I was doing some researching as I always do, but this time I was looking into how different countries handle Bitcoin. I’m going to share with you the three in my opinion most Bitcoin friendly countries and the three least friendly Bitcoin countries at a different time.

#3 Most friendly

South Korea is a world leader when it comes to technology. Due to its high number of people who own smart phones and use the internet, Bitcoin has gotten very popular in the country in recent months. This has led to some of their exchanges being among the largest in the world such as Korbit. Bitcoin has become so popular in fact, that the demand for it has exceeded its supply, making the average Korean pay over a 20% premium for one. Recently these exchanges have started adding altcoins such as Ether to the mix, prompting South Korea to become a powerhouse in the world of cryptocurrency. One reason why I put them at number three is because the premiums have made some Koreans unable to buy as much Bitcoin as they would like to have. None the less, South Korea will be a major player in the future, especially for Ether which for a period of time, the Korean Won/Ether pair was the most traded pair in the market.

#2 Most friendly

Canada’s Bitcoin market has been booming recently, with thousands of Bitcoin ATM’s being put in major cities all across the country. And with dozens of exchanges to choose from, Canada is starting to become a huge power in the market. Even better, the government has said they would have a “light touch” on Bitcoin in order to let the technology prosper. Even more surprisingly is that the national bank of Canada is helping along with Toyota and many other large corporations to develop uses for blockchain technology, specifically Ethereum. Even though Canada seems like the perfect spot to be the most friendly, it lacks in comparison to its more populated and more technology driven peer.

#1 Most friendly

Japan has been booming about Bitcoin after their government recently legalized it in the spring. For weeks the Japanese Yen was the most traded currency for Bitcoin and it could be said that in part, the Japanese caused the rise above $2,000. Many different stores in Japan are accepting Bitcoin as payment and unlike other countries, Bitcoin is considered a legal currency unlike in the U.S where it is considered a monetary tool or even a commodity. Several exchanges are trying to get green lighted by the government to operate and Japanese citizens see Bitcoin as a safer investment than traditional stocks, unlike most of the world that sees Bitcoin as either a scam or too risky for their money. Giant companies such as Bitpoint Japan are fully fledged in letting Bitcoin be received as payment for their products or services.

Due to the governments legalization, the frenzy of people investing, and a widespread acceptance of Bitcoin, this is why I placed Japan at number one. This is just an opinion, I am not saying both other countries are not friendly so I hope I don’t get too much hate. If you liked my article, you can donate to my Bitcoin, Dash, Litecoin, Ether or NEM wallet. If you’re broke like me, you can click the affiliate links to get free Bitcoin and free Dogecoin for both of us! Also join my subreddit at /r/Cryptoblog to suggest new blog topics and to chat about cryptocurrency in general. If I get a single donation to any of my wallets for any amount, or 10 new referrals, I will release a bonus article along with my article of the day!

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Sources

https://cointelegraph.com/news/south-korea-is-becoming-bitcoin-and-ethereum-powerhouse

https://motherboard.vice.com/en_us/article/bank-of-canada-enterprise-ethereum-alliance-blockchain-bitcoin

http://www.japantimes.co.jp/tag/bitcoin/