Hello Internet, in today’s generation most of the countries of the world are very much interested in the Cryptocurrency. But there are also various countries where Cryptocurrency or virtual currency is totally banned. But today in this article we are going to explore the top 5 countries who are interested in the Cryptocurrency or who are very active in the Crypto world. Top 5 countries which are very much active in the Crypto world are listed below:
- South Africa
Do you want to know the name of the top 10 countries who are interested in the Cryptocurrency? If yes then they are listed below (its bonus):
- United Arab Emirates
- St. Helena
Now let’s explore above mentioned top 5 countries in detail:
Slovenia ranked first in this list, it is a European country which is known for its Ski resort, lakes, and mountains. Slovenia is also very much famous and very much active in the Crypto world. Cryptocurrency is not illegal in this country however country is planning to implement Initial Coin Offering (ICO) regulation. Slovenia is an attractive country for Cryptocurrency investment, the country wants to move ahead in technologies and digital world. So due to this reason the government is giving huge focus to the blockchain technology. Slovenia is currently very much busy creating world-first Crypto shopping mall where you can buy any goods and services through bitcoin and other cryptocurrencies. You don’t have to bring your physical currency, simply you can pay all the expenses through virtual currency. The name of this shopping mall is BTC City Shopping Mall and it is situated in the capital city of Slovenia.
Singapore is in the second position in this list, it is sovereign country located in Southeast Asia which is a global financial hub. Cryptocurrencies are totally legal in Singapore, there is a taxation system for cryptocurrencies as well. It is clearly stated that any business that deals with bitcoin currency exchange then it will be taxed according to their bitcoin sales. Singapore is moving very fast in the Cryptocurrency world and it could be the first country to fully embrace cryptocurrencies. Singapore was the first country who started regulating the usage of virtual currency in 2014 by imposing a certain percentage of tax. Cryptocurrency has a very strong government support in Singapore and the authorities in Singapore is very much interested in applying blockchain technology to their advantage. We can find various shops and café in Singapore which accept the digital currency. Asia first Cryptocurrency visa debit card is about to come to a Singapore which will be linked to fiat and Crypto wallets.
Australia is one of the richest countries in the world. We can find people from all over the world staying in Australia for study, employment, and for other purposes. Similarly, Australia is equally famous for Cryptocurrency trading, Australia is in the third position in this list. Cryptocurrency is totally legal in this country, on 1st July 2017 Australia has confessed that they will treat Cryptocurrencies same as money. The market of Australia for bitcoin is growing very rapidly, in April 2018 Australian dollar saw volumes of 276 BTC over a just 24 hour period. The Australian government had already implemented a new system on Cryptocurrency exchange. According to this system now digital currency exchanges which are located in Australia must have to register AUSTRAC and it must have to meet Government policies. Many bitcoin and other Cryptocurrencies investors are emerging and growing in this country because it is very easy and secure and has a very strong government support.
South Africa is a beautiful country whose official name is ‘The Republic of South Africa’. South Africa is also very much active in the Cryptocurrency and its industry is booming and moving at a very high speed. In December 2014 the reserve bank of South Africa issued a position paper and in that paper, it is stated that digital currencies had no any legal status. South Africa had already classified bitcoin and other Cryptocurrencies as an Intangible asset. South African are purchasing huge Cryptocurrencies and the exchange options are still growing at a very high speed. Recently in South Africa, new Cryptocurrency platform BitFund is already launched which offers access to approximately 20 largest virtual currencies worldwide. Let me tell you that in South Africa the safest, easiest, and convenient way to get investment exposure in Cryptocurrencies world is by buying Bitcoin and Ethereum. In this country, we can find several stores accepting virtual currencies or digital currencies.
Cyprus is another beautiful country which is located in the south of turkey, and west of Syria and Lebanon. In this list, Cyprus is in the fifth position. Cryptocurrencies are totally legal and the use of bitcoin is not regulated here. In Cyprus, we can find the University named ‘The University of Nicosia’ which offers a program in Cryptocurrencies and blockchain. This university was the first school offering these kinds of program, this university came in existence to fulfill the gap between the supply and demand in the field of virtual currencies. Recently Ripple blockchain had donated approximately 50 million USD to all the Universities of the world including University of Nicosia to create awareness about the Cryptocurrency or virtual currency. Cyprus is very much attentive and focused on virtual currency, this country believes that education on Cryptocurrencies and blockchain is very much important. Due to this reason, Cryptocurrencies industry of Cyprus is moving at a rapid speed.
Cryptocurrencies are a virtual currency which is not controlled by any institution, it allows its users to conduct the transaction electronically. In this technology world many countries have accepted digital currencies and in many countries, it is totally banned. It has both advantages and disadvantages, acceptance and rejection depend upon country policies. Thus, in the above paragraphs, we have talked about the top 5 most active countries in the Cryptocurrencies world and the above data is based on Google trends.