best countries for btc

[HONDACD125]

UAE recently just got ranked among the top five crypto destinations which consist of the following: singapore, hong kong, usa, and switzerland. this ranking involves, i assume, friendliness of the country towards crypto considering their regulatory jurisdictions.

would you agree about the countries involved? are you interested in moving into these countries or starting a business that is crypto related? also there is no country from africa in the ranking. could there be one in the future?

Yes, these countries are pretty friendly with crypto, and that is the reason why they are at the top of the list. UAE, I think, is the most friendly of them all because I have read somewhere that they have almost zero taxes for cryptocurrencies, which I think is for businesses. Imagine running a crypto-related business and not having to pay any taxes or at least not a lot, while other countries probably have a lot of taxes on cryptocurrencies for both capital gains and businesses, if I'm not wrong.

About your second point, it's not that easy to move from one country to another only because that country is more friendly towards cryptocurrencies than yours. There are a lot of challenges that one will face when making such a decision. If someone has a lot of money, and they plan to go to a country and start a business there, that's a different thing, but moving only as an individual for using Bitcoin freely isn't really a very bright idea, if you ask me.

[SodaOak]

UAE recently just got ranked among the top five crypto destinations which consist of the following: singapore, hong kong, usa, and switzerland. this ranking involves, i assume, friendliness of the country towards crypto considering their regulatory jurisdictions.

would you agree about the countries involved? are you interested in moving into these countries or starting a business that is crypto related? also there is no country from africa in the ranking. could there be one in the future?

I have a problem with US, what we are seeing now is all about today, there are too much enemies in the US who doesn't want the US to be friendly with crypto, this means that in the future if the opposite party takes over the sit of the president again there will be problem and US will no longer be a friendly country once again, imagine leaving behind your own country to go and start a crypto company in the US and this happened? The time wasted on your company isn't coming back.

It is smarter to go into countries where they don't abandon Bitcoin anytime they want, the best ones that suits this more are UAE and HongKong, i know more  about HongKong than UAE, if you don't want any future problems with crypto regulations and bans HongKong is the best place to be, they fully supported crypto and there is no law that can stop it from happening, only China will always be where crypto will likely be abandoned in the future.

[Lida93]

I'm not interested to move to another country but can visit and come. I don't know if the ranking done in every year because last year I was seen other countries on the row. And definitely there will be more in the future. Nigeria, South Africa and other African countries will definitely be among the top 10 crypto countries in the world. But what bothers me is El Salvador which was the first country to adopt bitcoin as a legal tender yet he is not among the best countries in bitcoin ot crypto.

I don't know the source from which they got their data, but even if it's being rated by countries with the most crypto users, you don't expect El Salvador to be among the top because they make bitcoin legal tender. That does not mean their citizens embrace bitcoin like other countries do. It's something. Nigeria, in some data, usually shows up among the top countries with the most rising interest in crypto, while some data don't even include them among the top 10.

Perhaps there are discrepancies in how the sources gather their data to arrive at their list, because if I was to be asked to list top 5 cryptocurrency friendly countries I wouldn't omit El Salvador in my list due to the obvious Nwada made mention of. But then do their citizens make use of bitcoin as much as citizens in other countries that are yet to declare bitcoin a legal tender in their own jurisdiction do?  Like Nigeria for example, in Africa it's one of the countries with the highest cryptocurrency embrace by the citizens but by regulatory policies they can't be counted for a crypto friendly country.

[DanWalker]

I have a problem with US, what we are seeing now is all about today, there are too much enemies in the US who doesn't want the US to be friendly with crypto, this means that in the future if the opposite party takes over the sit of the president again there will be problem and US will no longer be a friendly country once again, imagine leaving behind your own country to go and start a crypto company in the US and this happened? The time wasted on your company isn't coming back.

It is smarter to go into countries where they don't abandon Bitcoin anytime they want, the best ones that suits this more are UAE and HongKong, i know more  about HongKong than UAE, if you don't want any future problems with crypto regulations and bans HongKong is the best place to be, they fully supported crypto and there is no law that can stop it from happening, only China will always be where crypto will likely be abandoned in the future.

