Bitcoin has taken the world by storm and has been the talk of the town as of late. Yet not everyone has shown equal willingness to support cryptocurrencies in favor of “real” money. The countries listed below have been the exact opposite, welcoming Bitcoin with open arms and accommodating cryptocurrency culture in any way possible. But keep in mind that the list follows no particular order or ranking system.
For a while now, Denmark has been striving to completely eliminate paper money from circulation in favor of complete digitalization of currency. Therefore, Bitcoin falls right into their wheelhouse, and it comes as no surprise that Denmark is one of the biggest cryptocurrency supporters.
However, Denmark is not yet classifying Bitcoin as a currency; therefore, there are zero regulations in place for it, making it a haven for Bitcoin enthusiasts. This makes Denmark a home to numerous cryptocurrency-related businesses that are leading the charge of innovation in this field.
The United States is almost always at the forefront of new technological advancements, and Bitcoin is no exception. The US leads the fray by number of Bitcoin users and volume of trades. This is reinforced by the fact that the US, especially Silicon Valley, is the source of hundreds of Blockchain-based startup businesses that all look to exploit this cryptocurrency in every way imaginable.
Moreover, the USA is looked as a global economic leader, often leading by example. Therefore, their regulations will most likely serve as bar-setters for other countries to follow. It’s crucial that any cryptocurrency enthusiasts follow the US’ stance on Bitcoin, as it will probably affect its worldwide popularity.
The Netherlands is home to the city of Arnhem, which has gone above and beyond expectations when it comes to adopting Bitcoin. They’ve done so much that Arnhem has been dubbed the “Bitcoin City,” hosting hundreds of merchants encompassing all sorts of services you can think of. It’s probably the only city where you can go in with nothing but Bitcoin in your “wallet” and not miss out on anything.
However, it’s not just Arnhem that deserves the spotlight. The Netherlands does not regulate Bitcoin; therefore, it is a host to a number of notable businesses and ATMs scattered across the country. If you want, you can even schedule a visit to the Bitcoin Embassy, located in Amsterdam.
The Netherlands has always been one of the most progressive countries in the globe, and we can expect even more good things to come from them in terms of cryptocurrency adoption.
Australians haven’t been overly friendly to Bitcoin from the get-go, but even with a few bumps on the road, the cryptocurrency community is in a very healthy state in the Land Down Under.
It started with many Australian banks sending letters to Bitcoin exchanges letting them know they will close their accounts, then there were fears of a would-be-fatal “double-tax” law on Bitcoin, which was fortunately removed following backlash from individuals and businesses.
Today, Bitcoin is not a victim to any sort of regulation and has been officially supported by Australia’s Reserve Bank. Moreover, the country does not classify Bitcoin as currency, but rather as a property. Australia is also considering launching their very own blockchain project.
The country’s shift of attitude towards cryptocurrencies has led to the rise of plenty of exchanges, users, and number of transactions.
Much like the US, South Korea is at the forefront of global technological innovation, as they are home to household names in the likes of Samsung, Hyundai, SK, Kia, and so forth. Therefore, it was only logical that they were quick to adopt Bitcoin alongside other cryptocurrencies.
The South Korean government has made sure to establish a welcoming environment for all Bitcoin startups by organizing various campaigns and educational conferences across the country. Of course, the biggest plus is that the government doesn’t regulate Bitcoin in any way, leading to the growth of mega-popular Bitcoin exchanges such as Korbit.
Perhaps the biggest fact which highlights Bitcoin’s widespread popularity in South Korea is that you can even buy Bitcoin at 7-11 stores.
These are the friendliest Bitcoin countries I could single out in the current market, but the majority of countries across the globe still haven’t regulated cryptocurrencies in any shape or form, leaving room for natural growth. Whether it continues to be so in the future remains to be seen; we can just hope governments don’t decide to meddle too much with Bitcoin and ruin the things that made it desirable in the first place.