Topic: Best Crypto friendly country? (Read 825 times)

I think some of the countries you have mentioned are countries that have no plan on regulating crypto at all. I k is there are countries that don't care about crypto stand in there region so they are countries not crypto regulated. There are many african and North american countries that are crypto friendly especially those ones that find a big opportunity in crypto without depending on fiat currency.

First of all that is a very serious question and as you can see they give you some well-known suggestions, but then it is an investigation that you should do yourself, even El Salvador, it should not only be the first one that one should mention, for simply having the bitcoin as a payment currency, so, is to analyze the economic and social environment of each country and based on that you should forge your decision.

Anyway, one should have the "courage" to make any country friendly, mind you, you have to respect the laws of each country, but bitcoin must have in its users the thought "let's make this country become friendly with bitcoin".

Those countries already have the title to be a bitcoin friendly country so for them, there is no need to rush and maybe some of them are planning to not make btc a legal tender at all because the perks that they have now are still close to it and there will be no big differences at all. On some countries where bitcoin is not yet a legal tender, they even have bitcoin atm's now and there are shops on them which accepts crypto payments.

It will surely be allowed by your government as long as cryptos are recognized and not banned. They can also shop online if there are no shops like that on their country. See? There is no real need for making crypto as a legal tender.

Rather than crypto friendly countries, it is good to find the crypto user friendly countries. As of now most of the African countries surrounding Nigeria have the restrictions on cryptocurrency usage from the government, yet it is easy to make transactions on your needs. In most cases people who have to carry a large volume of cash for purchase from other countries prefer to take cryptocurrency.

People from African countries reach Dubai for purchase and nowadays many are used to cryptocurrency which is really a change of minds making cryptocurrency an user friendly system amidst government restrictions.

I know African countries will be the best cryptocurrency-friendly environment since that region has the highest rate of unbanked citizens who will embrace crypto as the best alternative and with low or zero tax on cryptcurrency related transactions. Unlike other developed countries that already have a well-developed tax returns mechanism.

Nigeria and some parts of Africa are cryptocurrency friendly despite it has not been adopted by the government.  But the rate citizens show interest in cryptocurrencya is very high, they make use cryptocurrency within themselves whether the government likes it or not, Africa countries should on the lost.

Please can you share a link to any new as regards to Hondura's Bitcoin adoption, even though it is not made public yet by the government. Am curious to know the level of development within that country, I have picked an interest in global Bitcoin adoption lately and my interest borders around countries that adopt Bitcoin as a legal tender and what their intentions to boost using Bitcoin and most of them e.g El Salvador have boosted the tourism industry with the help of Bitcoin adoption.

The current era has seen the highest development among cryptocurrencies. The whole world knows about it. Considering its payment convenience and cost aspect, many have chosen it as their preferred payment method. I would like to mention here the names of some countries that are crypto friendly with the use of crypto. They are El Salvador, Portugal, Germany, Luxembourg, Estonia, Singapore, Malta, Canada.

They have no sympathy for crypto, so why would they accept it? This is crazy. With that tax rate, they will cause more investors to seek tax evasion rather than comply, which will backfire and create gaps in their tax income.
Indian investors will use DEX and p2p trading rather than trading on centralized exchanges. Hope that other countries don't do the same thing as the Indian government.

Crypto-friendly countries have the opportunity like El Salvador and the Central African Republic to adopt Bitcoin as a legal tender. It is possible that crypto-friendly countries do not want to be too quick to announce the legal status of the tender before all the preparations are really ready.
I think developed countries like Germany and other developed countries understand so much about the future of Bitcoin that one day I feel sure they will make Bitcoin a legal means of payment.

Based from the list, I only know El Salvador having bitcoin as legal tender. As the OP is asking which countries are having btc as legal tender also. Others may have loose regulations when it comes to crypto but the OP should look into these countries closely if he is planning to visit in one of them. They have their own protocols when it comes to crypto and you also don't know how wide is the coverage of the crypto usage among its merchants.

I conducted a search on your topic and the countries that came out of my search was;
   . Singapore
   . Switzerland
   . Netherlands
   . El Salvador
   . Vanuatu
As an avid crypto trader/investor, the above listed country are the crypto-friendly countries that could be perfect for you as they embrace the inherent volatility of cryptocurrencies. Those five countries have a good reputation being the most crypto-friendly country.
 More information is contained here: https://learn.bybit.com/investing/most-crypto-friendly-countries/

What I mean by a crypto friendly country is one where I can use cryptocurrencies freely. Where there will be no negative behavior on crypto. Where crypto will always be viewed positively. From that point of view, I think El Salvador as the most crypto-friendly country, besides some other new countries have been added but they can't be called friendly yet. Maybe their position will change in future.