No national government is truly absolutely trustworthy, not even Hong Kong or the UAE, let alone the US. We have no guarantee that they will always maintain that stance or that the new government will be crypto-friendly. Any country can change its attitude towards cryptocurrencies, if it feels it no longer benefits from it. That's the nature of government, they always put their own interests first and not the future of bitcoin or crypto.

If I had to choose the most trustworthy country, I think El Salvador is the one to consider, not Hong Kong or UAE. Has Hong Kong or UAE made bitcoin legal tender?

[Rustam Meraj]

Perhaps there are discrepancies in how the sources gather their data to arrive at their list, because if I was to be asked to list top 5 cryptocurrency friendly countries I wouldn't omit El Salvador in my list due to the obvious Nwada made mention of. But then do their citizens make use of bitcoin as much as citizens in other countries that are yet to declare bitcoin a legal tender in their own jurisdiction do?  Like Nigeria for example, in Africa it's one of the countries with the highest cryptocurrency embrace by the citizens but by regulatory policies they can't be counted for a crypto friendly country.

Yes it is not just about what government says but it is also about how much people actually use crypto. Like example you given El Salvador made Bitcoin legal currency but many of its people still prefer to use U.S. dollar. In contrast in Nigeria government is strict about crypto yet more people use it there than almost anywhere else because of economy. On basis of these differences some lists rank countries differently some focus on government rules and others look usage means how many people are actually using crypto. Truly crypto friendly country needs both.

[Swordsoffreedom]

I'm not interested to move to another country but can visit and come. I don't know if the ranking done in every year because last year I was seen other countries on the row. And definitely there will be more in the future. Nigeria, South Africa and other African countries will definitely be among the top 10 crypto countries in the world. But what bothers me is El Salvador which was the first country to adopt bitcoin as a legal tender yet he is not among the best countries in bitcoin ot crypto.

I don't know the source from which they got their data, but even if it's being rated by countries with the most crypto users, you don't expect El Salvador to be among the top because they make bitcoin legal tender. That does not mean their citizens embrace bitcoin like other countries do. It's something. Nigeria, in some data, usually shows up among the top countries with the most rising interest in crypto, while some data don't even include them among the top 10.

The government cannot force all citizens to accept bitcoin, but having an open and bitcoin friendly government will be key to creating a good environment for bitcoin.

With El Salvador making bitcoin legal tender, this means people are free to do whatever they want with their bitcoins. Not only can Salvadorans invest in it, but they can also use it as a currency, a method of payment. Can Nigerians use bitcoin that way? Can they use bitcoin as currency and be welcomed by the government?
Not to mention, even though Nigerians are accepting and using bitcoin more, can they continue to do so comfortably and freely if the government imposes a ban again?

So, it would be a serious omission if El Salvador were not listed among the countries with the best environments for BTC.

[john_egbert]

I'm not interested to move to another country but can visit and come. I don't know if the ranking done in every year because last year I was seen other countries on the row. And definitely there will be more in the future. Nigeria, South Africa and other African countries will definitely be among the top 10 crypto countries in the world. But what bothers me is El Salvador which was the first country to adopt bitcoin as a legal tender yet he is not among the best countries in bitcoin ot crypto.

I don't know the source from which they got their data, but even if it's being rated by countries with the most crypto users, you don't expect El Salvador to be among the top because they make bitcoin legal tender. That does not mean their citizens embrace bitcoin like other countries do. It's something. Nigeria, in some data, usually shows up among the top countries with the most rising interest in crypto, while some data don't even include them among the top 10.

The government cannot force all citizens to accept bitcoin, but having an open and bitcoin friendly government will be key to creating a good environment for bitcoin.

With El Salvador making bitcoin legal tender, this means people are free to do whatever they want with their bitcoins. Not only can Salvadorans invest in it, but they can also use it as a currency, a method of payment. Can Nigerians use bitcoin that way? Can they use bitcoin as currency and be welcomed by the government?
Not to mention, even though Nigerians are accepting and using bitcoin more, can they continue to do so comfortably and freely if the government imposes a ban again?

So, it would be a serious omission if El Salvador were not listed among the countries with the best environments for BTC.

It's important to let people know why they would want to use BTC in the first place: it's not another name for the usual fiat system, it's something more packed with so much more to learn and use.

