There is no doubt that Bitcoin is the world’s most famous and widely-used cryptocurrency and because of its rising value merchants and countries started to accept Bitcoin as a payment method.
Nowadays, several countries made it legal to use Bitcoin as a payment method and made it possible to get profit through Bitcoins, as well. In this article, you’ll get information about the countries and cities, which adopted Bitcoin as a payment method and are using it in everyday life.
Until going into depths, it should be said that the number of well-known companies that are allowing their customers to pay with Bitcoin is growing rapidly. For instance, a luxury US hotel chain Uber allows customers to reserve their preferred hotel by using Bitcoin. What’s more, one of the most prominent companies PayPal allows its users to buy and sell Bitcoins through PayPal accounts.
The United States of America
The United States is one of the countries, which allow people to use Bitcoin as a payment method. However, it should be said, that as long as it’s a federal country the jurisdiction for each state is different. So, while trading through Bitcoins traders need to find whether it is legit to trade with Bitcoin in a certain state or not.
The USA has taken positive changes about using BTCs as a payment method since 2013. There are several cities in the USA which are Bitcoin hotspots, including San Francisco, which is home to several cryptocurrency trading platforms. More specifically, more than two dozen merchants are adopting Bitcoin as a payment system.
Bitcoin payments in European Union
Most of the EU countries are allowing residents to use Bitcoin while paying. However, there are some exceptional countries like Germany, that prohibit Bitcoin trading. One of the most famous countries in the EU, where it’s allowed to use BTC as a payment method, is the Netherlands. The capital city of the Netherlands – Amsterdam is home to one of the most well-known hardware makers Bitfury. In Amsterdam, where the number of residents is 840 000, the above-mentioned digital currency is widely used and enables people to pay for numerous services. What’s more one of the most prominent EU countries which are using BTCs for payments is Slovenia. Ljubljana, which is the capital of the aforementioned country is the place where the prominent bitcoin exchange Bitstamp was established. The number of the city’s residents is around 290 000 and there are more than 200 service suppliers that are adopting BTCs as the main payment method.
Since, there are many countries, which adopt BTCs and allow people to pay through digital currencies, more and more people are starting to get Bitcoins. Therefore, people’s interest in where and how to buy Bitcoin is growing respectively. There are several sites and platforms that furnish people with different services. So people have to research and see what are the main advantages of getting BTCs through a certain platform. What’s more, every process for buying Bitcoin is conducted in an online way.
Switzerland is the prominent country among those states which allow people to use BTCs for taxation purposes. It can be said that Switzerland is one of the pioneer countries, which accepted digital currency as a payment for some public services. Switzerland started the trial scheme from the town of Zug, which is also known as the crypto-valley, because of its attitude towards cryptocurrencies. What’s more, Zug wasn’t the first location in Switzerland where it was adopted paying taxations through BTCs. Zermatt, which is also one of the most resided municipalities, allowed swiss people to use BTCs for payment purposes, including for public services. Moreover, Swiss Federal Railways, which is a government-owned railway company allows people to buy tickets with Bitcoins.
Countries where the BTC is legal
Numerous countries around the world permit people to trade with BTCs. Some of them are the above-mentioned countries. Except for them, countries, where you can trade legally BTCs, are
- South Africa,
- South Korea,
- and many more.