The United States gets quite a bit of the limelight when it comes to talk of crypto- but these six other countries are starting to take the lead on adoption.
In little more than a decade, bitcoin has become a familiar term to the majority of people living on the globe. Whether or not the fundamentals and underpinnings of investment are well understood by all- most people are almost guaranteed to have heard of it. While some countries struggle to decide whether or not they want to embrace the adoption of digital currencies- others are going in with gusto.
Exchange sites like Bitvavo have fielded these rapid market changes brilliantly. As some of the highest rates of adoption are being seen in some rather unlikely places, keeping up with changing trends is a must. Making it more important than ever to find an exchange that can provide necessary guidance in highly volatile markets. Because in the true fashion of bitcoin, the market continues to pivot in mysterious and exciting ways.
The countries where bitcoin is picking up speed
While there’s quite a bit of conversation regarding crypto adoption in places like Japan, Germany, and the United States, no one seems to be surprised that these countries are hubs for the ever popular bitcoin. But as more people begin to become comfortable with the benefits that digital currency can offer, particularly in the event that users participate in global and cross-border finance or have to contend with excessive local deflation/inflation rates- cryptocurrencies like Bitcoin offer a better option for banking. Something these 6 countries are quickly coming to terms with.
Slovenia
In Slovenia, it’s more than just investments that have gripped the attention of crypto users in this often-overlooked European Union state. In Slovenia, over 1,000 different unique vendors and locations now accept cryptocurrency and bitcoin payments for services and goods. The go-to merchant for these digital payments is the Gocrypto payment network, boasting a huge jump in the number of physical locations that now accept cryptocurrencies like bitcoin, bitcoin cash, ethereum, and the euro token. Helping to give Europe the nudge it needs to fully integrate into a more widely accepted digital ecosystem.
Malta
As early as 2018, the Maltese parliament proposed and passed three bills that clearly describe the legality and legitimacy of cryptocurrencies, creating a rock-solid foundation for enthusiasts of the decentralized finance world. The country has been touted as ‘Crypto Island’ as its sunny shores are home to a regular and well renowned Blockchain Summit. The country also touts itself as a huge supporter and driver of Europe’s blockchain adoption, joining just 7 other EU countries that signed a declaration promoting blockchain’s advocacy. With their Prime Minister quoted as saying that bitcoin and other cryptocurrencies are the “inevitable future of money.”
Singapore
Singapore is a well-known base for many fintech and crypto businesses, as some of the top names in cryptocurrencies have set up shop within its borders. In 2018, the country even exceeded the US with the number of ICOs released. The country also proudly offers favorable tax laws and clear legislation regarding crypto-related business rules. Making it a clean-cut choice for a number of fintech firms.
Argentina
Perhaps presenting the best argument for widespread public adoption of cryptocurrency, Argentinians have shown the real-life perks that people can expect from embracing decentralized finance. Because of crippling monetary policy, many citizens have turned towards digital currencies for a way to keep their money from being subject to instance deflation and banking fees. The country itself has also taken a positive stance on crypto, partnering fintech with public transportation services, which enables users to pay their fares in BTC.
Switzerland
Switzerland has long been known as the country to look towards when considering finance. Following a crypto regulation faux pas that resulted in a number of fintech businesses routing their focus elsewhere, the country reconsidered their stance on digital currencies. With subsidies being provided to blockchain business and private banking institutions now working closely with digital currencies, the country is back on track to being a top spot for bitcoin business.
Gibraltar
Following the lead of the Maltese, Gibraltar is hoping to get on the map with cryptocurrencies. Often overshadowed by its popular neighbor, Spain, Gibraltar often looks for inventive and exciting ways to up tourism, notoriety, and business relations with other countries. One of the biggest being their stance on cryptocurrency. With clear and inclusive regulatory policy, the country sets themselves up as a favorable choice when it comes to setting up crypto and blockchain business. They’ve even gone as far as solidifying the advocacy for the technology with subsequent generations by offering blockchain and DeFi courses at universities.