Best Crypto friendly country? - page 3.

348Judah

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Quote from: Disney on August 01, 2022, 10:09:03 AM

What are best crypto friendly countries to live in? Meaning no taxes on crypto income, adequate banks, crypto as legal tender.
Thanks!

You could give it a trial on any of the listed countries from the link here talking about most crypto friendly economy in the world

https://bitcointalksearch.org/topic/most-crypto-friendly-economies-in-the-world-5406468 personally I can't vouch of their extent of being regulated or how their tax rate is being levied or free, you can make your own research to know more

ololajulo

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Quote from: Apocollapse on August 01, 2022, 10:26:22 AM

No tax: UAE, Monaco, Bermuda, etc you can search about a country that doesn't have any income tax.
Adequate banks: You can look in this site [1] and look if the bank is ban of Bitcoin
Legal tender: Only on El Salvador and Central African Republic currently.

You can't have all those option, you can choose at least 2 of them depends on you want.

[1] https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

Many countries in Africa does not input taxes, maybe because they tried the regulation the wrong way which resulted in closure of many exchanges and foreign exchange operating within the countries engage P2P transaction. Nigeria for example is has high cryptocurrency trade last but got traders not paying tax because of p2p. I never knew Monaco exist as a country asides the Monaco in France. Some of these islands have no regulations for crypto

|MINER|

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Quote from: Disney on August 01, 2022, 10:09:03 AM

What are best crypto friendly countries to live in? Meaning no taxes on crypto income, adequate banks, crypto as legal tender.
Thanks!

Already many peoples gave valueable information. I think only accepting cryptocurrency as legal tender does not make it the best cryptocurrency friendly country. We should choose the country by following the facts that make cryptocurrency user friendly. I will not repeat the facts because many have already mentioned them. Here is one picture you can see the green zone which are leading country in Cryptocurrencies .

bitterguy28

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Quote from: Disney on August 01, 2022, 10:09:03 AM

What are best crypto friendly countries to live in? Meaning no taxes on crypto income, adequate banks, crypto as legal tender.
Thanks!

at least you have already received complete names of countries that may favor your desire , so you can decide which of those will fit for your living .

but I think it is Portugal that will suits every bitcoin lovers , so try to check their country and may you find it peace for your bitcoin or crypto trading , holding living .

GFDhd

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Honduras has previously made bitcoin and other cryptocurrencies legal tender in special economic zones, and recently created a bitcoin valley to attract tourism and substitute digital economy, but their central bank doesn’t seem to be able to provide a guarantee cryptocurrency transactions yet. Hopefully this country can become the crypto friendly country ASAP.

funharb

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Australia is incredibly crypto-friendly with multiple successful exchanges like https://swyftx.com/au/buy/bitcoin/ blowing up over the last few years.

ChiBitCTy

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I think Malta is considered to the the most bitcoin / cryptocurrency friendly country there is. Some examples..

“ Malta’s strategy to become a global enclave for digital assets appears to be working, though lax regulatory oversight has raised concerns over money laundering and other financial crime.

Roughly $71 billion, or 60 billion euros, worth of cryptocurrencies has passed through Malta since the tiny Mediterranean state first adopted its “blockchain island” strategy in 2017, the Times of Malta reported Sunday. Although Malta has upgraded its crypto-focused regulations in recent years, financial watchdogs say the nation's anti-money laundering regime may have lacked proper protocols”. - https://cointelegraph.com/news/71b-in-crypto-has-reportedly-passed-through-blockchain-island-malta-since-2017

KennyR

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El Salvador is the right choice for a crypto friendly country. This is all because of the government's interest in making El Salvador a crypto nation. As of now it have made several plans and the progress isn't big. However a decision to make a nation with bitcoin is a challenge and president have taken the challenge against many criticism.

Another country I find it to be crypto friendly is Estonia. It is one of the early adopter of blockchain technology and the same have given it a path to be crypto friendly.

