The top 5 countries are ‘paradise’ for cryptocurrencies

[masterrex]

There is nothing more appealing to a crypto enthusiast than an environment suitable for holding or trading cryptocurrencies, In my opinion here are the 5 most crypto-friendly countries. In your opinion, which countries are crypto friendly? Please list...

Looking at your list of the top 5 most crypto-friendly countries, if I were to start my own cryptocurrency-related business I would go for Malta or Bermuda as definitely these places are tax haven and known for protecting their locators away from the onerous regulations and burdensome policies. Japan is definitely the top big country when it comes to accepting Bitcoin but it also has one of the most regulated environment so doing business there can be a difficult one. Same with the USA where SEC has become so powerful and can be a big pain the ass if one is not careful.

In the list, I would like to add some European small countries/territories like Liechtenstein, Estonia Slovenia, Gibraltar and Lithuania. In Asia, we can add North Korea, Thailand and the Philippines to be viable places to do crypto business. These countries are attracting many fintech locators as they are offering many perks and benefits other countries are not doing. There seems to be a good competition with these countries and that is actually good. As they are saying: "The more, the merrier..."

Yeah thats true my country Philippines was creating a Crypto Valley of Asia (CVA) up north in the "Cagayan Ecozone" It was an eight hectares of land that was set aside for that ultimate purpose. According to the CEZA a government own agency manage the ecozone, Philipines has attract more locators because of its crypto-friendly regulations, and approach. aside from that development Our country was already adopting fintech development, all in one app wallet, there you can buy crypto paid your bills (utility bills) beep card gaming credits, money transfer, banking ,shopping etc. and it help millions to save time.

[bering]

This might be not in the top 5 countries according to OP review but Thailand also accepting bitcoin and people can go to vacation and pay the restaurants or hotels use their bitcoin and compare from those places i think in Thailand also plenty of beautiful places deserve to be visited but regarless all of it i think this is one of the progress from bitcoin development and if supose can soon i want to see more countries to be visited accept bitcoin too

[tenakha]

In your opinion, which countries are crypto friendly? Please list

Estonia, Liechtenstein and Switzerland may be added to the order of these countries. They are also crypto friendly countries. Check out this link: https://medium.com/æternity-ventures/top-8-crypto-friendly-countries-e6bbf90e8161

[Wintersoldier]

For me, Philippines is one of the countries that can be nominated to be part of the best countries that is a considerably a physical platform for cryptocurrencies. Why? Because of the mobile and dekstop applications being developed in the country. It doesn't limit its people in investing and trading cryptos. And also, there is allot of banks, pawnshops and financial institutions that utilizes cryptocurrencies.

[Samboo]

You have done a good research to find out which countries are more friendly to cryptocurrency. I think Japan is the most friendly country which has made it easier for the trade and mining of cryptocurrency, but it has supported the entire crypto market as a way to facilitate the people in various ways. My question is what about China in relation to cryptocurrency? If China becomes pro-crypto country, the entire crypto market will progress considerably.

[o48o]

I would add Finland and Estonia to the list but Finland had some backslash with their new taxation system that is horrible. No doubt they will fix it later but as of right now i am still waiting a better solution until reporting anything. We had a better system in Finland already but they screwed us up. That can happen in other crypto havens as well in the future.

[DonFacundo]

In my opinion the most country that crypto friendly is Japan. Their government is very supportive to bitcoin, so if you're going to Japan, no need to convert Yen, just use bitcoin for payment.

[takngantuk]

There is nothing more appealing to a crypto enthusiast than an environment suitable for holding or trading cryptocurrencies, In my opinion here are the 5 most crypto-friendly countries.

Malta
Topping the list is Malta. The country has become a haven for cryptocurrency companies and businesses due to its tax-friendly policy, even for foreigners. This country has a prime minister who fully supports all cryptocurrencies.

Bermuda
Bermuda is a small island with a population of about 65,000 people in the Caribbean. This country has attracted companies with a free tax policy. This also applies to cryptocurrencies as the country aims to become a haven for the cryptocurrency industry

Japan
Japan is a leading country in the cryptocurrency space. Japan is the first country in the world to accept Bitcoin as legal. The country was also the first to adopt extensive regulations for more than their cryptocurrency exchanges.

Germany
Cryptocurrencies are considered to be a separate unit of money and an accepted means of payment in the country by the German National Tourism Board 2018. Germany has a cryptocurrency-friendly financial system.

Singapore
Cryptocurrencies will be considered commodities, not currencies in Singapore. Any company dealing with cryptocurrencies is required to pay GST (Goods and Services Tax)

In your opinion, which countries are crypto friendly? Please list

What? seriously where is china and korea they are better than singapore and germany, remember that asic miners for mining bitcoin comes from china, bitmain technologies is in Beijing china and korea seem more into crypto than Singapore to me

I heard that last year China banned all crypto mining activities. and last year there were also some problems with the crypto exchange, many exchange offices moved because of this problem. so I don't think China is included in a country that is friendly to crypto and its holders.

compared to china, korea is better. and I think Korea deserves the title of crypto-friendly country.

