Most crypto-friendly economies in the world

Cryptock

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Quote from: Zilon on August 11, 2022, 05:00:50 PM

Quote from: Despairo on July 17, 2022, 04:43:18 AM

The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol. The fact they're encourage more Bitcoin adoption since their government already suggest people to use Bitcoin and their wallet, also all businessman already accept Bitcoin as an alternative payment. If those both countries aren't friendly to crypto, there's no way in the hell they will accept as legal tender.

United States is about 467 times bigger than El Salvador which implies no matter how strict the regulations in the united states becomes on Bitcoin and other crypto currencies it is impossible for El Salvador to overtake them in Bitcoin trading volume despite their adoption and hodlings, El Salvador is the smallest country in Central America and is smaller than the state of Massachusetts. They can't even top the chat of crypto-friendly countries For CAR they are among the poorest countries in Africa and obviously can't fit in the list

The power of USA is unmatchable.
There is no end to it. People love going to states. It's their dream to go to the America and live there. They have been able to make an impact on the world that is mesmerizing - there is something really kool about USA

Zilon

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Quote from: Despairo on July 17, 2022, 04:43:18 AM

The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol. The fact they're encourage more Bitcoin adoption since their government already suggest people to use Bitcoin and their wallet, also all businessman already accept Bitcoin as an alternative payment. If those both countries aren't friendly to crypto, there's no way in the hell they will accept as legal tender.

United States is about 467 times bigger than El Salvador which implies no matter how strict the regulations in the united states becomes on Bitcoin and other crypto currencies it is impossible for El Salvador to overtake them in Bitcoin trading volume despite their adoption and hodlings, El Salvador is the smallest country in Central America and is smaller than the state of Massachusetts. They can't even top the chat of crypto-friendly countries For CAR they are among the poorest countries in Africa and obviously can't fit in the list

jostorres

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Quote from: Kadal Ijo on August 10, 2022, 02:24:12 AM

The presence of cryptocurrencies is a good solution for global and financial transaction systems, we are not worried to store assets and transactions because blockchain technology is fast and safe, especially to send bitcoin with large amounts now the transaction fee is no more than $ 3, even cheaper than If we send Ethereum or other Altcoins.

That is something we would definitely care about because having cheaper transactions, but that is not the topic here. The topic here is a horrible list that is a purely fake one that shows which nations are the most crypto friendly ones.

The list is a fake horrible one because the only nation, the first nation that turned bitcoin from a cryptocurrency into a legal tender is not even on the list of "most crypto friendly nations" and just that alone shows how wrong the list is. I am not saying that some of them do not deserve to be there, but nations like Brazil, Turkey, India, and most importantly El Salvador should be there based on how friendly they are.

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CryPTPCurrencies have been proven to help many things, the economy increases and many new millionaires from the creative industry Cryptocurrencies, with this fact that of course the state must care to immediately legalize cryptocurrencies so as to improve the welfare of citizens.

Cryptomultiplier

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Ever heard of Liberland? They are a very small nation just between Croatia and Serbia?
The fact that their official currency is bitcoin is what blew my mind, also Puerto Rico. I learnt recently they support using bitcoin to purchase assets like a fully furnished home. Can you believe that?

https://www.simplilearn.com/things-you-didnt-know-about-bitcoin-article

Mate2237

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My problem with this countries is that, they are only bitcoin friendly, in other words they are only aware of the currency but the uses of the currency is still very low. I do not think people are using bitcoin to buy what they want. That is, the uses of bitcoin is still limited in the countries the OP listed above. No country in the world has used bitcoin maximum to the core but only few users and even these few users can not use btc to buy the daily purchase stuff in their localities. Mostly food items and clothing items. Or use it to pay transport to whenever you go out from your house.

coupable

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Quote from: coupable on August 07, 2022, 03:19:37 PM

In El Salvador in particular, the country encouraged the use of bitcoin by launching a bitcoin wallet application, and everyone who downloaded the application received a $30 reward. In one study comparing the number of residents who downloaded the wallet and did not continue using it after receiving the reward, and those who continued to use the wallet, the difference was too large to say that El Salvador is a crypto-friendly country in the practical sense.
I do not have accurate information, but I do not expect the situation to be any better in the Central African Republic .

They decided to take a strange path. They accepted bitcoin as a means of payment, but launched the state-owned shitcoin, Sango Coin. Reminds me of Venezuela with their Petro. Such countries will not have a particularly strong influence on the bitcoin exosystem, well, except for additional speculation, and the adoption itself promotes this much less. In my opinion, 10,000 new ATMs somewhere in America or Europe, for adoption, will have a greater effect than the recognition of bitcoin as a means of payment in 5 other countries such as the Central African Republic.

The most noticeable thing in the matter of adoption is that the countries that announce adoption are a country that is very close to collapse with an economy damaged by the failed policies of successive governments. The adoption of Bitcoin is like a dance of a slaughtered rooster as a last attempt to contain the bad situation and avoid the people's reaction. Despite this, these countries do not allow the use of Bitcoin outside the scope of financial supervision, while the philosophy on which Bitcoin is based is to free people financially from the power of banks and governments.

Kadal Ijo

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The presence of cryptocurrencies is a good solution for global and financial transaction systems, we are not worried to store assets and transactions because blockchain technology is fast and safe, especially to send bitcoin with large amounts now the transaction fee is no more than $ 3, even cheaper than If we send Ethereum or other Altcoins.

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Quote from: Cryptock on August 07, 2022, 06:45:59 PM

Developed countries are progressing because they want people to progress and people pay taxes and help the country to progress...
And both help each other in uplift and progress.
My country in not a crypto friendly - and they there is only 3% of total population who is aware of crypto.

