Bitcoin-Friendly Countries

Bitcoin adoption and acceptance is surging across the globe. Cryptocurrencies will in the near future become much more common as methods of payment from online shopping to the local supermarket. Developing countries are leapfrogging.

• China Bitcoin markets account for 80%+ of global trading volumes.

• Japan has accepted BitCoin as a legal payment method for retail markets. Japanese government has eliminated 8% consumption tax on Bitcoin transactions. Retailers are deploying point of sale software in over 260,000 stores.

• Russia has taken a U-turn and has committed to recognizing cryptocurrencies in 2018.

• In the US, cryptocurrencies are becoming increasingly accepted as both a method of payment and store of value.

• In Australia, new innovative digital currency businesses will find it easier to operate. Traders and investors will be exempted from goods and services tax.

• In India, the Ministry of Finance has ruled in favor of regulating Bitcoin.

• In Venezuela, Bitcoin has become a parallel currency with which citizens perform day-to-day transactions and generate livelihoods, including buying food and other basic necessities. Official money is worth almost zero.

• In South Africa, cryptocurrencies are becoming popular.

• In East Africa, initiatives like BitPesa are using cryptocurrency systems to support cross-border transactions.

• In Nigeria, people are believing that this new money presents an opportunity to democratise the economy.

• In Zimbabwe, the collapse of the country's financial system has made Bitcoin an attractive alternative. A growing number of Zimbabweans are using cryptocurrencies as a saving mechanism.

Several other countries are either warming up to cryptocurrencies or already host cryptocurrency startup companies.

The future looks bright for cryptocurrencies. Either as a new currency that will replace current fiat currency or as a store of value or as a payment system or as an alternative investment asset. Hold onto your bitcoins for the long term.