We’ve covered the most crypto-friendly destinations in Europe, but what about the best countries for your crypto investment around the world?
Slovenia
Did you know that Ljubljana is the most crypto-friendly destination in Europe? You should, because we covered it recently. But that’s not the only reason Slovenia is an excellent country to invest in crypto. Cryptocurrency trading is entirely legal in Slovenia, and the government even recognizes exchanging crypto for other assets. Slovenia also offers 72 shops and 33 sports venues where you can pay in bitcoin or altcoins (Crypto Global Capital).
The Netherlands
The Dutch government has done its part to encourage cryptocurrencies and announced back in 2018 that it would research blockchain reliability, sustainability, and how to manage and govern blockchain (Dutch Review). Dutch royals are also fans of digital currency, with Prince Constantijn van Oranje often seen attending blockchain conferences! If it’s good enough for the royals….
Portugal
On the other hand, Portugal does not tax those who profit from purchasing and selling crypto or those who exchange crypto. This is because cryptocurrencies are seen as a form of payment in Portugal, not an asset, with individuals not charged VAT or Personal Income Tax (IRS). Businesses, however, are taxed between 28% and 35% (NASDAQ & Portugal.com).
Germany
Did you know that Deutsche Boerse has listed more than 20 crypto exchange-traded products (ETPs) on its digital exchange, Xetra? Or that Germany’s Fund Location Act allows special funds to invest 20% of their portfolio into cryptocurrencies? Germany is undoubtedly on its way to accepting crypto, which makes sense given that 16% of the German population between ages 18 and 60 own crypto or have traded it in the past six months (Blockworks & Business Insider).
Singapore
Crypto-related investments in Singapore grew from $110 million in 2020 to $1.48 billion in 2021, according to KPMG Pulse of Fintech. Better yet, the crypto sector made up one-third of the $3.94 billion invested in fintech (FXE Empire). Singapore is a center for crypto activities, though there are some downfalls – like that crypto businesses are not allowed to advertise publicly. But we’ll take it.
El Salvador
The president of El Salvador, Nayib Armando Bukele Ortez, has been vocal about establishing El Salvador as a hub for crypto entrepreneurs worldwide. This makes sense after it passed a law that made Bitcoin a legal tender. Bukele has also announced tax benefits on Bitcoin holdings for foreign investors and said he wants the digital currency to help El Salvador “create a haven for freedom.” (Finance Magnates)
Which country will you head to first?