Only El Salvador and the Central African Republic have legalized Bitcoin as a legal payment. Germany, Singapore and other countries that fall into the category of Bitcoin-friendly countries, but have not legalized Bitcoin like the two countries (El Salvador and the Central African Republic).

The Central African Republic as a mineral-rich country is the second country to legalize Bitcoin even though their economy is in a complicated situation due to civil conflict. But they adopted Bitcoin which was announced on April 27th.
Meanwhile, Singapore is also reportedly experiencing some difficulties after Hodlnaut halted withdrawals amid liquidity problems and they have also laid off a number of workers. Hodlnaut is a crypto lending company in Singapore.

Please choose, El Salvador or Central African Republic.

30% tax is tantamount to robbing crypto users and this is a huge tax. India really doesn't support crypto completely. even the central bank of india wants to ban cryptocurrencies which was presented at the parliamentary meeting. Reserve Bank of India (RBI) is of the view that Cryptocurrencies should be banned as it has a destabilizing effect of cryptocurrencies on the monetary and fiscal stability of the country. Nirmala Sitharma's statement regarding the adoption of cryptocurrencies and platforms that allow for innovation on it in the country of bollywood.

30%? You are talking about the government of India, they accept bitcoin but then tax upto 30% on people who earn in crypto. 30% is too high and shows that the Indian government is not very sympathetic to cryptocurrencies. They are just trying to discourage investors from using cryptocurrencies rather than encouraging them.

According to what I know if you are looking for a comfortable place to live and not taxed on crypto income, namely:

1. El Salvador: Being the first country to adopt Bitcoin as a legal tender, of course El Salvador will exempt crypto taxes for its residents.

2. Belarus: In 2018, Belarus has legalized all crypto-related activities and exempted its perpetrators, individuals and businesses, from taxes for five years. That means, from 2018 to 2023, there will be no taxes at all for players in this industry. This is done to support the digital economy in the country.

3. Germany: While cryptocurrencies are not completely tax-free, Germany has interesting regulations that allow investors to avoid taxes. In Germany, crypto assets are not seen as capital assets, so, if residents hold crypto for more than one year, then they will be one hundred percent tax-free.

4. Portugal: Portugal is also the best place to get tax freedom on crypto assets. As of 2018, crypto transactions and investment activities for individual investors will not be taxed at all. And for business people in this industry, there are still tax rules.

5. Puerto Rico: Not part of the US, Puerto Rico does not follow federal tax laws, but instead has its own laws for crypto tax matters. Residents in Puerto Rico only pay much lower income taxes than the US federal income tax rate.

Perhaps here are 5 of the parts of the country that are very crypto-friendly and tax-safe.

Sorry to call your attention and as well trying to go deep into this or deviating from this topic..
I will simply elaborate why all is happening at a time. About last years the Nigerian Government launches e-Naira.
eNaira is a Central bank digital currency (CBDC) issued and regulated by the Central Bank of Nigeria. Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.

Source


Before then youth already gotten used with bitcoin transaction and banks were dealing directly to personal accounts; that is to say, transactions around us with trading initiating payments from exchange to directly to our local accounts. At this points the government at their own selfless and selfish gain restricted transaction associated with local bank accounts but do not place a total ban in the country to deal with bitcoin, anyone can transact, buy goods with bitcoin and even most of mall and gas stations accepts bitcoin and many more. So this why we said is a free country and is tax free.

Days ago i boarded a vehicle and paid with bitcoin, i was so surprised seeing a Bolt driver saying " Boss you fit pay me with bitcoin if you get am for your wallet". Now what triggers this was as a result i wanted to pay him with Naira and at this point i brought out my phone to make a local bank transfer to  him immediately he sighted directly to phone and saw the Trustapp and Binance App, he asked if i trade bitcoin and i said yes. He responded 'WOW"! then next he said 'boss me 2 dey receive bitcoin as payment for my services o'. I just said send me your address lemme pay you.

That was how it goes!

