popularity has increased compared to other years. The popularity of Bitcoin will increase in the coming days.

Many countries accept and recognize Bitcoin in the time we are facing now, and the first ones are El Salvador, Switzerland, Portugal, and even our country is also open to Bitcoin or blockchain technology.

        So I think it's either late in the news or just lack of research that you friend is doing on this matter. Many regulated businesses have entered every country that accept Bitcoin exchange in their currencies, even merchants are using it as a payment in their businesses as well.

A few months down the line we have a couple of countries that have recognised crypto to be legal tender, which means you can trade or buy it freely...but even without these regulations at play I think we have several other countries that are neutral on this issue and you can still buy crypto without any problems unless you have problems with payment processors and the alike.

It would be very difficult to calculate which country has the highest number of crypto traders. And if the calculation is done, it may not be possible to get a correct answer. Because people change their location at different times. If you calculate like this, it will be seen that the total number of traders in the country with relatively high population may be higher but the percentage of traders based on the population may be lower. And in a small country with a small population but most of the people are involved in crypto trading, if their total number of traders is low, but the percentage of traders will be high. I think it is very difficult to get accurate information like this.

There are still many big countries which allow their citizens to trade freely. UAE is a country where every exchange has opened crypto office and everybody can trade crypto their. Some country have legalized crypto but they charging fee is high like India while some country (Pakistan, Bangladesh, China) are going to ban crypto. we are using P2P trading because buying through credit card is not legal and very risky to do this. we are buying for six years and didn't faced any problem yet.

Now various countries accepting Bitcoin, so there Crypto trading is legal there. As a first country L Salvador now according Bitcoin Officially. Bitcoin is legal there. So trading and transaction are legal there. Moreover USA, Canada, Germany, France and many European country’s are accepting crypto, So Bitcoin is legal there. I think crypto trading will accepted worldwide gradually. India,  Bangladesh and some country are checking it's Good side and bad side. If they no found any negative Impact that's country will accept crypto.

Some countries have recognized Bitcoin as their legal tender and some countries oppose Bitcoin. On the opposition side, there are some developing countries that are opposing Bitcoin instead of accepting it as their country's legal tender to maintain their economic status.
El Salvador is the first country to accept Bitcoin as legal tender in their country. Everything Bitcoin related can be handled in this country. They have made Bitcoin the alternative local currency of their country. El Salvador has adopted various Bitcoin-centric plans, especially to attract tourists.The adoption of Bitcoin as a legal document was initially criticized by the president of the country.

specially, which country you live and if your country accept cryptocurrency that is possible for trading. for example at present my country not accepted cryptocurrency and trading. nevertheless, I am also trading with crypto currency and its now illegal in my country. I hope, as soon as possible our government accept Bitcoin and another cryptocurrency.

I don't see any difficulty in that if a survey is done in each country, it can be clearly understood which country has the highest number of crypto traders. The country with a higher population will obviously have a higher number of crypto traders if that is what we are looking for, but if we are looking for a country that has the highest percentage of crypto traders then we might even have a country with a lower population take the lead.

If China lifts the ban and allows its citizens to freely use and trade cryptocurrencies, I'm pretty sure they will be the country with the highest number of cryptocurrency traders, but for now, I believe it's the US because SEC is not resting until cryptocurrency casinos are there, that might change soon.

If this is calculated by the total population then China will be ahead of Russia and India in terms of population because these three countries have a large population. But while China and India lead in terms of the largest population, these two countries are currently locked out of cryptocurrency. If the uncertainty surrounding cryptocurrencies in China stabilizes, it may provide an estimate of the number of crypto users in their country. We can only collect information from countries where cryptocurrencies are legalized but how do we identify crypto users from countries where cryptocurrencies are not legalized? Because many people in that country are involved with crypto currency even though it is not approved.

Look at FPMarkets
You can your account with Cryptocurrency

Yeah, Dubai is one county that I know where you can freely use crypto without any issues. That is the reason we see a lot of startups in Dubai related to cryptocurrencies. A lot of crypto YouTubers who publish crypto content regularly have recently moved to the United Arab Emirates as it is crypto-friendly.

Also, I do not consider the China ban serious because these Chinese people keep claiming to ban Bitcoin BTC, but that is just temporary.

