Currently, the cryptocurrency market is worth over $350 billion and Bitcoin is now valued at $11,000. In this article, we will discuss the various countries that have supported the Bitcoin platform. These countries include:
(Image Source : https://pixabay.com)
Estonia
This Baltic nation over the years has been seen jumping on latest inventions and innovations. The technology friendly government of this country seeks to implement technologies like blockchain to their banking, healthcare and even the governance of citizens, by allowing them to become e-residents.
Estonia is one of the few countries to adopt the e-voting blockchain based technology. It enabled her citizens to be shareholders of a stock exchange. This is also one of the few countries to own a Bitcoin Automated Teller Machine (ATM) and also a P2P global buying and selling startup for Bitcoin called Paxful. The country is positioned in a manner that cryptocurrency users are always welcome.
United States of America (USA)
It is not surprising to know that the US is the one country with the single largest number of Bitcoin users in the whole planet. It also has the highest trading volume for Bitcoin in the world. The US is home to a high number of cryptocurrency platforms, blockchain technology-related new companies and it also has the highest number of ATM's that support Bitcoin on the planet.
Being a financial superpower, most countries look up to the US in terms of regulations and guidance regarding cryptocurrencies and their legal status. States in the US like New York, New Hampshire, and California are the leading Bitcoin states. The USA will definitely serve as the number one testing ground for cryptocurrency regulations in the future, this is because most nations look up to her to see which approach or rulings will be adopted.
Denmark
Not only is this country one of the most developed and technology friendly nations, it is at the forefront to ensure the discard of physical currencies replacing them with digital currencies. This alone proves that it welcomes cryptocurrencies with both arms outstretched.
This beautiful country is home to various blockchain technology startups and cryptocurrencies. Exchanges like CCEDK is based in Denmark. LocalBitcoin has revealed that since the plan to eliminate physical currencies was officially announced, the trading volume has seen gradual and continuous growth.
Sweden
Just like Denmark, Sweden also has plans to eliminate the use of physical or fiat currencies. To crown it all, the Swedish government have legitimatized the use of Bitcoin and other cryptocurrencies as a means of payment in the financial sector.
Also, the country is home to various cryptocurrency and Bitcoin startups. One of them is the Safello exchange and KnCMiner a company well known for the development of hardware ASIC miners. Also, LocalBitcoin has also revealed that there is continuous growth in the trading volume of Bitcoin in Sweden.
Netherlands
This country owns a Bitcoin city which is home to over 100 merchants that accept Bitcoin as a form of payment. Bitcoin owners in the country can buy almost anything with their tokens.
There is no law regulating the use of cryptocurrencies in this country. This reason is why there are several cryptocurrency related startups. A Bitcoin embassy and numerous Bitcoin ATM's can be found in major cities like Amsterdam.
Conclusion
There are other countries that support the use of Bitcoin, but these mentioned above are more significant.