Top 5 Bitcoin Friendly Countries in the World Today
Bitcoin became a household name in the wake of the cryptocurrency boom of late 2017, which resulted in a general interest to learn about bitcoin. The general public grew accustomed to the idea of a fully digital currency. As a result, bitcoin gained real world purchasing power. Now, there is a global push to allow bitcoin’s use as legal tender.
Some countries are progressing quickly towards this goal. These pioneers are exploring technology that allows their citizens to easily get involved. These methods include easing access to bitcoin through special ATMs, encouraging bitcoin’s use and creating laws that supports bitcoin’s future success.
Accessibility to use bitcoin is increasing, so we list down the most bitcoin friendly countries as of 2019.
Sweden and Denmark
Once again, the Scandinavian countries are at the front of economic progress.
Sweden and Denmark both expressed the desire to transition to a cashless society. This is an ideal that synchronizes well with bitcoin’s use.
Both countries have declined to regulate cryptocurrencies directly. Yet, they have still encouraged their use as payment. This has led to bitcoin seeing a rise of use and availability in both Sweden and Denmark.
Malta positioned itself throughout 2018 as the go-to destination for new cryptocurrency companies, making it one of the most bitcoin friendly countries today. In part, this is due to their standing regulatory framework.
Unlike some countries, Malta created clear laws on how cryptocurrency companies can operate. These laws benefit both the company at hand and Malta itself.
Crypto-companies are flocking to the island, including top cryptocurrency exchange Binance.
The nation of Singapore remains the capital for blockchain development. Indeed, this small Asian nation is well known for hosting some of the top technology firms in the world.
Their government’s informed approach to cryptocurrency has allowed the industry to flourish. Singapore even hosts one of the first completely cashless businesses; the Ducatus Café. Operated by a cryptocurrency mining company, Ducatus only accepts digital currency.
The United States
The United States has a curious relationship with bitcoin. Many of the original projects associated with blockchain technology originated in the USA.
Over 2,000 of the 3,000 total bitcoin ATMs worldwide are in the United States.
The lack of federal regulations hampers aspects of bitcoin’s progress. But there’s a variety of cryptocurrency exchanges available in the US.
However, some states have progressive laws that rival those of Singapore or Malta. Most major cities have merchants that accept bitcoin as a form of payment.
A firm set of federal guidelines would help make the US the friendliest country for bitcoin. The average American user is more than ready to start using bitcoin as a currency.