Finestream

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Quote from: cabron on August 01, 2022, 03:09:07 PM

If you spend BTC in the country then thats more than paying taxes. You'll be spending more than what its worth in the future esp in Japan as its a crypto friendly country.

What might be good to look for is a crypto friendly country with warm weather to retire. Asia is where you wanna go with very affordable cost of living like Thailand, Cambodia or The Philippines.

The good thing about crypto is that even if only few countries are crypto friendly these days, but you’ll know the adoption will grow eventually in the years to come. So that means, more adoption, higher price for bitcoin. And it will be more valuable too if you buy it at certainly low price and then hold, and you’ll only use them in the future for huge future profits, and of course spend them in countries where the cost of living is very affordable.

uneng

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Quote from: Bitstar_coin on August 01, 2022, 01:51:17 PM

Quote

PORTUGAL
* 0% tax on crypto trading
* 0% tax on foreign-sourced dividends
* 0% tax on foreign-sourced income
* 10% tax on foreign-sourced pension
* 20% tax on freelancing
* No minimum stay requirement
* Permanent residence can be granted after five years of residency.

SOURCE

Portugal's offers look relatively good in terms of tax, am not sure about UAE, Turkey, Switzerland, Singapore, etc tax structure on crypto, The website did not really give many details on that aspect, you can always do more research on them to be sure.

This is a good option for crypto adopters, especially digital nomads. Life quality is high, criminality rates are low, it's one of the cheapest western european countries to live, since the minimum wage there is low, while being a beautiful and historically rich country with mountains and coastal regions for every tastes. Furthermore you are inside EU and will have easy access to every other neighboor countries.

danadc

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I would say based on what I have been able to see in several threads that the best country where you can move well with Bitcoin is El Salvador, because it has the support of a government, the fact that a ruler accesses and believes in the technology and what it represents for I am a very intelligent person, who is above many rulers, this gives hope that an economy will develop that can withstand everything that comes, pandemics, economies on the floor.

Bukele has not only had to deal with the organizations that are against him for having Bitcoin, but also the majority of the people he leads, the support of a government is for me a sign of being very friendly.

rby

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Quote from: Wiwo on August 01, 2022, 03:00:29 PM

Quote from: Fivestar4everMVP on August 01, 2022, 02:24:43 PM

Quote from: Apocollapse on August 01, 2022, 10:26:22 AM

No tax: UAE, Monaco, Bermuda, etc

And as for legal tender, we all know that there are only but two countries in the world that have adopted Bitcoin as a legal tender, Nigeria sure is not one of those countries but my prediction is that sooner than later, the government of this country will definitely change their stance on crypto and might likely make it a legal tender.

I was waiting for you to mention El Salvador as the most cryptocurrency-friendly country because El Salvador happens to.be the first country to make Bitcoin a legal tender, and even went further to give citizens a $30 bitcoin raindrop to citizens that install the Chivo wallet, and this to a large extent shows how much crypt of friendly El Salvador is. But Nigeria on the other hand is far from being call a crypto friendly Nations.

El Salvador having made bitcoin it's legal tender should have fit very well on what Op wants. But I am not sure that El Salvador is tax free on cryptocurrency. Since bitcoin is a legal tender in El Salvador, it is therefore lawful to tax people on bit.
I do not understand why Op doesn't want to be taxed. If you work and being paid in bitcoin and you are required to pay tax according to your income, it should not be a problem to you then. You should be able to pay your taxes, unless you are over taxed.

hugeblack

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I do not know why all the responses above are considered taxes as the only obstacle. In the end, when you move to a country for crypto, you aim to achieve maximum profit. Therefore, countries with low income and relative stability will be ideal because you do not need to spend a lot of money with zero taxes.
There are also variables such as the ease of buying and selling Bitcoin, restrictions on foreign currencies and other things that need to be taken into account.

In general, why did no one mention El Salvador?