The imposition of taxes on commodity assets will indeed provide a plus for the development of the country and increase other income so that the country will benefit more. there will be pros and cons about taxing crypto and this has become a common thing, depending on how the taxation system and the amount of fees are applied. The government should also receive input from the public on the proper way to collect taxes.

Another positive side for the imposition of taxes on crypto will increase the legality of crypto as a recognized and legal commodity asset to be traded in the eyes of the law. The development of taxes may adjust the use of society in the future so that tax collection regulations will be more flexible and not burdensome to one of the parties affected by the tax.

As said taxation is the revenue that helps in nation building, but the government should know how this can be done without affecting its citizens. There are countries that used to tax income in cryptocurrency, and there is no tax on capital gains as well as on trading. This way taxation makes people use cryptocurrency commonly than the countries that tax cryptocurrencies more than 30%

There are a lot of countries that accept cryptocurrencies and use them but the claim of no taxes is something I have never heard of before. Taxes are an important part of maintaining government and maintaining the stability of a country, and paying taxes is the duty of each of us. That's how we contribute to nation-building, as long as the tax rate is reasonable with people's income.

I really don't have enough experience to stop in various countries that adopt bitcoin as a means of payment considering that each country has different regulations. As long as I'm in Indonesia, crypto is friendly enough for exchanges. Either bank or individual p2p is enough to make me comfortable and fun using cryptocurrencies.

Are we seriously not considering El Salvador at the very top? I mean they are the first nation to make it legal tender ever, how much more crypto friendlier can you get? I love all nations that are not first world nations which uses it as a way to get out of poverty, Pakistan, India, Malaysia, Turkey, Senegal, Nigeria, Latin-American ones, and even smaller European nations.

These are not rich nations at all, maybe there are rich "people" in them, but the general public is not rich, and they go into crypto like a flock and they keep grinding very hard. Give me a thousand people who are active and working as a staff and I guarantee you that I can create the greatest crypto company that the world has ever seen, only because they are way more interested in it for sure.

I don't think there is one country that meets your expectation criteria, El Salvador, which has stated that bitcoin is a means of payment, maybe there is still a tax even though it's only 0.0xx%, the more developed the crypto world is, of course, every country will tax its owners, not automatically. directly to the individual but taxed when trading crypto coins on the exchange

indeed for now there is no country with the most crypto-friendly and where we can use crypto in everyday life except Salvador.

but I believe that someday in the future many countries will adopt and legalize crypto as a legal medium of exchange.
but it is impossible if there is a country with the most friendly crypto, because the more usage in a country, the more taxes applied to crypto as a source of state income.

I don't think there's a single country that would meet all the requirements, and IMO countries where cryptos aren't regulated can actually be crypto-friendly as well (because the taxation wasn't figured out yet and because it's not technically a crime to use cryptos for any means that aren't themselves illegal). Many countries were mentioned, but you should really consider other factors, such as ease of doing business, ease of getting into the country and getting a residence permit to stay there, how democratic/authoritarian the country is, how economically and politically stable it is, how safe it is in terms of violent crimes, and other things like that if it's for literally relocating there.

El Salvador is currently the best country which you can say that is crypto friendly . They are not only limited to being friendly, rather they also support the cryptos specifically Bitcoins.
But OP you can keep cryptos with you while you live or roam in any country.
You should thank to the decentralised nature of the Bitcoins for which, no government can control it and therefore no one other than you can know that how many cryptos or Bitcoins you have.
If you need to cash out of some Bitcoins, then do P2P deals. As easy as that.

Currently there are only 2 countries that adopted bitcoin or cryptocurrencies as legal tender, it is El Salvador and Central African Republic (CAR). There is no country yet that pass all those 3 criteria but for me Singapore is the most crypto-friendly country. You are not required to pay taxes if you are trading crypto unlike other countries. Only businesses there that is related to crypto are required to pay tax to the government.

Crypto assets are becoming one of the investment assets that are quite in demand today, although there are still many countries that are pro and contra towards crypto, but the development of crypto is increasingly widespread and even now countries like El Salvador are starting to adopt bitcoin or crypto as a whole in their financial economic systems, according to the latest data from coindesk, there are several countries that are quite friendly to crypto and eventhere are even countries that exempt taxes on crypto transactions carried out by users, here is a list of countries that are friendly to crypto:

1. Portugal
2. Holland
3. Germany
4. Slovenia
5. Singapore

I wondering how it's possible the Nigerian banks doesn't allow Bitcoin, but at the same time the business can accept Bitcoin as payment? Why does the business and banks have different laws? I think the government itself who agree or disagree to accept Bitcoin.

