Countries Where Bitcoin Is Accepted And Those Who Remain Skeptical

We all know Bitcoin to be a digital cryptocurrency, but slowly it started gaining global acceptance. If you have to select the best option, start trading at bitcoin-motion.cloud

There are several examples where countries have shown interest in accepting bitcoin payments. Around 15,000 companies globally accept bitcoin, and many others are on the list. 

With the growing regulation coming into the picture and gaining expected acceptance, the enthusiastic financial investors can soon witness bitcoin share and equal in position to that of Fiat currency. This informative highlights the global overview of bitcoin; read on to know further in detail!

Where In The World Is Bitcoin Accepted? A Comprehensive List

Countries that use Bitcoin as offic...
  1. United States of America – whenever we talk about some of the prominent nations making an investment in bitcoin or showing inflammation towards the use of bitcoin, USA emerges as the first option. It should not be surprising that around 22% of the American population possesses Bitcoin. 
  2. El Salvador– The country’s decision to accept bitcoin as a legal currency was revolutionary. It highlights how significant bitcoin is in the financial market. El Salvador has declared it to be a legal tender currency.
  3. Canada- The next name that adds to our list is Canada. This country has also shown a positive approach to the world’s trip to currency and its acceptance. The Canada revenue agency has recognized it as a commodity and has also introduced regulatory steps to ensure that bitcoin gains maximum acceptance. Many small businesses in Canada are now paying using cryptocurrency.
  4. AustraliaFollowing the footsteps of the USA and Canada, Australia has also considered bitcoin legal. However, certain regulations need to be followed for anybody who is willing to use bitcoin as a cryptocurrency. The buyers must follow the anti-money-laundering and counterterrorism financing act. Moreover, cryptocurrency trading and transactions come under the subjugation of taxation in Australia.
  5. European Union When 2015 was a revolutionary year in Europe, when their Open Court of Justice declared that buying and selling cryptocurrencies in the European Union countries would be exempted from the VAT. There is henceforth a project that promotes the use of cryptocurrencies.

Bitcoin Blacklisted: Which Countries Don’t Accept The Cryptocurrency?

While many nations are supporting cryptocurrencies, others don’t consider them to be legal and have banned them. The first name that emerges here is China. However, in China, there has been considerable development in developing cryptocurrencies, and it is also promoting Blockchain. 

Recently, China also announced the launch of its national cryptocurrency with the name digital Yuan. Anybody willing to trade or invest in digital Yuan must register on the trading platforms promoting its buying and selling. Bangladesh, Egypt, Morocco, and others or some of the nations that are not in favor of bitcoin or any other cryptocurrency. The latest addition to this list was Russia. 

There were rumors that Russia would be banning cryptocurrency mining and another process. This has eventually led to the downfall in the pricing and value of bitcoin. Despite the turmoil in the international market, bitcoin hasn’t lost the interest of its investors. 

Bitcoin Investing: Platform Matters More Than You Might Think

If you are keen to invest in bitcoin and looking forward to the right way of doing so, then your first step should be to register yourself on a crypto trading platform. This platform works actively to provide you with the right trading strategies and methodologies to help you trade risk-free and worry-free. 

This trading platform is backed by an advanced algorithm that ensures you get the right interpretation of the crypto market. With the right trading tips and your research on the crypto market, cryptocurrency investment can be highly profitable.

Conclusion 

Over the last couple of years, the price of Bitcoins has gone quite far. Unfortunately, not every country has made a clear decision as to how it feels about this cryptocurrency; some countries are in favor of using Bitcoins as legal tender, while others have banned them entirely due to various reasons. 

If you want to know where you can legally spend your Bitcoin investment or how to convert your Bitcoin back into cash, you need to know which countries accept Bitcoins and which ones don’t.