[zeze18]

I would add china.
Why ? Because even their government is banned crypto, the whales in cryptocurrency many of them are chinesse.
Many big exchanges with super big volume are in china, and i also think when china whales take a move, market will move also

[Javi_Anibarro]

I agree, most crypto related companies are transferring their HQ in Switzerland because they welcome such innovation.

I dont know why its not on the list of OP.

Netherlands - there are also start-ups in this country that are quietly building their infrastructures or network.

It is understandable for him to do that, we can not expect everybody to know everything. This is why he came up with this idea and created a thread so people can discuss the country that is not listed above.
there are more than that such as Norwegia and Sweden can be considered as one too.

[xSkylarx]

I would add china.
Why ? Because even their government is banned crypto, the whales in cryptocurrency many of them are chinesse.

How can it be a paradise if their own government banned it? If you use crypto on that country you won't feel safe because something not good might happen to you. We all know that China is a very strict country and going against their rules is a serious problem. If some whales are chinese then I think they don't live in China.

Many big exchanges with super big volume are in china

Tell me an exchange that is based on China. Binance owner is chinese but their office is on Malta as per wikipedia. https://en.wikipedia.org/wiki/Binance

[airdnasxela]

I definitely agree with your list. I don't know much when it comes to other countries, how they view and act with regards to cryptocurrencies but what I can mention hwre is my own country, Philippines. Philippines may not be that big when it comes to adoption and innovation of cryptocurrency but ph is a crypto friendly country. You can use crypto for payment like utility bills and etc. There are shops that are also starting to accept bitcoin and other coins. We don't have such big crypto related companies that are based here in the ph but if small businesses would give chance for crypto, more Filipinos could learn about it. I just hope in the future that more merchants and entities will accept crypto here in my country

[Patrix_1]

You forgot about Switzerland and in my opinion it is much more crypto friendly as Germany. I am living in Germany and I heard that they are also against Libra coin, so nobody knows if Germany is really not against crypto currencies.

[shaheer001]

Thanks to sharing nice Info no doubt Malta is on top and as per my knowledge the Binance exchange is also now handled from malta and many more. Russia and the rest of Europe are also a good future for crypto trading.

[wedosgibas]

Korea - i think outsiders arent allowed to participate in any korean related projects.
...

South Korea, Hong Kong, also mostly have a good crypto community. Most projects from South Korea are indeed somewhat closed to public participant, but they really have quality.

[Pearls Before Swine]

Interesting thread here.  I more or less knew that crypto is extremely popular in Germany, Singapore, and Japan but I knew nothing about the same in Malta or Bermuda.

Sometimes I think I'm a citizen of the wrong country, even though I have some patriotism in my blood.  Bermuda and Malta are beautiful countries and it sounds like those would be ideal residences for someone who owned a lot of bitcoin or altcoins.  Unfortunately I'm not in that group, but I'd still love to live in one of those countries.

You forgot about Switzerland and in my opinion it is much more crypto friendly as Germany. I am living in Germany and I heard that they are also against Libra coin, so nobody knows if Germany is really not against crypto currencies.

Yeah I'd imagine Switzerland would be very liberal as regards cryptocurrencies.  They're famous for their anonymous banking industry, tho that's changed over the years.  Germany is against Libra?  That's interesting, but that doesn't mean they're against crypto in general.  Not sure what the major issue is with Libra that's been making it seem so much different than other stable coins, but it sure has attracted a lot of attention and scorn.  Germany is a great country, too, btw.

[ganeshramk]

Switzerland and Netherlands aremuch friendlier to crypto as compared to Germany. Even their tax regulations have their own crypto space. Correct me if I am wrong.

[TaliskerDarkStorm]

I think you need to add Turkey to the list. Turkey is a very optimistic country for cryptocurrencies . Does not include any restrictions. In addition, the Turkish state is working on the blockchain itself and wants to add the blockchain to its own currency. There is even a rumour that Turkey is preparing to issue its own cryptocurrency.

[Mila52]

I'm agree with TS and his analysis of countries. Malta is the leader. But I want to mention Belarus, where from March 28 2018  can legally buy and sell cryptocurrency. Such operations are allowed to individuals . Moreover, until January 1, 2023, crypto-exchange operations willn't be taxed.

[ChrisPop]

I haven't seen Portugal in your list. As far as I know they have zero tax on cryptocurrencies? Please correct me if I'm wrong.

Indeed all these countries are pioneering the cryptocurrency movement and they will surely gain some economic traction thanks to this, but in order for a foreigner to profit from this he either has to move to obe of the countries listed or create a business there. In either cases there are some complex procedures to follow that might not be suitable for everyone.