Six Countries for Crypto Enthusiasts
When choosing the perfect place to live, crypto enthusiasts take into account not only the number of outlets that accept cryptocurrency as payment but also the presence of good infrastructure.
As cryptocurrencies develop and the number of cryptocurrency debit cards grows, enthusiasts have realized that direct spending of cryptocurrencies is not the only factor to consider when choosing a place to live. Political stability, a mild climate, and a good internet connection are crucial factors for people who want to be citizens of the world.
In terms of political stability and fiscal policy, this city-state with a population of more than 5.8 million ranks first. Singapore does not tax capital gains from cryptocurrencies.
The government does not recognize cryptocurrencies as a payment vehicle, but MAS makes an exception for several cryptocurrency companies under the new Payment Services Act, giving them a preferential unlicensed period of six months. Singapore also has excellent internet at about 180 Mbps.
Singapore’s political stability makes it one of the best countries in which to register a crypto business. Here, at least 40 outlets accept cryptocurrencies. However, housing costs in Singapore are high, ranging from $1,250 to $2,400 per month.
Australia is a politically stable country regarding cryptocurrencies. Brisbane, one of Australia’s biggest cities, was the first to introduce cryptocurrency payments in local airport stores. According to CoinMap, 22 retail outlets in Brisbane accept cryptocurrencies. You’ll also find a lot of outlets in Melbourne and Sydney that accept cryptocurrencies (30 and 70, respectively).
In addition to shops accepting cryptocurrencies, Brisbane boasts a warm climate, beautiful historical attractions, and excellent beaches where the sun shines 300 days a year. Brisbane is considered one of Australia’s most affordable cities to live in.
Despite the rise in weekly rental rates in Brisbane, it does not exceed $300, and the availability of the city’s rental market as a whole has increased, prompting a rise in migrants from Sydney and Melbourne.
The federal government in the United States has yet to adopt a universal regulatory framework for cryptocurrencies. However, some states are promoting various innovations, but the shortcomings of the regulatory framework are noticeably felt. California stands out for not requiring cryptocurrency firms to obtain any specific licenses.
California developed cryptocurrency regulations back in 2014. The state is not as popular among cryptocurrency and blockchain enthusiasts as other locations, but it is home to the largest number of crypto industry professionals, including Silicon Valley companies. California is also home to major cryptocurrency companies such as Coinbase, Kraken, and Ripple.
In addition to a friendly regulatory framework and a large number of professionals, California is characterized by a wonderful natural climate. However, the cost of living in California is relatively high — the rental price of a furnished apartment in a luxury neighborhood starts at $3,000.
Sweden stands above most other countries in terms of living standards. Here you will find fast internet and affordable and reliable public transportation, not to mention one of the best social security systems in the world.
So far, the country has not developed any specific rules for cryptocurrencies. Sweden’s central bank said in March 2018 that “Bitcoin is not money.” However, several government agencies, including the Swedish Tax Agency, have said that digital currencies are exempt from taxation.
Despite being cautious about cryptocurrencies, Sweden does allow digital payments, and the government is preparing to release its own CBDC.
Sweden is known for its cold winters, but that downside is offset by the availability of winter sports. Another advantage of Sweden is that the country has cheap monthly living expenses compared to many countries in Europe. For example, they could be just over $4,000 for a family of four.
New Zealand has become a cryptocurrency-friendly country even though it has not yet been recognized as a legal means of payment. Having seen the rapid growth of the crypto market in the country, the Ministry of Internal Revenue of New Zealand decided not to create barriers to cryptographic developments.
For many decades, New Zealand has been considered one of the most peaceful places to live. For example, according to a 2018 study by HSBC, British immigrants chose New Zealand as a great place to move with their families. New Zealand has warm summers and moderately cold winters, and the overall climate resembles Britain’s. Additionally, there are at least 40 companies in New Zealand that accept cryptocurrencies a payment.
Liechtenstein is one of the smallest countries in Europe, occupying an excellent place in the Alps between Austria and Switzerland. In October 2019, the country adopted a law allowing the attraction of cryptocurrency companies. The law came into force on January 1, 2020, and introduced considerable clarity about regulating the country’s crypto industry.
The country is a member of the European Free Trade Association, and the country’s cryptocurrency companies can operate on a compatible legal basis with other countries in Europe.
The country has access to broadband internet (100 Mbps). The small country boasts a high GDP and a stable political environment. The salary level in Liechtenstein is one of the highest in Europe. The cost of renting a home ranges from $800 to $1,900 per month.