But I would say Nigeria isn't a free country about Bitcoin usage since you're still get limited since the bank still ban Bitcoin related transactions.

That unfortunately won't stay for long as Portugal finance minister announced few months ago that they plan to start taxing crypto so it will be interesting to see how will that affect many who moved to Portugal just because of that. As a matter of fact I know a couple of people that moved to Portugal from other EU countries just because of that (they work in crypto industry) and they weren't particularly happy with that announcement. You can read more about it here.

I am surprised that more people didn't mention UAE (more specifically Dubai) as from what I saw that's the place to be if you wanna live off crypto (if you can ignore the awful climate).

If basically looking into tax, we can consider Nigeria as a country live freely without a obstacle though it requires trading on p2p to receive local currency but you can trade, and use crypto. Most of the shopping mall, Hotels, Gas station and  many more accept cryptocurrencies.


For all then Portugal remains the best if having all these feature. One can live freely without any tax payment and government restrictions

If an individual needs to hold his/her Bitcoin for are period of 1 year to be tax free then such country do no deserve to be on the list of bitcoin friendly countries. Because as for me, in as much as I don't know much about El Salvador and Central African Republic, for the fact that Bitcoin was adopted as a legal tender and can be used for easy purchase of goods and services, then I strongly recommend that these two are the most Bitcoin friendly countries for now

According to the media I searched for and I asked online friends, they all said that for now Germany is a very friendly country towards crypto currency, this European country also allows the domestic banking industry to be able to take advantage of crypto currency, the German state has announced that they will not collect taxes for long-term gains for cryptocurrencies, according to the media I searched Singapore is the second country that is friendly to cryptocurrencies.

From the information I found the best crypto friendly countries are:
 Portugal
 Switzerland
 Germany
 Singapore
 Malta

There are several countries that exempt taxes for crypto trading. so we can be more comfortable in crypto trading. I know there are several countries. and to complete it I also looked it up from several news sites to make sure. these countries are as follows :
1. El Salvador
2. Belarus (The government has exempted taxes on crypto for five years from 2018 to 2023. and from 2023 a review will be carried out. whether crypto will be taxed or not henceforth.)
3. Singapore
4. Cayman Islands
5. Switzerland (But for crypto mining taxes it turns out to apply in this country.)

while in my country Indonesia. crypto tax has been applied.
in fact there are many more countries that do not collect taxes. but not completely tax free. so i didn't include it like portugal, germany and malaysia. Because in this country there are special conditions to be completely free from taxes. such as the user must hold the crypto asset for a year. and some other special requirements that are different for each country. so in my opinion the most friendly and comfortable is in the list of 5 countries above on the list.

but actually almost all countries are very comfortable and friendly for crypto users. because the enactment of taxes is actually a sign that crypto is starting to be accepted in the country. so it has started to pay close attention to crypto. maybe for china is an exception. I don't know much about China. but it looks like it's not crypto friendly there.

According to open sources, the most optimistic about bitcoins and cryptocurrencies are:
Singapore
Australia,
Brisbane City
U.S.
state of California
Sweden
New Zealand
Liechtenstein
Portugal
Germany
Malta
Switzerland

Each of them has different conditions, if you are going to move to one of these countries, you should study the conditions in each of them.

Despite this, the countries with the largest number of cryptocurrency holders are as follows:
India 100 million
US 27 million
Russia 17 million
Nigeria 13 million
Brazil 10 million

actually all countries were friendly to bitcoin at first, after bitcoin became the talk of one country, one country levied taxes on its owners, and it is possible that countries that are currently still free of taxes and those related to crypto will one day be the same as countries that have applied taxes

I didn't visit many countries myself and what I know mostly comes from the articles I saw and the news we always hear about other countries which can be truth or lie, but if you ask me about all the countries I saw I would say United Arab Emirates is a bitcoin-friendly country between the countries I visited because in UAE you can use the bitcoins for buying anything you want and there are bitcoins there also in many supermarkets you can pay with bitcoins, one of my friends bought an apartment there and he paid the money with bitcoin, while as far as I know, they won't take tax from you while using bitcoin.

Cypherspace.  The CryptoNet.  Native currency: BTC.

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

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

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 .

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 .

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.

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

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

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

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.

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.

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

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