Despite how crypto regulations differ from one country to another, some countries from Europe, South America, and Asia have adopted crypto and Bitcoin as an official payment method. Follow along and we will take you through 9 crypto-friendly countries globally.
El Salvador
El Salvador became the first country in the world to use Bitcoin as a legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021.
According to the National Bureau of Economic Research, Nayib Bukele, president of El Salvador, considered that Bitcoin would improve the economy by making banking easier for Salvadorans, as well as encourage foreign investment.
In 2022, more Salvadorians had Bitcoin Lightning wallets than bank accounts. In 2023, Bukele credited this change to fueling the increase in tourism to El Salvador by 95%, CNBC reported.
Germany
In 2019, Germany was one of the first nations to adopt a blockchain strategy and started incorporating blockchain technology and crypto assets; it also recognised Bitcoin as a legitimate currency for more discreet transactions, Cointelegraph wrote.
According to “Alterative Airlines” website, Germany embraces 100 crypto-friendly businesses across Berlin, as well as a dedicated area in Kreuzberg called “Bitcoinkiez” meaning “Bitcoin Neighbourhood”.
Hannover is also home to Germany’s second Bitcoin Neighbourhood initiative.
The top three most accepted digital currencies in Germany are Bitcoin, Ethereum, and Tether, “Alternative Airlines” website wrote on a blog post.
United States
The United States is home to several crypto-friendly states and cities hosting hundreds of crypto-friendly businesses and services.
San Francisco, for instance, is home to cryptocurrency trading platforms Coinbase and Kraken and there are hundreds of Bitcoin ATMs as well as over 200 crypto-friendly businesses, according to “Alternative Airlines'” blog post.
New York is also one of the country’s most crypto-friendly locations and it is home to the Bitcoin Store as well as crypto startups like Coindesk and Coin Telegraph.
Malta
Malta, also known as “Blockchain Island”, is one of the most crypto-friendly destinations in the world. Its laws make trading easier than other places and it has the highest acceptance rates of cryptocurrencies.
Slovenia
According to World Economic Forum, Slovenia is also seen as the most crypto-friendly nation, with 18%of the country’s population having some sort of cryptocurrency investment.
It is known for its clear legal framework, and it has shops, restaurants, and hotels taking digital currency payments. Crypto travellers can use either Bitcoin or Ethereum.
Its capital Ljubljana is home to the world’s first crypto-friendly shopping center “Bitcoin City” which has 450 crypto-friendly businesses as well as 4 Bitcoin ATMs and over 200 merchants who say they accept digital currencies.
Argentina
Argentina adopted crypto more practically and has used it as a more stable alternative to Argentine Peso.
Buenos Aires is also one of the South America’s most crypto-friendly cities where there are more than 130 businesses and 11 Bitcoin ATMs across the city.
Switzerland
Switzerland, a global leader in finance and innovation, was quick to adopt the blockchain and cryptocurrency, according to Deloitte research.
It offers low to no tax for individuals and businesses crypto profits, which allowed many businesses to accept digital currencies.
Zug, Zurich, and Ticino are three Swiss cities with a variety of crypto-friendly businesses, including the ability to pay for train fares in Bitcoin.
Zug is the home of Ethereum, Cardano, and Tezos foundations with 840 businesses accepting cryptocurrency.
Japan
Japan is the most crypto-friendly nation in Asia and amongst the top crypto-friendly countries in the world, according to Coincodex and Binance.
It recognised Bitcoin as a legal form of payment in 2017.
Netherlands
Netherlands is known for having a strong and active crypto scene and is home to Bitonic, BitPay, and the Bitcoin Foundation, SwissMoney wrote in a blog.
It does not have strict regulations against crypto and instead takes a self-regulatory approach.
Its capital, Amsterdam, is also home to Bitfury. Amsterdam embraces over 30 restaurants, shops, and services that accept digital currencies; Bitcoin Boulevard within the same city also has 10 bitcoin-friendly businesses along the canal.
Amsterdam is additionally host of Crypto Embassy, a collaborative networking environment that allows the local crypto community to meet up and organise events.
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