They are also the first ones to realize that there are a lot of money going inside crypto world since they are big nations.
I mean USA can't just say "we ignore all people who go into crypto", that would be tens of billions of dollars going out of circulation and going into crypto and if they do not make any money from it, then it will create a lot of trouble for them as well.

Best thing to do would be making sure that they tax it and follow it carefully, and IRS getting their money. If they do that (which they are doing now) that would allow the nation to not have any loss in tax income, and since they are filled with people who are super rich, it makes sense to tax them for another thing.

suzanne5223

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Quote from: bestcoins1 on August 08, 2022, 07:30:09 AM

Quote from: lkNiknezhad on August 08, 2022, 04:36:34 AM

My feeling is that Portugal is probably one of the most crypto-friendly countries in the world. And the Portuguese Tax Authority (PTA) does not consider capital gains generated from the sale of cryptocurrencies to be taxable

Now try to check in several other countries apart from Portugal. I'm sure there are other countries that are crypto friendly and don't tax the sale of cryptocurrencies. Because the rules regarding taxation are definitely different in every country that has not adopted Bitcoin like El Salvador and the Central African Republic, because that is something that is already different from what happened in Portugal.

Although the tax implementation of the Portuguese may affect sellers at some point when they are selling at a lost price but it somehow encourages long-term holding.
Having said that, I believe Portugal should remove from the list of crypto-friendly economy countries list because they recently banned crypto-related exchange within their country due to the fear of illicit transactions in crypto.

ChiBitCTy

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Really not much of a surprise looking at this list of leading countries, which also happen to be on the leader board for most progressive nations on the planet (which is a good thing!).. kind of surprised to see the US loose it’s lead, as I don’t feel like I hear much about state regulations differing from state to state here, but perhaps I need to do a little more digging when it comes to educating myself about that.

Cryptock

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Quote from: bestcoins1 on August 08, 2022, 07:30:09 AM

Quote from: lkNiknezhad on August 08, 2022, 04:36:34 AM

My feeling is that Portugal is probably one of the most crypto-friendly countries in the world. And the Portuguese Tax Authority (PTA) does not consider capital gains generated from the sale of cryptocurrencies to be taxable

Now try to check in several other countries apart from Portugal. I'm sure there are other countries that are crypto friendly and don't tax the sale of cryptocurrencies. Because the rules regarding taxation are definitely different in every country that has not adopted Bitcoin like El Salvador and the Central African Republic, because that is something that is already different from what happened in Portugal.

I see there are a lot of countries which are letting safe trading and people are happy too because they are legally allowed in their country.
This helps them play with relaxed mind and they have authorities to support them. Life is beautiful in developed countries.

bestcoins1

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Quote from: lkNiknezhad on August 08, 2022, 04:36:34 AM

My feeling is that Portugal is probably one of the most crypto-friendly countries in the world. And the Portuguese Tax Authority (PTA) does not consider capital gains generated from the sale of cryptocurrencies to be taxable

Now try to check in several other countries apart from Portugal. I'm sure there are other countries that are crypto friendly and don't tax the sale of cryptocurrencies. Because the rules regarding taxation are definitely different in every country that has not adopted Bitcoin like El Salvador and the Central African Republic, because that is something that is already different from what happened in Portugal.

lkNiknezhad

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My feeling is that Portugal is probably one of the most crypto-friendly countries in the world. And the Portuguese Tax Authority (PTA) does not consider capital gains generated from the sale of cryptocurrencies to be taxable

Cryptock

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Quote from: arallmuus on August 07, 2022, 03:35:06 PM

Quote from: ?? on ??

That is why El Salvador will not be in such ratings, because all of its adoption is only on paper, but in reality no one needs it. The Salvadorans do not see any practical benefit from this adoption.

Yeah its pretty much nothing more than a president that is keep on hyping this all over the twitter but its a start, a small start towards the global adoption whatsoever that they dreamed of but its just a bad one in reality because their country is literally not prepared for it. Anyway, imagine Germany suddenly announced that they are accepting bitcoin / crypto as one of its legal tender then it will be completely a different story compared to what El Salvador did.

Developed countries are progressing because they want people to progress and people pay taxes and help the country to progress...
And both help each other in uplift and progress.
My country in not a crypto friendly - and they there is only 3% of total population who is aware of crypto.

arallmuus

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That is why El Salvador will not be in such ratings, because all of its adoption is only on paper, but in reality no one needs it. The Salvadorans do not see any practical benefit from this adoption.

Yeah its pretty much nothing more than a president that is keep on hyping this all over the twitter but its a start, a small start towards the global adoption whatsoever that they dreamed of but its just a bad one in reality because their country is literally not prepared for it. Anyway, imagine Germany suddenly announced that they are accepting bitcoin / crypto as one of its legal tender then it will be completely a different story compared to what El Salvador did.

coupable

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I sincerely don’t understand why El Salvador should be added to the Most crypto-friendly economies ranking? Or maybe the Central African Republic? In El Salvador, almost no one is interested in bitcoin. Its real use comes down to admiration on the internet, in style: look how great it is that El Salvador has adopted bitcoin as a means of payment. And what is the result? What as a practical application?

I agree with you very well regarding the above two examples. Legalizing Bitcoin as a recognized payment method does not mean that this has a direct consequence in reality. Originally, these are poor countries and the rate of schooling is very low, so how do you expect the general public to use advanced technology?
In El Salvador in particular, the country encouraged the use of bitcoin by launching a bitcoin wallet application, and everyone who downloaded the application received a $30 reward. In one study comparing the number of residents who downloaded the wallet and did not continue using it after receiving the reward, and those who continued to use the wallet, the difference was too large to say that El Salvador is a crypto-friendly country in the practical sense.
I do not have accurate information, but I do not expect the situation to be any better in the Central African Republic .

m2017

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Coincub collected diverse statistical information about many countries, but something was not indicated in their report. In my opinion, this spreadsheet/picture doesn't contain the most important thing that can be useful for every reader of this forum: what kind of tax must be paid on the sale of cryptocurrency in one or another country from the list.

savetheFORUM

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This rating is complex, and not only based on taxation. These ratings are based on such factors as the volume of trade and mining, the development of the legislative framework, institutions, the financial sector and central banks in the country.

