Topic: List of countries that are encouraging the Bitcoin/Altcoin revolution (Read 184 times)

so true. adding a reason would indeed make it all the more understandable.

like me who listed Nigeria because I read a lot about the rapid progress there regarding crypto and digital money. even Nigeria was also one of the countries that first launched the digital currency naira (eNaira/cbdc). doesn't that mean blockchain knowledge there gets more attention. I even read in the news that (at the end of the article)"the Central Bank of Nigeria has also joined the list of emerging markets which are also betting on crypto assets in a bid to reduce transaction costs." (sourch)

 I think the future of crypto there is very bright. even in nigeria there is already some kind of nigerian blockchain association. which also played many important roles such as in introducing a code of conduct for virtual asset service providers (VASPs) there. ( Sourch)

while in Indonesia I also see a lot of government attention to the crypto space and the progress of the digital era is very high. Even the tax rate for crypto assets in Indonesia seems quite light. and there are even educational programs there, both related to blockchain and crypto, which were created to educate the people there to be more knowledgeable about crypto. and that is a form of government attention to its citizens which is considered a positive sign for the future of crypto there. but I think you know more about this Indonesia. so please correct me if wrong.

and I thank you for your correction regarding my mistake in writing the source link in my previous post. i have fixed it.

Russia and El Salvador are from a different continents, however, they know its necessary for them to use BTC and altcoins.
Hongkong should be one. although it's not a country but as of this moment they are already making a fuzz making Chinese altcoins pump high.


some other news. https://u.today/chinese-coins-narrative-gains-steam-check-out-these-altcoins

In Nigeria, not only is the government very enthusiastic about welcoming the presence of Bitcoin, the people are also competing to take part in being one of the many people in the world who store Bitcoin in their Wallet.
Nigeria once ranked first on the list of having the highest search rates for the phrases Cryptocurrency, invest in Crypto and buy Crypto worldwide.
Although Op has his own reasons for including Japan, Malta, Singapore, United States and Switzerland into the list of top 5 countries driving the Cryptocurrency revolution, I think Nigeria really deserves to be on Op.

First remove altcoins from the whole show because no country will want to encourage their useage without first considering bitcoin, Central African Republic and El-Savador were the two major countries that have adopted bitcoin as legal tender, Panama and Singapore were showing indication for adoption as well, but other countries were trying to develop and create thwir own central bank digital currency which is totally not cryptocurrency here but a digital version of fiat currency, some of these countries OP listed have aslo been two sided about bitcoin since they have once go against or some of it regions still insisting on crypto ban while others aren't.

I agree with you, although El Salvador and the Central African Republic are the first 2 countries in the world to accept bitcoin as legal tender, what is happening in Nigeria is worth learning and following. On the forum alone, I have seen them everywhere, and they are very active in spreading bitcoin and accepting bitcoin for their business.
Moreover, I think the countries that encourage bitcoin are mostly 3rd world countries, not developed countries like OP mentioned.

Nigeria deserves to be on the list more than you think, local bitcoin exchanges are growing in numbers and there are so many people involved with Bitcoin in Nigeria, only the old people are left out in the country because they don't know what Bitcoin is, the Ban as been lifted like you said, this is why I dare to display my business sign board with Bitcoin payment is accepted here.

I think giving some reasoning for your list (and other lists being shared here) would be better instead of just listing names. If we want to be stricter we also need to make a standard on what do we mean by encouraging revolution. Does doing research on cryptocurrency technology counts? Does having an education program focused on crypto count? What is on the opposite end of encouraging the revolution, is it banning Bitcoin from being traded, or blocking any access to crypto information such as Bitcoin whitepaper? Etc. If there is no clear line then everyone will arbitrarily agree on one thing and disagree on the other. So far though, what I can see is that most of us seem to limit the encouraging part from a trading/sale perspective.

I think your article code is broken. You probably want to add the title instead of the URL of the publisher. That aside, that article basically claims that it is easier to increase the numbers of crypto users in Indonesia because people spread the news quickly and most people are eager to try crypto since there is a lot of credit that they can use to trade/buy it. It is implied that the regulation is not that strict and people can trade crypto easily. A lot of countries can fit this standard IMO, not only Indonesia.

Who says bitcoin is illegal in Nigeria? The government has refuted that policy since last year. There’s been a lot of bitcoin awareness coming from Nigerians in this forum. Even I accept bitcoin as payment in my store and I haven’t been in any trouble with the law. Nigerian crypto exchanges like Roqqu, Patricia e.t.c are the leading exchanges in Africa. I think Nigeria deserves to be on the list.
My list goes
-El Salvador
-Central African Republic
-Nigeria
- Venezuela
- Ghana

El Salvador should be on top of the list I have it on top and they are the first country that adopts Bitcoin as their national currency and their representative even wore a Bitcoin-inspired outfit to show to the World that they are one proud country adopting Bitcoin, nothing beats this in terms of adoption, there success in adopting will fave the way for countries who plan to adopt Bitcoin as their currency.


