These countries are crypto hotspots

More and more people see migration to another country primarily as a career opportunity. This also applies more and more to traders in the crypto scene. Some countries have become hotspots.

Friday 14/10/2022 at 12:34 p.m|last updated: Friday, 14.10.2022, 14:38 Reading time: 5 minutes |

It’s not always just the beautiful landscape, the weather or the love: the job can also be a good reason to emigrate. One of the fastest growing industries in recent years is the cryptocurrency space. Anyone who deals with the matter for a while will notice that not all places in the world are equally suitable for a career in the crypto industry. Some countries have blossomed into veritable hotspots that offer ideal conditions for a good income through a job in the crypto scene. Below we would like to present some of these potential target countries for crypto enthusiasts.

Migration as a career option: on the trail of the crypto scene

When it comes to the question of whether it is worthwhile to move to the crypto industry, the most important thing is what plans and expectations are attached to a career in the crypto market. Those who primarily want to be active as investors and traders can also do this from Germany due to the digital nature of cryptocurrencies. If you want to buy particularly popular and common cryptocurrencies such as Bitcoin and Ethereum and sell them again if the price develops positively, you are not tied to a particular place. For a deeper insight into the crypto scene, however, it may be worth taking a look at the world’s crypto hotspots. This is where the most successful startups and the major players in the industry are based.

Singapore

Singapore has long been considered a veritable paradise for financial services and has gained a reputation as a very crypto-savvy nation with the triumph of bitcoin. One reason is the low taxation of capital gains. Well-known companies such as CoinGecko or Crypto.com have therefore pitched their tents in Singapore, and private investors are also drawn to the island state south of Malaysia. Although the current government has now announced that it will implement clear regulatory measures in the near future, many experts believe that these are fair and in no way disrupt the business of honest market participants.

Switzerland

Switzerland, on the other hand, is in the middle of Europe and is still an island in terms of crypto-friendly framework conditions. While stricter regulations are planned in the EU, Switzerland still maintains a very liberal policy regarding the crypto industry. This is also because official efforts are being made to integrate cryptocurrencies even better into the everyday life of the Swiss population. In some places, the tax authorities even allow tax payments in the form of cryptocurrency. In general, the canton of Zug is of great importance, and since it has become a real magnet for companies from the crypto sector, the term “Crypto Valley” is also used internationally. More than half of the approximately 1,000 companies in the industry are based in Zug.

Portugal

Like Singapore, Portugal has long been considered a tax haven for capital market transactions. Although crypto trading is also no longer completely unregulated and tax-free here, the conditions for businesses in the industry are still ideal. Many fintechs working with blockchain technology and digital assets already have their own branches in Portugal – including the Berlin-based company Fiona.

Malta

Malta is a hotspot worth seeing not only for gaming providers but also for crypto fans. Similar to Gibraltar, the Mediterranean island relies on very crypto-friendly legislation and tax policies. Malta is even so attractive that the major trading platform Biance has now moved its headquarters to the island. Founders Bank, a decentralized credit institution that will enable investors to participate by purchasing internal tokens, will also open on the site shortly.

Japan

Also surrounded by water, but much further to the east is Japan. In the Kingdom of the Rising Sun, digital means of payment are well-disposed, and people benefit above all from the People’s Republic of China’s anti-crypto policy. Anyone who wants to make a career in the blockchain industry has a particularly large number of opportunities in Japan because, unlike Malta or Singapore, Japan is a global economic power. Due to various legal changes in recent years, Bitcoin is recognized as a means of payment in Japan and businesses enjoy a high degree of legal certainty.

Slovenia

Those looking to emigrate can find out how enthusiastic Slovenia is about Bitcoin when they visit the town of Kranj. A monument to digital money in the form of a gigantic bitcoin coin has been built here. The city’s new landmark is a small indication of the ambitious plans the Balkan country has. It wants to become an Eldorado for crypto investors in the long term and has already been able to attract various promising start-ups with the liberal fintech policy. In some places, both locals and tourists can already pay with Bitcoin in certain shops.

Estonia

Little Estonia is often overlooked on the globe, even though it has a lot to offer. In addition to a unique landscape, the Baltic state also inspires as a sought-after crypto hub. Contrary to expectations, Estonia attaches great importance to a digitization strategy that is as comprehensive as possible, and which is beginning to bear fruit. The country’s citizens benefit from an almost completely digitized bureaucracy, which often makes it unnecessary to go to the authorities. With Guardtime, Estonia is also home to one of the leading companies in cyber security and blockchain technologies.

Conclusion

Cryptocurrencies are on the rise globally and Bitcoin in particular is increasingly turning from a pure investment object into a practical means of payment. The industry is expected to grow significantly again in the next few years and is therefore suitable for career plans. However, a look at the world’s focal points shows that the chances of being able to make a living from the digital currency business are not equally good everywhere. In some countries, the potential has been recognized and they are deliberately attracting investors from the crypto scene. Even on the European continent, there are good opportunities for a new start with good career opportunities. But even those who want to go further afield can go to various promising destinations in Asia.

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