And if crypto is not legal in your country, better avoid it because even if you survived the 6 years, someday the law enforcement agencies may just find you and then they might put you on trial of court for using the banned product (crypto) for so many years,

Where major countries of the world are accepting Bitcoin and they are benefiting from trading in it. Of course in the countries you mentioned various transactions are done by bitcoin and many product purchases are paid in bitcoin. And in the countries where Bitcoin is legal, crypto trading is also happening and it has spread to different countries of the world. Speaking of El Salvador, they were the first country to officially legalize Bitcoin. And this Bitcoin has become most popular in El Salvador where everything from small to large accepts Bitcoin transactions and payments. Bitcoin is treated like their big currency and there are no free transactions. Therefore, the way this Bitcoin and trading is spreading around the world, it can be expected that at some point every country will accept the legality of Bitcoin.

A lot of people are using cryptocurrencies to make purchases, but not directly or indirectly For an example, the use of this currency in my country is very limited, in one word it is forbidden Because my country does not allow it due to some policy in shopping or whole field.Esalvad Central African countries are using it. More information We may know that many countries in Asia have decided to adopt it, such as Myanmar.Citizens of all countries are using cryptocurrencies through third parties, even if not legally So let us say that all the countries are adopting or are going to do some things that are dormant or regulated, but they will not be there in the future.Actually the main point is that we may not be able to present Bitcoin well to the world, so every country is considering us as unethical or something, so every country is banning us If managed properly, it will occupy a good place. When countries like China adopt it, I hope many countries will adopt it.

like the others, I'm confused about what your purpose is in making this topic, you don't seem to read enough international news, my country accepts cryptocurrencies as digital commodities and is legal to trade.

SOURCE-- (https://cointelegraph.com/news/indonesia-to-launch-national-crypto-exchange-in-2023-report)

Apart from that, there are several countries that also make Bitcoin legal tender, but for (other) altcoins I don't know whether in the future there will be countries that adopt them as legal tender, be diligent in reading international news (especially those related to economics, finance and cryptocurrencies).

As far as I know, there are countries that officially accept crypto for trading and buying. OP you probably never knew about this and didn't try to find out, if not there are many topics about which country was the first to officially accept bitcoin tender. As far as I know, El Salvador is the only country in 2021 where they officially recognized Bitcoin. Moreover, when the government of El Salvador legalized Bitcoin for the country, the majority of the country's citizens were against it. But at a time when people started enjoying better facilities using Bitcoin, then they adopted Bitcoin as their currency of choice. And already we know that El Salvador has taken many steps in favor of Bitcoin that have been successful, and there are many more plans in the future. And have they been able to build Bitcoin City in their country and I think in the future they will go further economically, and they will go further in education.

As of now, there are two countries in the world have embraced cryptocurrencies, in particular Bitcoin as a legal tender, El-Salvador and Central African Republic (CAR) and Bitcoin be used to buy good and services in these countries. In El-Savador Bitcoin is utilized for various transactions including remittances of overseas workers to their families in Bitcoin. However, it is worth noting that CAR initially adopted Bitcoin but later reversed its decision due to some external pressure from global Financial Institutions like International Monetary Fund (IMF), who discourage adoption of Bitcoin and other crypto currencies. In future adoption of Bitcoin and other cryptocurrencies will depend on many factors, such as regulatory developments, public acceptance and addressing the issues related to its security concerns.

https://coinmarketcap.com/legal-tender-countries/

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Have you heard of Central African Republic and El Salvador?
These are the two infamous countries that however have adopted bitcoin as a legal tender for use in their country. El Salvador even went as far as building a school curriculum that includes bitcoin in the learning for schools. Some other countries are yet to adopt bitcoin officially but that doesn't mean companies, financial institutions and stores within these countries ain't accepting bitcoin, it's just a little restrictions and regulatory policies here and there but with time the adoption will increase anyway.   https://news.bitcoin.com/.

There is no doubt that Bitcoin is the best digital currency of all time. Since Bitcoin is a digital currency at best, Bitcoin services are preferred for everything be it trading investments. You have given the best example here. The example you gave about El Salvador goes very well with this topic. El Salvador is the first country to adopt Bitcoin as legal tender and they are using Bitcoin in all economic activities of their country (internally). Just like every country has a local currency, El Salvador has the opportunity to use Bitcoin as a local currency. There are many more such Bitcoin-centric examples. In my opinion the best choice for trading would be Bitcoin.