Miss El Salvador dons golden bitcoin outfit at beauty pageant

This point is pretty hard to defend, I have never traveled to other part of the world so I don't know how big  their Bitcoin adoption is, but I can talk about my country, the Bitcoin adoption rate in my country is very high among the youths, some are fully based on P2P business on exchanges as means of making money per day and so many people are promoting Bitcoin in their stores as well.

The Bitcoin adoption rate of other countries are based on the data we are been given by the internet, there is no way to know which country deserves the first rank on the list or the second rank.

The countries that should be here are El Salvador and Central African Republic. They are  the two  countries which the government has officially accepted bitcoin and not like the others which the government are either against it or trying to control it.
With individuality and group's the countries you listed and others would be topping.

You can't include Nigeria that has banned the used of cryptosystem in the country, is the people of the country who is doing it secretly because the government do not owed individual computers. But talking about the countries like El Salvador and Vietnam I will agree because these countries that has put evidence the boost the market cap of bitcoin. Recently a Ghanian president is advised to adopt bitcoin as one of their exchange currency constitutionally but his also considering that bitcoin may bring down their economy power if carefully not projected for proper using by the citizens.

Somehow I prefer to see your list than Op. Putting El Salvador in the first place fits perfectly with the revolution that was carried out as the first country to recognize Bitcoin as legal tender.
There are some countries that do not yet have clear provisions regarding Cryptocurrencies, while others like those on your list have made rules that allow bitcoin to be used as a currency or commodity asset.

Just as the op stated in the opening paragraph about countries willing to let Bitcoin thrive for different reasons, I think they are also okay with the fact that Bitcoin can work hand in hand with their local fiat just like El Salvador did.
 Well, just like others who have dropped their own list of countries who are championing the course of Bitcoin, I'd like to add a few countries.

- Singapore
- Switzerland
- The Netherlands
- Vanuatu
-Cyprus and
- Bermuda
 These countries have a positive outlook towards Bitcoin and are permissive towards it's growth. Especially Vanuatu where they recently unveiled the Satoshi island .

I think you should include El Salvador on the list of countries driving the Bitcoin/Altcoin revolution, El Salvador is a country that adopted Bitcoin as legal tender. The Central African Republic needs to be included under El Salvador, while many other countries with the world's largest economies are still wary of the risks from crypto assets, the Central African Republic surprisingly formalizes Bitcoin as a means of payment.
Canada is also worth considering, this country has a friendly approach to Bitcoin. Canada views Bitcoin as a commodity that can be traded by regulators in that country.

i doubt if it is japanese. although Japan is known for its rapid technological advances and is always at the forefront of making further advances regarding future technology. but when it comes to crypto. isn't it that in Japan the crypto tax is very high and it is very burdensome for users there. some exchanges even closed their branches in Japan because of the lack of trading activity there due to too high taxes.

i prefer my own list ie
-El Salvador
-Central African Republic
-Indonesia
-Russia
-Nigeria

actually I also want to include the United States in the list. But considering the number of Fud from there. so I discouraged. regulations there are still too strict against crypto.

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sourch:perkembangan cryptocurrency di indonesia sangat pesat/

I have seen many African members posting about their activity on this forum. So I think African countries like Nigeria is deserve a position in top 5 countries who encourage people to adopt bitcoin. Though I am not sure about the government, but their government is not stopping them from using bitcoin so that is why they the adopting numbers of bitcoin users in Nigeria is growing. Which is a good sign for Cryptocurrency as a whole.

Even if your country encourages Altcoins, you still have to exercise caution investing in them because Altcoins never be as reliable as bitcoins are. Don't say that because your country encourages you to use Altcoins then you invest in any altcoin you see, that will be bad practice. Bitcoins should remain your first choice when you consider an investment in cryptocurrency.

We should probably reconsider if we think countries such as the United States are on top of the list. For sure they have registered centralized exchanges there and also miners but the US SEC and other regulators have been agressive lately. Too much regulation could also stifle innovation as some crypto enthusiasts say.

Aside on all the written country above. Vietnam is one of the country which government is willing to cooperate and adapt on the use blockchain in general. I’m involved on Blockchain project that based on Vietnam and they are receiving a good support from their government by doing a legal framework for digital asset.


They are aiming to become the next hub for crypto and blockchain lover by preparing those legal framework.

Source:https://cointelegraph.com/news/vietnamese-deputy-pm-calls-for-building-legal-framework-for-digital-assets?utm_source=Telegram&utm_medium=social