“As you know, we have been working hard to deliver a unique project — the “Crypto City” in the Philippines, Noah Сoin (NOAH) will be used within the Crypto-City. Customers will be able to transact in both fiat and other cryptos, but whenever they use NOAH, they will get huge discounts on services.” — Josef Werker (Noah Foundation)
Today, there’s still a lot of FUD, misunderstanding and fear about the cryptocurrencies among regulators and the general public at large. It seems that the governments in the poorest countries, just where crypto would be able to make the biggest difference in the lives of people in the streets, tend to hate crypto most. They are on the rampage with all kinds of bans, rules, regulations, ordinances and any other measures that can help them “protect their beloved nature”. At the same time, they are trying to roll out their cryptos. That’s just unimaginably hypocritical. The very core — decentralization — goes against everything that they believe in. The crypto poses an existential danger to them, so no wonder that there’s a lot of FUD coming from such countries.
In contrast, the more connected and developed countries are, the better outlook they have on cryptos and blockchains.
That’s why, the rule of thumb as to which countries are the best picks for living and working off with cryptocurrencies, is to choose the one with the highest Internet penetration and a drive to promote democracy values.
#1 Estonia
As of now, Estonia seems to be the best country for those who wish to transact in bitcoin and get as close as they can to the crypto-world. The country has been wooing tech companies and, notably, Skype has chosen this very country to set up its headquarters.
And now, Estonia has been working hard to win hearts and minds of the future leaders in crypto with an important victory over Ethereum that found its home here.
The government here is probably the most active in pushing distributed ledger technology both in the public and private sectors. For instance, the healthcare records are currently being digitized and transferred to the blockchain, which will surely bring a huge uplift in transparency and productivity.
And if you are not up to relocating to Estonia right now, you can apply for e-citizenship there, which will open up access to international payment systems and give you all other kinds of perks.
#2 Switzerland
Zug, Switzerland, is actively vying for the status of the “Bitcoin Valley” by offering lowered taxes, beneficial incorporation terms and a financial culture that is open to cryptocurrencies and blockchain-ified systems.
No wonder that this country is among the top destinations for anybody who’s crazy about crypto and doesn’t want to face regulations and suppression by the local authorities.
#3 Singapore
This small nation is on the verge of completing the push to digitize its currency and place in on Ethereum. After having done that, the country will be a unique poster child for government-driven efforts to promote crypto.
Southeast Asia might probably be the biggest winner for an introduction of cryptos, since countries here have low penetration of banking services, while also featuring a wide popularity of mobile phones.
#4 South Korea
In spite of numerous examples of FUD-inspired hysteria about South Korea quitting on crypto, it’s not going to happen. This country will surely be one of the major drivers behind the movement to adopt crypto globe-wide.
It’s a well-known fact that following the blanket ban on crypto and crypto exchanges in China, the bulk of traders shifted to the companies registered in South Korea. This factor alone distinguishes the country among any other Asia-based contenders for the status of the best country to live off crypto.
#5 Best places to incorporate
Quite often, crypto teams don’t wish to move, but they look for the best jurisdiction/s to incorporate their businesses, winning from friendly regulations and a concentration of business angels and VC in local tech hubs.
Belarus and Gibraltar offer some of the best conditions for incorporating your business. Although these might not be the best places to live off crypto, but they can help you guarantee security and ease for saving and investing money in ICOs and crypto initiatives. If you currently reside in a country with ambiguous legislation, setting up the business in Belarus, Gibraltar or Estonia can protect you against any problems with your local authorities in the future.
Just as there are the best countries for crypto enthusiasts, there’s also the worst of the worst. For instance, Bangladesh, which has a huge population, but an extremely low penetration of banking services, completely banned bitcoin and anything crypto. Vietnam, China, Venezuela, and Ecuador seem to be the most belligerent haters of virtual currencies.
In addition, there are those countries that are being cautionary with their steps. These are the biggest economies, including US, Canada, Russia and others. Although they don’t want to squash a potentially world-changing technology, they aren’t open arms towards it either yet.
In the future, our project to create the Crypto City in the Philippines will give a chance to crypto-enthusiasts to chill out and network at the same time.
Lots of sun, music, bars and ocean will help you soak in the fun and leisure lifestyle, re-energizing before getting into new endeavors in the crypto-world. The vacation center is expected to draw in lots of Japanese, Chinese and Korean visitors, opening up the Philippines to investment and cultural exchange. Our team is proud in having a key role in developing the “crypto leisure” segment that will gradually blossom into a big industry, as this happened with online gaming after the Internet boom.
