Digital currencies are becoming more and more popular every single day. People that haven’t invested yet are willing to do that in the future. However, they are afraid that turbulent changes in the crypto value won’t help them achieve their financial goals.
Well, it is important to mention that there is no such thing as certainty in the world of investors. You do not know what can happen in the future and which factors can influence your failure. That is the reason why you should focus on the improvement of your knowledge and skills. Besides, you can also use programs that can assist you during your journey. These software solutions can predict the best time to start trading with cryptos. If this seems like a legit way to raise your chances of profit, then you should go url. We are pretty sure you will find some interesting things on the link that we attached.
On the other hand, the chances to succeed also depend on the crypto laws and regulations in your country. If you want to succeed as a crypto investor, then you should probably put into consideration moving to another country. The reason why we say this is simple – some countries are more crypto-friendly than others.
Of course, the question you probably have now is – which countries are the most crypto-friendly in the world? You would probably say that the USA or Canada are on the top of that list. However, that’s not quite correct. That is the reason why we would like to highlight those countries that deserve the attention of all the crypto investors. Let’s find them out together!
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1. Portugal Is Number One!
Source: afar.com
Experienced crypto investors know that Portugal is the most crypto-friendly country in the world. Believe it or not, the government of this country has invested a lot of energy and time to make Portugal perfect for crypto investors.
The main reason why authorities in this country decided on that move is economical crisis and instability. Did you know that Portugal experienced hyperinflation during the 90s? The entire country almost went bankrupt because of that. Leaders of the country, as well as its citizens, do not want to allow something like that to happen once again.
Since the very beginning, the responsible institutions are working hard to prevent all the money laundering activities connected with digital currencies. Despite that, many public services in Portugal are now using blockchain technology. All these factors put Portugal in first place on this list.
2. Malta
Source: thejakartapost.com
The owners of crypto-businesses would not hesitate to start their business in this country. 2019 was a crucial year for Bitcoin and other altcoins in this country. The statement of the Prime Minister of Malta probably boosted the popularity of cryptos even more. He said that the government is investing a lot of effort to ensure that all businesses and individuals do not get penalized because of their crypto trading.
So, how Malta managed to ensure that? Logically, by making the crypto laws more flexible. For instance, all the blockchain companies can operate in Malta without any fear of taxes. We are pretty sure that this is going to be a good sign for all the entrepreneurs that plan to get involved in this industry.
3. Argentina
Source: craneww.com
After two European countries, we are now moving to South America. More precisely, the third crypto-friendly country in the world is Argentina. Just like Portugal, Argentina is one of the countries that experienced a long financial instability. That is the reason why Bitcoin and other cryptos seem like a good alternative to many of its residents.
So, how Argentina reached third place? Many crypto experts confirm that Argentina has a huge potential to become a highly developed crypto country. Their laws and regulations are flexible enough to attract hundreds of investors and miners to come and operate here. Despite that, just like in Malta, the laws are very good for all the crypto-businesses.
4. Switzerland
Source: coe.int
We are pretty sure that many of you are not surprised to see Switzerland on this list. Whenever we are talking about some sort of finances, then this country has to be there. Besides, it is the “land of banks”, isn’t it?
Anyway, the approach of the Swiss government towards cryptos is very positive. The government officially announced that they do not consider digital currencies as a threat to the national economy.
There are many interesting things about crypto regulations in this country. For instance, the tax exemption is 100% for all the profits made of crypto sales. That s the method that officials plan to use and attract different crypto companies and start-ups. It is hard to say whether the same regulations will last forever. However, in 2024, Switzerland definitely is one of the most crypto-friendly countries.
5. Luxembourg
Source: linkedin.com
One of the smallest countries in the world is also on this list. Luxembourg recognized cryptos as digital assets (similar to other EU members). Despite that, it also recognizes Bitcoin and other altcoins as the legal and legit currency. You will easily manage to trade and mine cryptos without any restrictions.
Yet, it seems that Luxembourg is a step ahead of other EU members. The precise and clear regulations and laws attracted so many crypto investors and entrepreneurs. Their number will probably be even bigger in the future.
6. Georgia
Source: blog.wego.com
Things in Georgia are a bit different. The law recognizes all the cryptos as property which is in the best interest of many people there. Despite that, throughout mainstream media, the government of Georgia is supporting people that want to actively use blockchain technology. They constantly talk about the benefits this technology can bring to their national economy. The tax rates are also specific for all crypto investors. The reason why they are a bit lower is simple – the government wants to attract foreign investors.
Final Thought
As you see, most of these countries are from Europe (despite Argentina). The situation in the other parts of the globe is different. For instance, United States is in 11th place on this list while South Korea is in 10th place. Something will probably need to change in the future so these two countries (they both have a big number of crypto users) could go up on this list.
Anyway, if you plan to start your crypto journey, then you have to work on your knowledge improvement. If you are willing to learn new things, follow the latest trends, and constantly analyze the value changes, then you are the right person for this industry!