To rank it with economical power and governmental prowess doesn't really make sense to me. I mean think about it, we are not seeing El Saldavor, the nation that made it a legal tender. I am not saying that you should ignore all the names there, some nations there are definitely good and there is no denying that. But at the same time, we should realize that many names are missing as well.

Nobody says that these names are bad, these names are good of course but at the very least we should know how it could miss some of the most important ones. India, El Salvador, Turkey, Nigeria all these are greatly friendly but not huge economically hence why they were left out.

TimeTeller

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Quote from: TheWolf666 on August 05, 2022, 03:37:22 AM

Dubai in UAE is the best place, 0% taxation for companies.
Guess why it is not in the list!
France number 5 with 60% taxes on gains? That must be a joke.

This rating is complex, and not only based on taxation. These ratings are based on such factors as the volume of trade and mining, the development of the legislative framework, institutions, the financial sector and central banks in the country.

This is written in the article, as part of the explanation of the methodology:
-
https://coincub.com/ranking/the-coincub-q2-global-crypto-ranking-categories-2022/#sp_h_148310

We can understand the reasoning of this list if we read the explanation of why such rating.
This is not only about taxation but as we can see, they have several factors that they rated.
But I noticed, in the list, we can see that these countries are countries that have good economies.
Which translates that progressive countries are more open with crypto market.

Cryptock

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Quote from: TheWolf666 on August 05, 2022, 03:37:22 AM

Dubai in UAE is the best place, 0% taxation for companies.
Guess why it is not in the list!

France number 5 with 60% taxes on gains? That must be a joke.

Dubai has laws for their resident and Arab counties don't give residence to the people that easily
Those which take great taxes are almost providing the same to the people. Mostly people rush to Canada.

Smack That Ace

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Quote from: Bitstar_coin on August 03, 2022, 03:16:02 PM

Since when did USA and Germany became so crypto friendly that they ranked first and second in this list! if this is really the case then am suppose crypto community in this two countries should be happy with the current crypto stand in these country.
And how come El Salvador is not among this countries? is this list authentic or what! how is that even possible that a country who legalize btc as legal tender is not anywhere around the top ten! i guess the criteria to for determining this is different. Very interesting list.

My question is the same as yours: why can't El Salvador be among the top 10? El Salvador ranks 35th below Russia, which has just re-enacted a ban on the use of cryptocurrencies in payments. Looking at the chart above, it seems that they are only focusing on developing countries and countries with large economies. I do not trust the reliability of this ranking.
https://www.engadget.com/putin-law-prohibiting-crypto-payments-russia-125015139.html#:~:text=People%20in%20Russia%20will%20soon,pay%20for%20goods%20and%20services.

TheWolf666

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Dubai in UAE is the best place, 0% taxation for companies.
Guess why it is not in the list!

France number 5 with 60% taxes on gains? That must be a joke.

Bitstar_coin

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Since when did USA and Germany became so crypto friendly that they ranked first and second in this list! if this is really the case then am suppose crypto community in this two countries should be happy with the current crypto stand in these country.
And how come El Salvador is not among this countries? is this list authentic or what! how is that even possible that a country who legalize btc as legal tender is not anywhere around the top ten! i guess the criteria to for determining this is different. Very interesting list.

lixer

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Quote from: Lambe Ndumble on August 03, 2022, 02:30:06 AM

In my opinion Australia is the most friendly country with Cryptocurrencies, as evidenced by many big projects from Doge until now from Australia, maybe the market capitalization is still under other countries but Crypto users in Australia continue to increase.

How come when Australia is only ranked as top 4 according on the op's list? Although if we look on the detailed stats. The first few countries in the list had some smaller score (value's) as when compared to Australia but some numbers on Australia are also lower than the others. I think that can make sense on why Australia can't be on the top or first in the list. And so what if there are a lot of doge coin projects from this country?

I think that is not so proudful as we know dogecoin is being hated by the many but id be more happier to know that fact if the coin that we are talking about are bitcoin, ethereum or even other top coins as long as it's not a meme coin.

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Quote from: Symmetrick on July 15, 2022, 06:19:04 PM

A new report from Coincub has been released, which identified the leading countries in the crypto world and the most crypto-friendly economies in the world.
Full report here: Q2 2022 Global Crypto Ranking: Germany goes head to head with the USA

At the moment, the top 10 most crypto-friendly countries:

Germany
USA
Singapore
Australia
Switzerland
France
Netherlands
Portugal
Canada
Hong Kong

According to the report, America lost its lead in the second quarter of 2022 for the following reasons:

Quote

Holding the USA back was a somewhat ‘state-by-state’ approach to legislation and regulation, with a largely uncoordinated anti-money laundering strategy. This looks to be changing and the Biden measures, if fully implemented, will provide wider safeguards to restrict and prevent fraud

Comparison table of the top 10 countries, based on data for the 1st and 2nd quarter of 2022:

In my opinion Australia is the most friendly country with Cryptocurrencies, as evidenced by many big projects from Doge until now from Australia, maybe the market capitalization is still under other countries but Crypto users in Australia continue to increase.

dansus021

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Quote from: jrrsparkles on July 16, 2022, 11:18:40 AM

But they are yet to implement any regulations at all just like lot other countries so they have been excluded from the list

Im from Indonesia but there is a regulation about crypto here and all crypto-related controlled by bappebti. but i think there is not much data to gather around in here so it not counted in the list

Doan9269

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Quote from: Symmetrick on July 15, 2022, 06:19:04 PM

the top 10 most crypto-friendly countries:

Germany
USA
Singapore
Australia
Switzerland
France
Netherlands
Portugal
Canada
Hong Kong

i thought i could see even one of African countries here on the list but to my surprise none was been mentioned, we have at least Central African Republic as a country that has even adopted bitcoin as a legal tender but sometimes reports may not be accurate base on the sources, i see USA as well here on the list being a surprise to me because US is one of the regions that has been having it hard with bitcoin over some time now.

