The price of Bitcoin crossed $65,000 before the end of September 2024, urging crypto traders around the world to invest in $BTC. Bitcoin traders are hyped about crypto-friendly countries making way for their progress. The decentralized digital tokens and cryptocurrencies have been adopted by global financial markets. It allows traders and investors to include crypto into their day trading routines, expanding the scope of their wealth and its potential to earn profits in many countries.
Take a look at the best countries to invest in Bitcoin for increased security.
United States
The United States of America has emerged as a safe haven for crypto traders. Over 70% of the states in the US have passed legislations that directly address blockchain technology and its impact on the economy. California, New Jersey, Washington, and New York, have the highest rate of crypto investors in the country.
There are tons of stores and retail outlets of international brands in the US that accept Bitcoins as payment. Recently, a number of exchange-traded funds that are based on cryptocurrencies are also listed on US stock exchanges like NASDAQ for new traders to invest in digital assets.
Portugal
Portugal has a tax environment that is ideal for crypto investors. It supports blockchain companies and Bitcoin holders with favorable tax rates for various operations. The regulatory framework for cryptocurrencies in Portugal exempts individuals from VAT, making it one of the most crypto-friendly countries in the world to buy and sell Bitcoin tokens.
El Salvador
El Salvador became the first country to identify Bitcoins as a legal tender in 2021. Cryptocurrency companies and traders have penetrated El Salvador for its tax benefits and ease of trade. Regulators in the country are encouraging citizens to own and spend Bitcoins by investing in a universal digital wallet.
Countries like El Salvador are opening casinos that accept Bitcoins and other cryptocurrencies. You can easily deposit digital tokens to earn money during your travels. People in El Salvador can make money by playing table games like blackjack. If you haven't learnt how to play any table games in El Salvador, you can practice your gaming skills on mobile apps to get familiar with the moves you need to win huge rewards without incurring losses.
Germany
Germany has granted legal status to Bitcoin, letting its people spend Bitcoins for daily transactions. Security measures in Germany have been increased to protect cryptocurrency investors and their activities. Fraud, money laundering, and other financial malpractices are restrained for long-term gains from the crypto market.
Switzerland
Switzerland is a leading country for cryptocurrencies. Places such as Zug in Switzerland are major hubs for cryptocurrency companies that are developing blockchain innovations for Bitcoin, Ethereum, and Cardano. More than 100 ATMs for Bitcoin can be found across German cities including Basel, Bern, Chur, and Lausanne.
Estonia
Estonia provides e-Residency and similar programs to crypto traders for creating a digital presence using cryptocurrency. Digital wallet providers and companies that work on crypto platforms can easily establish their brand in Estonia due to its advanced infrastructure.
Remote access is available to crypto traders to utilize various digital services in Estonia. Tax policies in the country have excluded income tax and VAT on Bitcoins. Business owners can obtain a license for their crypto company within a few days in Estonia for a nominal fee. It is one of the first nations in the European Union to allow business licenses for enterprises that research blockchain technology.
Malta
Malta is a global center for cryptocurrency companies. Most activities of crypto investors and traders in Malta are regulated by the Virtual Financial Assets (VFA) Act. The crypto industry has boomed in Malta as a result of the VFA Act and its legal advantages for businesses. It includes lower tax rates and tax exemptions for crypto investors in Malta.
Canada
Canada is playing an important role towards making cryptocurrencies more accessible to people. Crypto investors are required to report their transactions in Canada for transparency and compliance.
Bitcoin and other cryptocurrencies are considered as commodities in the country. The Financial Transaction Analysis and Reporting Center of Canada (FINTRAC) is the primary regulatory authority for crypto companies. There are several banks in Canada that allow cryptocurrency transactions for convenience.
Luxembourg
Luxembourg has embraced cryptocurrencies as the future of its economy. Bitcoin has been a recognized method of payment in Luxembourg since 2016. It is among the strongest financial markets for cryptocurrency companies in Europe.
The financial system of Luxembourg has integrated blockchain technologies by deploying products that are related to cryptocurrency. Businesses that are focused on cryptocurrencies must obtain their licenses from the Commission de Surveillance du Secteur Financier (CSSF) to run their operations in Luxembourg. Tax rates are nullified for digital assets held by crypto investors in Luxembourg for more than 6 months.
Singapore
Singapore has an outstanding policy on cryptocurrencies. The central bank of Singapore supports crypto transactions and monitors the activities of crypto companies to prevent illegal actions in the country. Bitcoin holders and cryptocurrency investors are not obliged to pay taxes in Singapore unless they are involved in trading.
Be cautious with crypto
The crypto market is unpredictable as its transactions can’t be traced. Bitcoin is trading at over $65,000 per token, giving plenty of reasons to invest in $BTC. However, traders who are new to crypto can diversify their financial portfolio by holding other cryptocurrencies like Ethereum and Chainlink for improved returns in the future.
