Ten years later, Bitcoin is yet to dislodge the traditional financial industry; however, it has gained mass popularity.
Below we are going to take a look at six nations that are in the lead when it comes to bitcoin adoption.
Statistics show that 13 percent of Ukrainians own bitcoin and other altcoins. Also, $2 million worth of crypto is in circulation every day in the country making Ukraine one of the leading countries when it comes to bitcoin adoption.
Due to many Ukrainians owning bitcoin, a virtual monument was installed in Kiev, the capital city, to honor a great revolutionary, Satoshi Nakamoto.
Also, recently it was announced that there are plans to complete legalization of crypto assets in the country by 2021.
Japan is believed to be the home of Satoshi Nakamoto due to his pseudonym. The state has taken the lead when it comes to Bitcoin. In 2016 it became the first nation to legalize BTC and give it legal tender status. In 2017 they exempted crypto from taxation.
Also, the country has led the way when it comes to regulation especially that of crypto exchanges.
It’s home of the famous ‘crypto valley’ alluding to the city of Zug. Switzerland is among the few countries in the European Union that have been bitcoin-friendly from the start. In the state, even employees can receive their pay in crypto.
This eastern European nation is one of the most bitcoin-friendly countries in the world. In December 2017, Alexander Lukashenko, the president of Belarus, legalized bitcoin and other cryptocurrencies.
He also exempted anything crypto from attracting capital gains until 2023. This includes trading, mining, and initial coin offerings.
Apart from welcoming bitcoin earlier than other countries, Estonia has several bitcoin ATMs and startups that trade and accept bitcoin. It also has many merchants who accept payments in bitcoin.
The Estonian government is known to be lenient on the cryptocurrency sector. It’s something that has made the nation a favorite spot for crypto startups.
According to a recent study, the Netherlands is one of the leading countries when it comes to online bitcoin searches.
To give you an idea of how much the state is in love with cryptocurrencies, the city of Arnhem is nicknamed Bitcoin City in honor of a project with the same name.
The nation also has the largest concentration of companies that provide goods and services in exchange for Bitcoins.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.