Anonylz

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I am not familiar with Germany's stand on crypto-related matters but to see USA as the second most crypto-friendly country spot is quite shocking to be honest, this list has put countries like El Salvador, and UAE which usually come among the top crypto-friendly countries far behind. Am still not sure what is the basis of the criteria in this selection, I don't know how USA happens to be in the second spot. Shocked

RealMalatesta

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Quote from: inthelongrun on August 01, 2022, 06:57:55 AM

The source has zero to low data in Latin America, Africa, many parts of eastern Europe, and most of Asia though. So it's more like a ranking of the most crypto-friendly countries in the west and some few countries on other continents. And who will miss El Salvador and the Central African Republic? These two countries would probably top in a world ranking considering both countries already recognized bitcoin as a currency.

That is mainly because they do not think those nations to be big enough to be even mentioned. Source is giving out names that would be big names, if you look at it then you will realize that there is no El Salvador, the one nation that made bitcoin a legal tender and you think that doesn't make it crypto-friendly? Of course, it does but they left them out. Which shows you that the list is wrong from the start, just even with that fact.

But, if we are talking about something bigger than it means that we will not be making any kind of decisions based on anything on this source anyway, it will not be like "oh let’s take a look at this list and move there because it's crypto friendly".

Cryptock

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Quote from: KennyR on July 31, 2022, 06:49:16 PM

Quote from: Cryptock on July 31, 2022, 06:41:59 PM

Quote from: amishmanish on July 29, 2022, 12:14:37 PM

I think south Korea also deserve place in the list South Koreans are pushing crypto adoption strongly. LG of South Korea announced that they will launch TV which will have crypto trade capability,

The developed countries are the most crypto friendly

Developed countries always wants them to be connected to the technology advancement. This is where cryptocurrency usage is seen much on developed countries. Another thing people are well educated to understand the reality of cryptocurrencies than just falling for scams. The governments seems to be supportive in regulation, because the contribution from cryptocurrencies were that disturbing to the economy.

there are authorities which really want their countries to progress. And they put an effort to it.
It is the need of the time to adopt change - otherwise stagnant water too gets smelly likewise stagnant community disappears.

inthelongrun

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The source has zero to low data in Latin America, Africa, many parts of eastern Europe, and most of Asia though. So it's more like a ranking of the most crypto-friendly countries in the west and some few countries on other continents. And who will miss El Salvador and the Central African Republic? These two countries would probably top in a world ranking considering both countries already recognized bitcoin as a currency.

Captain Corporate

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We already established that this list is not a correct one. Sure it poses as one but we all know that it is not and there must be some data missing. However, that doesn't change the fact that we just named maybe like 20 nations on a top 10 list for which to be better served there. This shows that we are not going to end up with something short, its going to be quite powerful for the crypto world. If we have this many nations trying to be at the top, that means bitcoin adoption and crypto-friendly nation counts are going up. This in return means that crypto will be doing a lot better for the near future, and probably long future if nothing changes.

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Quote from: Cryptock on July 31, 2022, 06:41:59 PM

Quote from: amishmanish on July 29, 2022, 12:14:37 PM

I think south Korea also deserve place in the list South Koreans are pushing crypto adoption strongly. LG of South Korea announced that they will launch TV which will have crypto trade capability,

The developed countries are the most crypto friendly

Developed countries always wants them to be connected to the technology advancement. This is where cryptocurrency usage is seen much on developed countries. Another thing people are well educated to understand the reality of cryptocurrencies than just falling for scams. The governments seems to be supportive in regulation, because the contribution from cryptocurrencies were that disturbing to the economy.

Cryptock

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Quote from: amishmanish on July 29, 2022, 12:14:37 PM

I think south Korea also deserve place in the list South Koreans are pushing crypto adoption strongly. LG of South Korea announced that they will launch TV which will have crypto trade capability,

The developed countries are the most crypto friendly
because they accept the change and modern changes brought to benefit the people of that country - those who stick to the old rule never progress.

DrBeer

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As far as I understand, this rating does not speak about "the depth of penetration of cryptocurrency as a means of payment in a particular country", but is a kind of integral indicator, not "depth" but "width" of acceptance of blockchain technology as such, including cryptocurrencies, more precisely, their freedom of circulation. But first of all, this rating is still about the laws governing the work with this technology, about maintaining law and order when using cryptocurrencies as an asset acceptable for market relations, about wide support in various areas of life and the economy. Here it is impossible to “one-sidedly” evaluate “whether crypto is accepted or not” at the supermarket checkout, this cannot be a real and qualitative indicator of the overall picture of the country’s acceptance of blockchain technology and cryptocurrencies.

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Quote from: Maestro75 on July 24, 2022, 06:31:11 PM

Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

Me too I felt a bit disappointed also to find out that Nigeria was not among the top 10 on the list. The reason you gave is correct. Anti crypto activities of the prevent Nigeria government is a minus to us crypto lovers in the country. We have the trading volume and can be rated high on that but the friendly aspect if government to cryptos is what has dealt with us.

