In this article of QuantVan Academy, we want to consider and name famous and most known Countries Investment on Cryptocurrency .
Cryptocurrency has been attention grabbing for investors, consumers, and governments alike. Businesses and investors have not flinched from recognizing the potential of crypto and the technology is becoming more and more accepted. Governments across the globe, however, have taken drastically different approaches towards the emerging sector.
Whatever the individual case for a country, the growth in cryptocurrencies in the last decade has shown that there is strong momentum around this new technology.
Here we have listed five countries that are major hubs for activity and investment in the cryptocurrency and blockchain field.
Since Japan is among the few countries to recognize cryptocurrencies as a legitimate means of payment, crypto exchanges have high transactional traffic in this country and the government has defined legal system that regulates cryptocurrency trading, Japan is now the leading country in digital currency adoption by holding over 3.5 million cryptocurrency investors, close to 2.8% of its population.
The statistics of the cryptocurrency market in the country include the demography of the cryptocurrency investor, which show that 84 percent of all cryptocurrency investors in Japan are between the ages of twenty and thirty-five.
the total volume of cryptocurrency trading was almost 5000 times higher in 2017 from 2014. The 2.35 billion yen traded in 2014 has given way to 10.3 trillion yen ($97 billion) during fiscal year 2017, which began on April 1, 2016 and ended on March 31, 2017. Japan is the No. 1 country in this asset class according to the website Cryptocompare. The country’s fiat money, JPY, accounts for 62 percent of the money invested in bitcoin worldwide.
Japan has eliminated the consumption tax on Bitcoin trading, as one of the most famous cryptocurrencies, on April 1, 2017, when it officially declared Bitcoin as a legal tender. Japan also eliminated the possibility of double taxation on trading of Bitcoins.
Momentarily, the United States are home to most of crypto endeavors and activities.
with a large number of exchanges, trading platforms, funds, crypto mining facilities, and blockchain-oriented projects.
The U.S. has the highest number of cryptocurrency users in fields of Investment on cryptocurrency.
8% of its population, the highest number of Bitcoin ATMs and also the highest Bitcoin trading volumes globally.
There is a major gender gap in cryptocurrency holding. with just 4.27% of women saying they own cryptocurrency compared with 11.86% of men. And the average amount of bitcoin purchased by women is just $1,821.65, compared with $3,923.16 for men.
In the United States, cryptocurrencies are considered as assets.
crypto investments are subject to long-term and short-term capital gains tax.
The three most popular cryptocurrencies are bitcoin, with an estimated 5.15% of Americans surveyed owning an average of $3,453.89 in BTC; ethereum, with an estimated 1.80% of people owning an average of $1,243.42 in ETH; and bitcoin cash with an estimated 0.90% of people owning an average of $636.22 in BCH.
With a penchant and skill for tech, the country now hosts an overabundance of exchanges and crypto businesses.
it cater to a population that has an increasing interest in trading and using cryptocurrencies.
According to Arirang Daily News, the average investment per person shot up 64% to over $6,000.
with following the survey, it was older investors who were the most common crypto buyers.
who were in their 40s and 50s which is signaling an increase in confidence amongst the older generation.
The average cryptocurrency investment by middle-aged South Korean investors has doubled over the past year. Also, the median amount invested in cryptocurrencies by retail investors in the country has increased since 2018.
signifying a rise in confidence despite the bear market.
There are currently no laws in South Korea regulating the use of Bitcoin.
as one of the most famous cryptocurrencies, where people are able to buy Bitcoin in 7-Elevens.
The government seeks to provide better protection for its citizens investing in cryptocurrencies , while ensuring that innovation in the sector is not crippled.
the government security audit assesses the security level of crypto exchanges.
also approves those that are less vulnerable to hacks and with excellent safety measures in place.
cryptocurrency ownership in Canada appears to be growing rapidly, as one might expect as the industry begins to mature.
According to the survey 16.55% of Canadians invest in cryptocurrencies ,therefore the proportion is very high in compare with other markets.
The survey also found that more men, at 19.45 percent, had bought cryptocurrency than women, at 14.10 percent. As well as another expected result considering the young, male dominated technology demographic: 31.68 percent of millennials had purchased cryptocurrency.
More Canadians from central Canada, at 17.67 percent have bought cryptocurrency than those on the west coast, at 11.11 percent the Atlantic region at 16.80 percent.
Toronto is included in Central Canada and is a hub for blockchain and cryptocurrency.
the higher ownership in this region is not surprising.
While Vancouver as the western hub of Canadian blockchain and Atlantic Canada lacking in this arena has lower rates.
Switzerland is one of the most attractive destinations for cryptocurrency and blockchain projects. It is mostly famous for its cutting-edge banks and financial institutions and recently turns to a cryptocurrency and blockchain hub.
Banks started opening their doors to cryptocurrency payments. with a move which has encouraged many of its citizens to dabble into cryptos, mainly because they now have a form of security.
Switzerland’s financial markets regulator approved the Swiss private bank for Bitcoin asset management. potentially paving the way for other global banks to offer digital currency products.
Cryptocurrency officially labelled as a foreign currency in Switzerland.
no capital gains tax is levied on most traders in the country.