5 countries in Europe that love Bitcoin
Every country around the world will have an opinion on cryptocurrencies, and more specifically, Bitcoin. While some countries are happy to embrace Bitcoin, recognising the benefits it can bring, others are just not ready. However, there is no question that Bitcoin’s popularity continues to grow. Testimony to this is that companies like Luno and their bitcoin wallet are being employed in over 40 countries by more than 2.5 million people. If we look at Europe, as a continent, it generally has a positive approach where Bitcoin is concerned; with many countries welcoming it with open arms.
Malta has recently emerged as one of the most progressive crypto and Bitcoin-friendly countries in Europe, and for a good reason. Malta is known as the mecca of gambling, and as Bitcoin and other cryptos are now making an impact in the sector, it makes perfect sense for Malta to get onboard with the trend. Malta has gone as far as forming the MDIA, Malta Digital Innovation Authority, which welcomes crypto and blockchain businesses to come and set up home in the country.
Estonia, home of Skype, is a northern European country which embraced Bitcoin earlier than most others on the continent. The success of Bitcoin in Estonia is mostly down to the government being keen supporters of it, as well as blockchain technology. The government quite rightfully want to use it to their advantage in banking and health care and plan to develop a custom digital currency too. In a practical move, any gains made via Bitcoin are taxable, with these deductions being pumped back into the country by the authorities.
Switzerland is a country on this list that has fully embraced Bitcoin, blockchain technology and other cryptos. Switzerland is a European country, but they’re not a part of the European Union, and this is perhaps what gives them an edge over other counties. The Swiss government is very pro-Bitcoin, and this has seen the country dubbed CryptoValley. Some of the top Bitcoin and blockchain companies call Switzerland home, and it’s also a haven for traders too if they pay the capital gains tax that is.
Belarus, as a country, are big believers in Bitcoin and other cryptos. They reacted to Bitcoin peaking in price and popularity in 2017 by legalizing Bitcoin and cryptos within the country, a step taken by president Alexander Lukashenko, and it has proved to be the right move. Belarus openly encourages crypto-based businesses to pitch up in the country too, and with mining, trading and capital gains remaining tax-free until 2023, it’s the perfect opportunity for many.
Slovenia, located in central Europe, plays home to respected Bitcoin exchanges, putting it on the map where cryptocurrencies and blockchain are concerned. A town located in Slovenia, Kranj, represents home to the world’s first monument to Bitcoin, symbolizing just how appreciated and accepted the world’s leading crypto is. From late 2017 onwards, the Slovenian government have pushed the message that they’re Bitcoin-friendly and open to welcoming crypto startups in the country. They aim to be one of the top EU countries for blockchain, and they’re certainly going the right way about it.