I have checked the whole list and understood that I could only recognise two African countries in the list of 56 countries. You don't have to blame your leaders or anyone. There are no strick rules or regulations about crypto in African countries than as it is in some states in US. What happens is that the media is always biased when it comes to Africa. They would always want to position African and her countries to always remain the minority, uneducated and uncivilised as it is seen and thought by the highly controlled media.

decodx

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Quote from: Frankolala on July 28, 2022, 03:16:46 PM

Germany is the first country in ranking because crpto currency is tax free and they also encourage private inveatorrs to keep their currency profit .

This is not entirely true.

Quote from: https://cointaxlist.com/blog/how-does-germany-taxes-crypto-is-it-really-tax-free

At a personal level, profits regarding cryptocurrencies are tax-free if the total profit generated from private sales transactions in the calendar year was less than 600 Euros and sales of cryptocurrencies held over a year are tax exempt in Germany.

This means that all profits from crypto investments over EUR 600 per year are subject to Personal Income Tax, which has progressive income tax rates ranging from 14% to 45%.

molsewid

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Quote from: laredo7mm on July 29, 2022, 12:22:48 PM

It will be beneficial to know how many peoples are using crypto from every country. This will show us the percentage of adoption in that respective country. I know some county where crypto is not officially legal but many people are using it. I know there is some data in the internet that shows India has the largest users in the crypto world but it looks totally incorrect to me.

It could be but it is kinda impossible to get the number because we all know that they use crypto because they want to create transactions without others knowing it. And maybe because their country might have the highest crypto users but does their country already accepted it? In my country many people used crypto in different ways but it is not legal in here and even not legal they are afraid to do more transactions because our government will jail them by not paying taxes.

kryptqnick

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I don't know this website, so my trust to the report is quite low. Germany allowed Bitcoin investments, okay. Is it enough to become #1? And US, where due to the sell tax you're basically expected to pay taxes each time you sell BTC for fiat, no matter how low the sum, is #2? Ukraine is very low, even though it's a very crypto-friendly country where many use cryptos for all sorts of purposes, taxation isn't enforced because cryptos aren't fully regulated, and where even the government on the highest levels is accepting crypto donations. And then there's El Salvador, obviously the most crypto-friendly country in the world because Bitcoin is legal tender there and the state is very pro-Bitcoin, and yet it's #35.

laredo7mm

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It will be beneficial to know how many peoples are using crypto from every country. This will show us the percentage of adoption in that respective country. I know some county where crypto is not officially legal but many people are using it.As a newbie, I still recommend buying bitcoin as the best option. If you really want to make money long term in the market, don't look at the price in the short term. The price of bitcoin has increased many times since 2013 and many people think that bitcoin will not be able to rise anymore and is no longer as profitable as altcoins. This is a common mistake.
, I know there is some data in the internet that shows India has the largest users in the crypto world but it looks totally incorrect to me.

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Quote from: el kaka22 on July 18, 2022, 01:02:28 PM

I don't believe this list to be fair. It's basically a list of first world nations and all that, always rich nations.
If you look at other nations, specially lower level nations then you are going to find places that are more crypto-friendly. First of all, El Salvador literally has it as legal tender and it's not in the top 10? No other place has it as legal tender, they are by far the best one and should be at the very top.

You can calculate it however you want, you can put any type of metric or data you want, legal tender beats all of that and it makes El Salvador the biggest one. I don't care what people are saying, I just think that this list is very very wrong.

The richest nations will always be the best nations for private enterprise, but I'd agree that the list seems skewed towards wealthy nations.

These nations are also the countries that are restricting crypto growth through high taxes and stringent regulations. Hong Kong is under Chinese control, probably won't stay crypto friendly for long. The U.S. is looking to add regulations to their crypto market, they won't stay on top for long either.

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I think south Korea also deserve place in the list South Koreans are pushing crypto adoption strongly. LG of South Korea announced that they will launch TV which will have crypto trade capability,

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Quote from: bitzizzix on July 28, 2022, 10:32:00 PM

Of course, as crypto continues to grow and gain mainstream acceptance, as well as meet increasingly interested governments and regulatory frameworks, this list may change as there are still many crypto-friendly countries.
and this is a list of countries that invest the most in or use bitcoin or crypto at the moment, such as the United States which ranks second not to have the most bitcoin or crypto. however they have the most ATMs installed because so many people want to join bitcoin or crypto and because of that, the IRS can raise a lot of money by tracking down people who don't pay their taxes.

The more developed the countries are the more adaptable they are towards the change, benefiting people.
Our country is not crypto friendly and that is one of the reason we are still a developed country.And there is no chance of being a crypto friendly country anytime sooner.

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Of course, as crypto continues to grow and gain mainstream acceptance, as well as meet increasingly interested governments and regulatory frameworks, this list may change as there are still many crypto-friendly countries.
and this is a list of countries that invest the most in or use bitcoin or crypto at the moment, such as the United States which ranks second not to have the most bitcoin or crypto. however they have the most ATMs installed because so many people want to join bitcoin or crypto and because of that, the IRS can raise a lot of money by tracking down people who don't pay their taxes.

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Quote from: Symmetrick on July 15, 2022, 06:19:04 PM

Germany
USA
Singapore
Australia
Switzerland
France
Netherlands
Portugal
Canada
Hong Kong

El salvador didn't make the cut despite them structuring a high percentage of their future economic plans around BTC.

United states is #2? Big surprise.

The philippines, nigeria and other emerging nations who do not tax crypto under capital gains are not listed as high as they should be. Disappointing.

Hong kong made the top 10, when it may soon be integrated into china who outright banned crypto.

Australia, canada and france in the top 10. I think canada outright banned purchase of crypto in the country. Australia and france may not be far behind with their AML regulation.

Interesting list to say the least.

I hope no one follows this list if they plan to move to a foreign country.

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Germany is the first country in ranking because crpto currency is tax free and they also encourage private inveatorrs to keep their currency profit .