[aylabadia05]

<snip>

The government cannot force all citizens to accept bitcoin, but having an open and bitcoin friendly government will be key to creating a good environment for bitcoin.

With El Salvador making bitcoin legal tender, this means people are free to do whatever they want with their bitcoins. Not only can Salvadorans invest in it, but they can also use it as a currency, a method of payment. Can Nigerians use bitcoin that way? Can they use bitcoin as currency and be welcomed by the government?
Not to mention, even though Nigerians are accepting and using bitcoin more, can they continue to do so comfortably and freely if the government imposes a ban again?

So, it would be a serious omission if El Salvador were not listed among the countries with the best environments for BTC.

Using El Salvador as an example of system implementation, I believe it's the first country being used as a model for other countries, where they believe shortcomings can be addressed by other countries that want to implement it.

No government would want to force its citizens to accept Bitcoin, but a wise government that cares about transparency and preventing corrupt cultural practices could implement the blockchain system as a financial management system.
This could be a solution for developing countries that still struggle with bad financial practices.

Even if it doesn't legalize Bitcoin like El Salvador, at least making Bitcoin a national reserve is a very good idea, rather than investing the money elsewhere.

[Kagaru]

Using El Salvador as an example of system implementation, I believe it's the first country being used as a model for other countries, where they believe shortcomings can be addressed by other countries that want to implement it.

No government would want to force its citizens to accept Bitcoin, but a wise government that cares about transparency and preventing corrupt cultural practices could implement the blockchain system as a financial management system.
This could be a solution for developing countries that still struggle with bad financial practices.

Even if it doesn't legalize Bitcoin like El Salvador, at least making Bitcoin a national reserve is a very good idea, rather than investing the money elsewhere.

I agree that governments cannot force anyone to use Bitcoin  but they can create a positive environment where citizens can take advantage of alternative financial systems. The example of El Salvador is certainly important  but whether it is ideal for all countries depends on the situation. If there is a ban  ordinary people will turn to online peer to peer transactions  but it is difficult to say whether it will be safe or sustainable. The reality is that the benefits of Bitcoin will only come when citizens have freedom  knowledge  and technology in their hands.

[TreyARC]

I'm not interested to move to another country but can visit and come. I don't know if the ranking done in every year because last year I was seen other countries on the row. And definitely there will be more in the future. Nigeria, South Africa and other African countries will definitely be among the top 10 crypto countries in the world. But what bothers me is El Salvador which was the first country to adopt bitcoin as a legal tender yet he is not among the best countries in bitcoin ot crypto.

I don't know the source from which they got their data, but even if it's being rated by countries with the most crypto users, you don't expect El Salvador to be among the top because they make bitcoin legal tender. That does not mean their citizens embrace bitcoin like other countries do. It's something. Nigeria, in some data, usually shows up among the top countries with the most rising interest in crypto, while some data don't even include them among the top 10.

The government cannot force all citizens to accept bitcoin, but having an open and bitcoin friendly government will be key to creating a good environment for bitcoin.

With El Salvador making bitcoin legal tender, this means people are free to do whatever they want with their bitcoins. Not only can Salvadorans invest in it, but they can also use it as a currency, a method of payment. Can Nigerians use bitcoin that way? Can they use bitcoin as currency and be welcomed by the government?
Not to mention, even though Nigerians are accepting and using bitcoin more, can they continue to do so comfortably and freely if the government imposes a ban again?

So, it would be a serious omission if El Salvador were not listed among the countries with the best environments for BTC.

The same can never happen in Nigeria unless a bitcoin friendly president is elected, right now the government is looking  for all way possible to task crypto holders, this is the latest in the country, which is so cruel, for a country that's less developed economic wise and unrest of insecurity, the only thing the government can think about is tax on crypto. EL Salvador and HongKong are the most Bitcoin friendly places that I know, nothing comes close to these two.

[Tungbulu]

In my opinion, I’d say that the ranking is actually fair because the countries you mentioned above have built quite a notable reputation for being innovative and friendly as it concerns Bitcoin, so yeah, it makes a lot sense to include them in  the top five.
Although I believe Africa is still coming around, for the past few years, the demand for crypto across Africa is rapidly increasing, the only problem with Africa is that they have no clear rules or regulations guiding crypto adoption or crypto currency itself.  If they can manage to do this, it’ll create a more suitable environment for enthusiasts.

