In today’s list, we are going to take a look at the top 5 crypto friendly-countries for the people who have hit big with their profits, or people who want to live in a crypto-friendly country in the future. Or simply for when you are curious which countries are taking the lead in crypto acceptance. Let’s start!
We start the list with Malta. This Mediterranean island is well known for its crypto acceptance. A lot of blockchain projects/crypto exchanges are founded in this country (even Binance the biggest crypto exchange) because it’s a Valhalla for these type of projects. Also the headquarters of Unibet, one of the world’s largest online betting companies is situated on Malta.
Germany sees cryptocurrencies as private money and it isn’t treated as a legal tender. The laws regarding cryptocurrencies are friendly for the long-term holder because after owning cryptocurrencies for over a year you pay absolutely 0% tax on it regardless of their value.
The 3rd place on the list goes to Bermuda with zero income and capital gains tax on cryptocurrency profits/income in cryptocurrencies makes this country an obvious place to move to if you are looking to get paid in cryptocurrencies or if you are a daytrader.
On number 2 we have Switzerland that is known for its private banking with low levels of risk, therefore, it might not surprise you that the country is also very lenient with its crypto regulations. Trading cryptocurrency will cost you 0% of your profits, but mining cryptocurrency, however, will be taxed as normal income.
1. El Salvador
Last but not least we have the most crypto-friendly country there is, El Salvador. In this country cryptocurrency is seen as a legal tender and is being supported by the government/the people who live there, there are BTC ATMs almost everywhere the perfect country for any bitcoin holder who wants to live completely of their bitcoin.