Apart from this Germany is one of country which has the most Bit coin nodes but am still surprised though.

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Quote from: virasisog on July 25, 2022, 11:37:25 AM

Quote from: Maestro75 on July 24, 2022, 06:31:11 PM

Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

Me too I felt a bit disappointed also to find out that Nigeria was not among the top 10 on the list. The reason you gave is correct. Anti crypto activities of the prevent Nigeria government are a minus to us crypto lovers in the country. We have the trading volume and can be rated high on that but the friendly aspect of the government to cryptos is what has dealt with us.

Yes, Nigeria is emerging and developing when it comes to crypto adaption so I believe that they deserve a higher spot despite the negative aspects that are pulling it down. Nigeria is actually more advanced and even has a higher number of traders compared to other Asian countries. Their involvement in crypto investment has a huge percentage compared to others.

That is one of the reasons they are developed countries they accept changes and they make new moves as per the change.
The country I live is not very adaptive of the change. And that is why people are frustrated and try to move to the countries as mentioned in OP

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Quote from: Maestro75 on July 24, 2022, 06:31:11 PM

Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

Me too I felt a bit disappointed also to find out that Nigeria was not among the top 10 on the list. The reason you gave is correct. Anti crypto activities of the prevent Nigeria government are a minus to us crypto lovers in the country. We have the trading volume and can be rated high on that but the friendly aspect of the government to cryptos is what has dealt with us.

Yes, Nigeria is emerging and developing when it comes to crypto adaption so I believe that they deserve a higher spot despite the negative aspects that are pulling it down. Nigeria is actually more advanced and even has a higher number of traders compared to other Asian countries. Their involvement in crypto investment has a huge percentage compared to others.

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Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

Me too I felt a bit disappointed also to find out that Nigeria was not among the top 10 on the list. The reason you gave is correct. Anti crypto activities of the prevent Nigeria government is a minus to us crypto lovers in the country. We have the trading volume and can be rated high on that but the friendly aspect if government to cryptos is what has dealt with us.

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Quote from: OROBTC on July 18, 2022, 01:12:47 PM

They should have perhaps included another variable in their study.

It is their right to decide with which methodology they will conduct the research, as well as in which countries they will conduct it, so it is possible that some countries will not be on the list at all because they have no data for them.

Quote from: OROBTC on July 18, 2022, 01:12:47 PM

I have bought at BTCATMs in parts of Europe. Switzerland and Austria have very friendly BTCATMs, in that there is no KYC for smaller amounts (250 euro for Austria, IIRC), and there are lots of the machines in those two countries. I have not been to Poland, but coinatmradar.com shows a lot of machines there as well.

This is just proof that countries within the EU implement laws differently when it comes to KYC and AMLD. It is obvious that the degree of development of society and corruption and crime rates play a role in such decisions.

Quote from: OROBTC on July 18, 2022, 01:12:47 PM

Germany, on the other hand, has a very low number of BTCATMs. The UK used to have a lot, but their regulations have strangled that.

And this is a country where you pay 0% tax if you sell crypto 1 year after purchase, so it would be logical that people are more interested in such an investment. The UK is an indicator that everything can change literally overnight, and this can happen in any country when the authorities change the rules of the game.

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Quote from: Lucius on July 17, 2022, 07:44:03 AM

Quote from: Despairo on July 17, 2022, 04:43:18 AM

The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol.

The research obviously had some other criteria than that Bitcoin is legal tender in a country as an important feature when it comes to the status of a crypto-friendly country. Obviously, more focus is being devoted to the overall status according to crypto laws and adaptation, probably also security when it comes to investing.

There is no data for my country at all, although in any case it could be considered quite crypto-friendly considering the number of physical crypto exchanges without KYC for amounts up to even 2000 EUR per transaction, 0% tax if you sell crypto 2 years after purchase and the fact that you can buy almost anything you can imagine with Bitcoin (online).

They should have perhaps included another variable in their study.

I have bought at BTCATMs in parts of Europe. Switzerland and Austria have very friendly BTCATMs, in that there is no KYC for smaller amounts (250 euro for Austria, IIRC), and there are lots of the machines in those two countries. I have not been to Poland, but coinatmradar.com shows a lot of machines there as well.

Germany, on the other hand, has a very low number of BTCATMs. The UK used to have a lot, but their regulations have strangled that.

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I don't believe this list to be fair. It's basically a list of first world nations and all that, always rich nations.
If you look at other nations, specially lower level nations then you are going to find places that are more crypto-friendly. First of all, El Salvador literally has it as legal tender and it's not in the top 10? No other place has it as legal tender, they are by far the best one and should be at the very top.

You can calculate it however you want, you can put any type of metric or data you want, legal tender beats all of that and it makes El Salvador the biggest one. I don't care what people are saying, I just think that this list is very very wrong.

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Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa.

Since in the whole ranking there are only two countries, I don't see the nice part at all.

Quote from: Despairo on July 17, 2022, 04:43:18 AM

The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol. The fact they're encourage more Bitcoin adoption since their government already suggest people to use Bitcoin and their wallet, also all businessman already accept Bitcoin as an alternative payment.

Because when you do a ranking you don't just laser eyes, bukele buy the dip and that's all, you need the complete environment for it.
If Salvador was so bitcoin-friendly and much more than any other country, can you please let us know what major companies have moved from Europe and US to Salvador in order to take advantage of this friendliness?
Since the answer is, none, you have your own answer there as well.

Anyhow, now that Adolf Putler has signed the ban on crypto as payments for goods and services, does it mean we have a new number 56, instead of 17?

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Quote from: jrrsparkles on July 16, 2022, 11:18:40 AM

Quote from: Moneyprism on July 16, 2022, 09:28:00 AM

i'm a little surprised why Indonesia is not included in this list? even though most people here have started investing a lot in cryptocurrencies, even at the end of this year the central bank here plans to issue crypto trading regulations because more and more people are transacting using crypto.