Agbe

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Quote from: Disney on August 01, 2022, 10:09:03 AM

What are best crypto friendly countries to live in? Meaning no taxes on crypto income, adequate banks, crypto as legal tender.
Thanks!

Do you want to naturalized in such a country? https://bitcointalksearch.org/topic/m.60254211 though a lot of country reject the use of bitcoin while the ones that adopted I believed is not taking tax. The countries I have heard that taken bitcoin as their legal tender is only two. El Salvador and Central African Republic and they are tax free Countries on bitcoin. But the ones that are trying to adopt bitcoin as their alternative currency on the digital space for exchange are contemplating on the adoption of the coin. They are still thinking of a possible way to collect tax from users of bitcoin in their Countries. I do not think they can collect tax from the users of bitcoin because when goods and services are exchanged between two or more persons, they users use direct payment method which is called p2p. And with that, government tax has been bypass. Most countries hate cryptocurrencies (bitcoin) because they will not benefit to the maximum they want.

cabron

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If you spend BTC in the country then thats more than paying taxes. You'll be spending more than what its worth in the future esp in Japan as its a crypto friendly country.

What might be good to look for is a crypto friendly country with warm weather to retire. Asia is where you wanna go with very affordable cost of living like Thailand, Cambodia or The Philippines.

Wiwo

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Quote from: Fivestar4everMVP on August 01, 2022, 02:24:43 PM

Quote from: Apocollapse on August 01, 2022, 10:26:22 AM

No tax: UAE, Monaco, Bermuda, etc

And as for legal tender, we all know that there are only but two countries in the world that have adopted Bitcoin as a legal tender, Nigeria sure is not one of those countries but my prediction is that sooner than later, the government of this country will definitely change their stance on crypto and might likely make it a legal tender.

I was waiting for you to mention El Salvador as the most cryptocurrency-friendly country because El Salvador happens to be the first country to make Bitcoin a legal tender, and even went further to give citizens a $30 bitcoin raindrop to citizens that install the Chivo wallet, and this to a large extent shows how much crypt of friendly El Salvador is. But Nigeria on the other hand is far from being call a crypto friendly Nations.

TheNineClub

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ok, this is a bit off the question, but the most friendly crypto country would be the one where you could use your crypto in everyday occurances. There are probably not many, or any (not including Salvador as it's a completly economicaly torne country). So everyday usage is the most important criteria.

Fivestar4everMVP

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Quote from: Apocollapse on August 01, 2022, 10:26:22 AM

No tax: UAE, Monaco, Bermuda, etc

I think Nigeria should be on the list too, I don't know about anyone else but I've never for once paid any tax on my crypto earnings, though banks are currently banned from crying out any kind of transactions related to crypto, and are also directed by central bank of Nigeria to block any account that's found carrying out any transaction that's crypto related.
And as for legal tender, we all know that there are only but two countries in the world that have adopted Bitcoin as a legal tender, Nigeria sure is not one of those countries but my prediction is that sooner than later, the government of this country will definitely change their stance on crypto and might likely make it a legal tender.

Bitstar_coin

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Quote

PORTUGAL
* 0% tax on crypto trading
* 0% tax on foreign-sourced dividends
* 0% tax on foreign-sourced income
* 10% tax on foreign-sourced pension
* 20% tax on freelancing
* No minimum stay requirement
* Permanent residence can be granted after five years of residency.

SOURCE

Portugal's offers look relatively good in terms of tax, am not sure about UAE, Turkey, Switzerland, Singapore, etc tax structure on crypto, The website did not really give many details on that aspect, you can always do more research on them to be sure.

Apocollapse

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No tax: UAE, Monaco, Bermuda, etc you can search about a country that doesn't have any income tax.
Adequate banks: You can look in this site [1] and look if the bank is ban of Bitcoin
Legal tender: Only on El Salvador and Central African Republic currently.

You can't have all those option, you can choose at least 2 of them depends on you want.

[1] https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

Topic: Best Crypto friendly country? - page 3. (Read 824 times)