4 European Countries Best Suited for Crypto Investments
When we think of using Cryptocurrency, there is a lot of difference from one country to the other. Especially in the case of bitcoin or Cryptocurrency, almost each and every country reacts in a different manner. Legally there is a lot of difference from one country to another. The government has laid its concern on it.
Talking about investing, let me tell you that Estonia has already decided to run all the businesses using cryptocurrencies. In this country, most of the companies have gladly accepted bitcoin, mostly, and Estonia is one such country which has the largest number of internet penetration.
In some parts of the country, a considerable number of Bitcoin ATMs have been established. Many of the Bitcoin Investors of Estonia are ready to take the use of Cryptocurrency to another level. Estonia is looking forward to bringing out its own Cryptocurrency known as ‘estcoin.’ Technically this is not a cryptocurrency; it is a token that will primarily be used in Estonia.
Estonia is also working towards making its residents’ e-residents, the residents will be given some digital identity card using which they will be allowed to get any service and product. We will talk about the kind of development that has been noted in European countries regarding the use of digital currency.
Top 4 European Countries Suited for Cryptocurrency
Globally, there are many countries that have been banned from using Cryptocurrency, while there are many countries that are not allowed to use them. But luckily, there are some countries that have the opportunity to use and make use of cryptocurrencies easily. Here I have brought you the top 4 European countries which would suit the Cryptocurrency. I will just give you a brief about the countries here, read below.
Denmark is one of the European countries that has kept bitcoin very personal. This means that bitcoin is not taxed, and the government does not want to interfere in the bitcoin income of its citizens. Hence the use of Cryptocurrency is very open in Denmark, and it is wholly exempted from any kind of taxation.
Well, different countries have different rules, as I had already mentioned earlier. In the case of Germany, it is a little different. Germany has decided to let the citizens earn bitcoin to 600 Euros. As soon as someone makes more than 600 Euros, then he has to pay the taxes. The capital that the citizens will make up to one year on the investment will be tax exempted.
In December 2017, the president of Belarus, Alexander Lukashenko, who signed a decree for the development of the digital economy in the country. Terms like Cryptocurrency and smart contracts have been legalized by the president of Belarus, facilitating the citizens to use it. This is not just it; Alexander Lukashenko also made Cryptocurrency and smart contracts tax-free till January 2023.
This is another European country that has been very convenient for its citizens, and according to the 2013 rules of Slovenia’s Corporate Income Tax Act, if any citizen earns capital using Cryptocurrency, then that will not be taxed anymore. But it is only prevalent if the investor is an individual, not in case of a company or organization.