But they are yet to implement any regulations at all just like lot other countries so they have been excluded from the list, its surprising to see El Salvador at 35 but its the country which accepted bitcoin as a legal tender and it seems the only country which regulated in that way. Anyway this gives some insight that governments are adopting to the system and make the potential out of it.

yeah I think that's a strong reason why Indonesia is not included in the list ... but according to Gemini, Indonesia is one of the countries with the largest number of crypto adopters in the world, you can see it in this article https://jakartaglobe.id/business/indonesia-enjoys-the-highest-crypto-adoption-rate-worldwide-study

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I am not sure if that is the list by its number and dominance or its just randomly placed but I do feel that Switzerland will top all countries soon considering they are famous for their Swiss account and money laundering. Lolz. The Swiss must making huge plans for the same and will surprise us sooner or later. ;-)

I dint know Germany is also crypto friendly. Its interesting. USA is really mixed one and messed up one considering they are having some countries with opposite thoughts with crypto and some are way friendly!

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Quote from: Despairo on July 17, 2022, 04:43:18 AM

The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol.

The research obviously had some other criteria than that Bitcoin is legal tender in a country as an important feature when it comes to the status of a crypto-friendly country. Obviously, more focus is being devoted to the overall status according to crypto laws and adaptation, probably also security when it comes to investing.

There is no data for my country at all, although in any case it could be considered quite crypto-friendly considering the number of physical crypto exchanges without KYC for amounts up to even 2000 EUR per transaction, 0% tax if you sell crypto 2 years after purchase and the fact that you can buy almost anything you can imagine with Bitcoin (online).

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The data they collected seems like a joke, how can El Salvador and Central African Republic who accept Bitcoin as a legal tender aren't a crypto friendly lol. The fact they're encourage more Bitcoin adoption since their government already suggest people to use Bitcoin and their wallet, also all businessman already accept Bitcoin as an alternative payment. If those both countries aren't friendly to crypto, there's no way in the hell they will accept as legal tender.

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Quote from: xSkylarx on July 16, 2022, 10:02:56 PM

Quote from: goaldigger on July 16, 2022, 04:09:31 PM

El Salvador makes a good regulations with regards to Bitcoin adoption, its just that this topic tackles every field starting from the regulations up to the adoption of people and using it from day to day basis. The countries on a top list are very friendly since many establishments acknowledge Cryptocurrency and in El Salvador, they are just starting with this one. My country is not on the list as well but I can tell that we are also a crypto friendly, its just that many people are still hesitant to adopt.

I'm also surprised that Japan isn't on the list even though they are one of the most advance country in terms of technology. But I think criteria for choosing crypto-friendly economy on OP is for countries where their government acknowledge the use crypto as a form currency or investment and people there are more educated about it. Even if the country that we live is not on the list, the OP is already a good start that other countries will adopt cryptocurrencies soon.

South Korea too, but it's good that at least two Southeast Asian country made it to the list as they are trying to become a hub at least in the region.

As for Germany, no surprise, since 2017- there have been an explosion, online merchants accepting crypto, Bitcoin ATM numbers multiplying and others. Portugal and France though, I haven't heard any news coming from them as far as being crypto friendlies, but I might be wrong.

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Quote from: goaldigger on July 16, 2022, 04:09:31 PM

El Salvador makes a good regulations with regards to Bitcoin adoption, its just that this topic tackles every field starting from the regulations up to the adoption of people and using it from day to day basis. The countries on a top list are very friendly since many establishments acknowledge Cryptocurrency and in El Salvador, they are just starting with this one. My country is not on the list as well but I can tell that we are also a crypto friendly, its just that many people are still hesitant to adopt.

I'm also surprised that Japan isn't on the list even though they are one of the most advance country in terms of technology. But I think criteria for choosing crypto-friendly economy on OP is for countries where their government acknowledge the use crypto as a form currency or investment and people there are more educated about it. Even if the country that we live is not on the list, the OP is already a good start that other countries will adopt cryptocurrencies soon.

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Quote from: Symmetrick on July 15, 2022, 06:19:04 PM

At the moment, the top 10 most crypto-friendly countries:
...

Netherlands

....

Is Netherlands a GOAT country to live in?

This country is in Top 10 on every list(even Rule of law list https://worldjusticeproject.org/sites/default/files/images/2020/top-bottom-performers_cropped.png, which is a huge plus). Legal weed too

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Quote from: BIT-BENDER on July 16, 2022, 03:49:04 PM

I don’t know if anyone has asked the very pressing question on why isn’t El-Salvador on this list, this country has taking giant steps in seeing that Bitcoin is fast adopted by its citizens, I believe this statistic the OP is implying are those of the number of citizens actively using Crypto-currency, El-Salvador is a small country and a developing one at that so they won’t match those top countries regardless of their government stands towards crypto-curreny.

El Salvador makes a good regulations with regards to Bitcoin adoption, its just that this topic tackles every field starting from the regulations up to the adoption of people and using it from day to day basis. The countries on a top list are very friendly since many establishments acknowledge Cryptocurrency and in El Salvador, they are just starting with this one. My country is not on the list as well but I can tell that we are also a crypto friendly, its just that many people are still hesitant to adopt.

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I don’t know if anyone has asked the very pressing question on why isn’t El-Salvador on this list, this country has taking giant steps in seeing that Bitcoin is fast adopted by its citizens, I believe this statistic the OP is implying are those of the number of citizens actively using Crypto-currency, El-Salvador is a small country and a developing one at that so they won’t match those top countries regardless of their government stands towards crypto-curreny.

