Cryptocurrencies offer a number of advantages when compared to fiat currencies. For starters, lack of central control means it’s hard to overproduce copies of these currencies which can lead to inflation. Another advantage is how easy and fast one can transact using them which makes them more preferable compared to paper money. However, not everyone has been very welcoming to them especially governments and some institutions whose existence these virtual currencies threaten, but not every country has been hash towards cryptocurrencies and some have been very welcoming. Below we are going to have a look at 3 countries that are very open to crypto investments.
Sweden
This is one country that has embraced virtual currencies and it’s open to crypto investments. The government of Sweden has started an initiative to eliminate the use of paper money. They have introduced negative rates and crypto coins like Bitcoin are highly in demand as many see them as a way of storing wealth. The crypto fever is heating in the country an already there are a number of Bitcoin startups that have been launched.
Estonia
The government of Estonia has heavily invested in infrastructure to make the small European nation a leader in technology and innovation. Already there are a number of tech-friendly innovations that have been implemented in the country. The blockchain is already in use for banking services, healthcare, and governance. Also, there are a number of Bitcoin ATMs in the country and startups like Paxful that have already been launched.
Denmark
This European nation is one of the most technologically advanced nations in the world with high living standards. Like Sweden, the country wants to eliminate paper money and move towards virtual currencies. Already there are plans for mass adoption but it’s not clear if Bitcoin is going to be used or alternative options will be developed. The Danish government has already declared Bitcoin is not a currency and therefore it’s exempted from regulation.
These are a few nations that are on the forefront of cryptocurrency adoption and over time many more countries are expected to follow suit.