[Scarlett_23]

Traveling to these countries to start a business is totally waste of funds, why not use the funds meant for moving into these country to invest aggressively because traveling are way too expensive.

This idea will be more suitable for businesses, entrepreneurs, who are looking for a more open and friendly environment than cryptocurrency to expand their business. But this is a bad idea and waste of money for individual or small investors like us.

Aside from facing waste, moving to another country just for bitcoin. That will make investors like us face many different challenges from living environment, culture, language and other issues. This is not simple, and it is easier said than done.


If I remember correctly there were a few threads discussing this 2 or 3 years ago, many people advising each other to move to a more bitcoin friendly country. But I believe they just come up with random ideas, no one does it just for bitcoin, because our life doesn't revolve around bitcoin.

Countries with good infrastructure and political stability are the ones that attract investors and businessmen. Changing countries for Bitcoin is only for those who have huge money. Those who have the ability to mine will not have any financial problems even if they leave their place. However, for ordinary people, small investments in Bitcoin should be made in their own country. The current President of the United States is interested in Bitcoin as a strategic currency reserve, which is why the United States has recognition for investing in Bitcoin. However, the situation in that country may change if the next government is anti-Bitcoin. Again, such a picture can happen at any time for any other country. So I am interested in traveling to any country but not just going to emigrate for Bitcoin.

[m2017]

UAE recently just got ranked among the top five crypto destinations which consist of the following: singapore, hong kong, usa, and switzerland. this ranking involves, i assume, friendliness of the country towards crypto considering their regulatory jurisdictions.

would you agree about the countries involved? are you interested in moving into these countries or starting a business that is crypto related? also there is no country from africa in the ranking. could there be one in the future?

Yes, the UAE seems to have become the biggest crypto-supported country lately. If you search, you will find large numbers of crypto platform offices in the UAE, including Binance. Besides that, you can cash out your Bitcoin or crypto there easily, and you can use it to establish your own business. For me, I would move to such countries for business, definitely to settle my own business. For the UAE, it was easy for me to move there and establish my own business there.

Sadly my country bans Bitcoin rather than adapts to it. That's the reason even you can't cash out a big amount of crypto in my country. So moving to a crypto-friendly country will help me to cash out my holdings and start a business there.

For some reason, the US doesn't seem like the "best country for bitcoin" to me. Maybe it's because of their greed with taxes?

Prices in the UAE are absolutely uninspiring. I would only imagine early bitcoiners moving there.

Singapore and Hong Kong are also quite expensive.

For example, can you imagine buying real estate (the very first thing you need when moving) in these countries? You could go broke!

I think that in the future, the "best countries for bitcoin relocation" will change their stance and start introducing taxes (small ones at first) once the number of BTC-users increases in their location.
And if stop whining about "it's expensive to live in these countries," then in theory, these countries offer good opportunities for starting a new life after transferring "value" from bitcoin into traditional forms of money. Zero taxes are what bitcoiners need, and your country of residence will still receive a share of the profits from the business you create or the property you purchase. I still believe that the future belongs to these countries, whose loyalty to bitcoin will attract BTC-investors to their countries, and therefore capital, which will allow them to economically outperform countries that are opposed to bitcoin.

It would be nice to hold a poll and find out how many forum members have already moved to one of these countries.

[aylabadia05]

<snip>

I agree that governments cannot force anyone to use Bitcoin  but they can create a positive environment where citizens can take advantage of alternative financial systems. The example of El Salvador is certainly important  but whether it is ideal for all countries depends on the situation. If there is a ban  ordinary people will turn to online peer to peer transactions  but it is difficult to say whether it will be safe or sustainable. The reality is that the benefits of Bitcoin will only come when citizens have freedom  knowledge  and technology in their hands.

We need to remember that convenience and freedom are what everyone, including you and I, desires most when it comes to financial matters. Right? If so, then the Bitcoin system for transactions and storage is the best because it doesn't involve or is not regulated by a third party.

As for whether El Salvador is an ideal country with Bitcoin as legal tender? My answer is not necessarily because the pros and cons will never disappear wherever there are people with brains to think.
Whether this technology is recognized or not, I believe it needs to be considered in terms of its use for the sake of transparency in state financial management.