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Quote from: ingiltere on July 16, 2022, 02:56:30 AM

Germany at the top seems fair but I'm surprised that USA is the second on the list

I also got surprised as well seing US as the second on list, what now keep me wondering is if there's no any African countries at all who is crypto friendly from the continent, or maybe we should analyze it this way on what exactly it was meant, is it the country regulation or by adoption of cryptocurrency in general, or the rate at which the citizens participate from each country amidst ban from governments.

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Quote from: Rruchi man on July 16, 2022, 09:01:38 AM

It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

In the terms of this statistics, i can agree with you that the Nigerian government stance on crypto is probably the reason why Nigeria is rank far behind in the position of 39th.
But if we should speak in terms of reality, i did tell you that Nigerian government banning crypto transactions in Nigeria was a blessing in disguise for crypto adoption in the country, a lot of people didn't know what crypto was until the ban, the ban was indirectly a form of marketing for crypto, i am tell you this from my experience, i currently have some new crypto buddies who said, they never knew what Bitcoin or crypto was, though they have been hearing the name, they said they decided to really know what crypto was after the ban was announce, and today, they are almost pro crypto traders and investors.

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Quote from: yudi09 on July 16, 2022, 02:10:33 AM

The utilization of crypto carried out by Germany in the banking industry. Germany also issued a policy on taxes that long-term profits are not charged.

Quote

Germany became the first country to adopt a blockchain strategy to harness the potential of technology to advance digital transformation.

A fairly good use of crypto by the country of origin of the European continent if we see that many companies in Germany are also supported by C3 operators and investors to reduce emissions. I think this is an enviable move by other countries.

Their efforts should be appreciated and other developed countries should take the necessary steps to follow Germany's footprint toward a cashless society. Inflation destroying our economy and the inequality between rich and poor becoming more noticeable. The sovereignty of the USD as world one of the leading currencies for international trade should be demolished because of the misuse of the USA money printing machine.

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Quote from: jrrsparkles on July 16, 2022, 11:18:40 AM

Quote from: Moneyprism on July 16, 2022, 09:28:00 AM

i'm a little surprised why Indonesia is not included in this list? even though most people here have started investing a lot in cryptocurrencies, even at the end of this year the central bank here plans to issue crypto trading regulations because more and more people are transacting using crypto.

But they are yet to implement any regulations at all just like lot other countries so they have been excluded from the list, its surprising to see El Salvador at 35 but its the country which accepted bitcoin as a legal tender and it seems the only country which regulated in that way. Anyway this gives some insight that governments are adopting to the system and make the potential out of it.

Probably the reason why Indonesia and other countries are not included in this list is because there is no data collected on these countries.

Anyways, I am quite surprised why El Salvador is only at rank 35, right next to my country Philippines. El Salvador has already accepted bitcoin as a legal tender yet it is only ranked at 35. Philippines hasn't implemented any regulations on cryptocurrency but there is also no limit or restrictions made on it which is why most Filipino are able to use bitcoin and other cryptocurrency so freely.

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Quote from: Moneyprism on July 16, 2022, 09:28:00 AM

i'm a little surprised why Indonesia is not included in this list? even though most people here have started investing a lot in cryptocurrencies, even at the end of this year the central bank here plans to issue crypto trading regulations because more and more people are transacting using crypto.

But they are yet to implement any regulations at all just like lot other countries so they have been excluded from the list, its surprising to see El Salvador at 35 but its the country which accepted bitcoin as a legal tender and it seems the only country which regulated in that way. Anyway this gives some insight that governments are adopting to the system and make the potential out of it.

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i'm a little surprised why Indonesia is not included in this list? even though most people here have started investing a lot in cryptocurrencies, even at the end of this year the central bank here plans to issue crypto trading regulations because more and more people are transacting using crypto.

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It is both nice and disappointing to see that Nigeria is on the list at number 39, the second African country after South Africa. I feel we could have been higher up in the list with our very high crypto involvement had our government not made the environment less friendly with unnecessary regulations and sanctions threatened for those involved in crypto. Not for so long though, i believe that in a couple years, a new government must have take power and hopefully a better favourably crypto environment will flourish, Nigeria should be amongst the first twenty.

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Germany at the top seems fair but I'm surprised that USA is the second on the list. I guess it differs from state to state, some are more hostile to Bitcoin and some are more friendly. In overall it has high regulation and proliferation score, well financial services is obviously at the highest point.
Türkiye in number 37, could be worse. There is no regulation yet but some bans on services. Still it has a big market and two giant trading companies, high public interest. That probably give more points. It may look different from the outside, I thought it was worse as I live there. I wouldn't call this government crypto-friendly at all though.

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The utilization of crypto carried out by Germany in the banking industry. Germany also issued a policy on taxes that long-term profits are not charged.

Quote

Germany became the first country to adopt a blockchain strategy to harness the potential of technology to advance digital transformation.

A fairly good use of crypto by the country of origin of the European continent if we see that many companies in Germany are also supported by C3 operators and investors to reduce emissions. I think this is an enviable move by other countries.

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A new report from Coincub has been released, which identified the leading countries in the crypto world and the most crypto-friendly economies in the world.
Full report here: Q2 2022 Global Crypto Ranking: Germany goes head to head with the USA

At the moment, the top 10 most crypto-friendly countries:

Germany
USA
Singapore
Australia
Switzerland
France
Netherlands
Portugal
Canada
Hong Kong

According to the report, America lost its lead in the second quarter of 2022 for the following reasons:

Quote

Holding the USA back was a somewhat ‘state-by-state’ approach to legislation and regulation, with a largely uncoordinated anti-money laundering strategy. This looks to be changing and the Biden measures, if fully implemented, will provide wider safeguards to restrict and prevent fraud

Comparison table of the top 10 countries, based on data for the 1st and 2nd quarter of 2022:

Topic: Most crypto-friendly economies in the world (Read 716 times)