It is now evident that many countries and their people are massively adopting Bitcoins. The massive shoot-up in prices has made this happen. Countries come up with their rules and regulations to make the biggest crypto comply with the economy and people are looking for ways to earn profits by investing and trading with it. Although many nations are hesitating in giving a chance, there is another set of countries that are busy dispensing them. In this article, we will talk about the top countries that have adopted Bitcoin on a large scale. So, let’s look at them.
Top Countries That Have Adopted Bitcoin
1. Malta
Whenever there is a conversation about crypto-favouring countries, it cannot start without this one. Malta is quite confident about crypto adoption and for that, it has already passed crypto rules and regulations. There are three blockchain and cryptocurrency bills that work as a guide for all crypto firms to deal with these digital assets. After the rules were passed, the country observed a quick rise in the number of crypto businesses. Not only this but crypto firms from other regions are coming to Malta. That’s why exchanges like Binance, DQR, OKEx, and many more feel like home here. One can also say that if there is any crypto island, it is Malta. It also hosts its own blockchain summit focusing to expand the scope of blockchains and cryptocurrencies to other parts.
2. Singapore
Next on our list is Singapore. The country has been a wealthy one in the South Asian region because it has supported every type of business. Singapore is an old player when it comes to adopting virtual assets within the region. A plethora of crypto businesses like Huobi, CoinGecko, Litecoin, and others are getting flourished in the market. People assume that the USA is a significant country for cryptos to grow, however, Singapore has observed more ICOs from the year 2018. Many firms from Korea are trying to collaborate with the ones from this country. Korea is at the minimum distance and it will certainly benefit while doing business with Singapore. Its MAS has introduced an efficient crypto law that will take care of crypto business settlements with foreign companies.
3. Switzerland
Switzerland was favourable towards cryptos and many experts called it to be the one promising for cryptos. After a few years when other countries were struggling with their economies, Switzerland made its mind to snatch up any support for crypto businesses. According to its former law, the banks operating within the region will not deal with cryptos for investment purposes. However, when Bitcoin gained traction, Switzerland revised its crypto regulations and came up with the one that will offer minimum support of a hundred million dollars to crypto businesses. Several crypto firms are flocking towards the country and exchanges like Binance and Coinbase are looking to expand their business from here. Banks and other groups, like Swissquote and FPB, are offering crypto-custody solutions. Recently, its popular crypto exchange, SIX, has listed Bitcoin and other popular cryptos. Within a short time, it also will pave way for Ripple.
4. Gibraltar
Gibraltar is also following the same steps as Malta. The country has caught its attention to the wave of virtual assets flowing in the economy. In 2018, it came up with a regulation for every cryptocurrency wallet and exchange within its boundary. Besides them, the regulation would cover all crypto issues and crypto payment services. It has made every crypto tax-related issue clear and this will make the country come into a grey zone. Many ICOs have been arranged and they are all set to come to the country’s GBX. With the help of this crypto exchange, people can trade with Bitcoin and Ethereum. As Gibraltar will observe more success with these two cryptos, it will surely list down the other popular ones. Besides GBX, CoinFloor has started its operation after taking approval from the regulator. It has also tied-up with eToroX to boost the crypto business within the country.
Conclusion
So, we have seen the top countries that have adopted Bitcoin and other cryptos. Many of these are examining other altcoins besides Ethereum and Litecoin. Till then, both businesses and traders can take benefits from Bitcoin within these countries. Bitcoin has reached its all-time highs and a trillion dollars market capitalization, making it the most-sought one in the world of blockchains and cryptocurrencies. As time passes by, other cryptos will get adoption and more ICOs will get launched among the masses. Cryptos have undoubtedly brought a decentralized revolution and an affordable system for people to send and receive transfers. Countries that are favouring cryptos contribute to their own growth and that of these virtual assets. Within the next coming years, these countries will offer a new edge to their economy and we will observe a more active boost to the adoption.