[betswift]

Countries on the initial list are good only if you have big buck going, as others already outlined.

Sure, they would have more regualtions / adoption going even now, but it wouldn't be enough to move to them.. You would need to pack some real punch to such an intent.

[beveryu778]

UAE recently just got ranked among the top five crypto destinations which consist of the following: singapore, hong kong, usa, and switzerland. this ranking involves, i assume, friendliness of the country towards crypto considering their regulatory jurisdictions.

would you agree about the countries involved? are you interested in moving into these countries or starting a business that is crypto related? also there is no country from africa in the ranking. could there be one in the future?

Dubai is a very crypto-friendly country, there is no tax on crypto. That is why most crypto businessmen prefer Dubai. And corrupt people from most Asian countries take the money they have earned through crypto to Dubai and sell it there because there is no tax on crypto. I myself like Dubai because it is a country where one can live a luxurious life. And if I had that kind of money, I would definitely choose Dubai for a luxurious life.

[Zaka1221]

I'm not interested to move to another country but can visit and come. I don't know if the ranking done in every year because last year I was seen other countries on the row. And definitely there will be more in the future. Nigeria, South Africa and other African countries will definitely be among the top 10 crypto countries in the world. But what bothers me is El Salvador which was the first country to adopt bitcoin as a legal tender yet he is not among the best countries in bitcoin ot crypto.

I think Africa is big country And that country will learn about the investment of BTC . BTC is best investment for all people because it is not too risky and physical business is more risky that Bitcoin investment. People should learn more about BTC in the Africa and we will see more countries of Africa in the support of Bitcoin. USA is a country in which more people are free and these people have idea of investment and they have more knowledge of cryptocurrency and we are watching best investors in that country .UAE has millions of people who are doing trade of Bitcoin because they have a bulk of money on side and they want to gain profit and they are Investing the money for that long run .

[uneng]

My country Philippines doesn’t even have a law about Bitcoin regulation. Our government don’t have any positive or negative stand and we are free to do whatever we want without limits and taxes.

That is the best kind of country for Bitcoin. The less governments get involved in Bitcoin matters, less regulations, bureaucracy and taxes to be paid. Plain and simple, just like it used to be during the early days of this industry. There wasn't mandatory KYC and you could access a much wider range of crypto platforms without getting concerned if your country was restricted or not. It meant more opportunities for everyone.

However, it's just a matter of time until Philippines leaves the neutral stance towards Bitcoin. Every governments are regulating crypto industry, because it has reached a significant portion of their citizens already. So, of course, governments want to profit from transactions and services involved, and Philippines must not be an exception.

[BTC FutureKing]

Countries on the initial list are good only if you have big buck going, as others already outlined.

Sure, they would have more regualtions / adoption going even now, but it wouldn't be enough to move to them.. You would need to pack some real punch to such an intent.

You are right because if we look at the best and most popular Bitcoin in the world, we should know about it. Everyone is giving their own opinion. If I look at it according to my thinking and as much as I have seen, it is the city in America where the most Bitcoin is used and worked on. It is also right that it is best and necessary to know how much Bitcoin they have now and what they can do with it.

[rdbase]

would you agree about the countries involved? are you interested in moving into these countries or starting a business that is crypto related? also there is no country from africa in the ranking. could there be one in the future?

Most countries are crypto friendly so if your country doesn't frown at those who are into cryptocurrency then why the need to move to another country? except that crypto is restricted or banned in your country and you are a crypto enthusiast then you can move to a country that is crypto friendly. For the fact that no African country is there in the ranking does not mean that African countries are not a destination for cryptocurrency, you can do your research, and you will see African countries that are at the forefront of cryptocurrency.

With the recent news of CZ the former CEO of Binance visiting Bhutan it shed a light of how crypto-friendly this country truly is especially with them revealing they now have a bitcoin reserve and amassing several thousands the past several years from it.

https://x.com/cz_binance/status/1919979338495381909

https://blockworks.co/news/bhutan-btc-mining-operations
https://coincentral.com/bhutan-becomes-third-largest-bitcoin-holder-with-green-mining-push

Mining their bitcoin so clean should show those who oppose doing it to rethink their strategy going forward.