Connect with us

Blockchain

The Crypto Enthusiast’s Dream: Top Countries That Tick All the Boxes

Avatar

Published

on

For crypto enthusiasts, choosing a location to live in that supports an ideal lifestyle extends beyond searching for a city with a high number of shops and retail outlets that accept crypto. 

Sure, any crypto enthusiast will benefit from living in an area with easy access to crypto-related amenities. However, as the world of crypto evolves and more crypto debit cards appear, crypto enthusiasts are realizing that direct crypto spending is not the only factor to consider when choosing a place to call home. The political stability of the location, the weather and internet broadband speed are some of the critical considerations for crypto enthusiasts looking to become global citizens.

In a conversation with Cointelegraph, Juan Otero, the CEO of Travala.com — a crypto-friendly travel booking service — said that nowadays, cryptocurrency enthusiasts have embraced a nomadic “decentralized way” of life, as cryptocurrencies allow them such levels of freedom. With regulation in mind, Otero pointed out that Japan, Switzerland and Singapore are top choices for those looking for jurisdictions with progressive crypto regulations.

Popular crypto YouTuber moved to Saipan

Just recently, a crypto YouTuber by the name of Vin Armani, who is known for founding CoinText and also for being a former star on Showtime’s Gigolos, moved out of the United States to Saipan with his entire family. In a tweet and subsequent conversation with Cointelegraph, Armani pointed out that his move to relocate out of the U.S. was due to the fear of being labeled “undesirable” by the “totalitarian tyranny” that he predicted was about to happen as a result of the coronavirus pandemic.

Located in the U.S. commonwealth of the Northern Mariana Islands, Saipan boasts of a population of just 52,000 people. Also, the country’s proximity to the U.S. makes it an ideal location to be. Like some other members of the crypto Twitter community, Armani is concerned that the government could soon overstep its authority and use technology to restrict the use of crypto. This, he says, can be done through contact tracing technology currently being used to track down and isolate individuals infected by the coronavirus.

Armani also said in a tweet that he chose Saipan because it has “no IRS or ICE jurisdiction. No national guard. No real military presence. Very laid back police. […] No code enforcement dept.” The case with Armani is evidence that crypto enthusiasts are now more considerate of factors such as political stability, security and overall friendliness of financial regulations toward crypto than whether an area has enough retail shops for spending crypto. Taking into consideration all the factors discussed above, here is a sample list of some of the countries that are ideal places for crypto enthusiasts to live.

Singapore

Whether one is looking at political stability or a country’s tax policy toward crypto as a criterion, this city-state with a population of slightly above 5.8 million people easily ranks at the top. Singapore is one of the few countries that support a policy of zero capital gains taxes on crypto income. What’s more, regulatory bodies in Singapore, including the Monetary Authority of Singapore, have initiated several crypto-friendly initiatives, including the publication of initial coin offering guidelines back in November 2017.

Even though the country’s government does not recognize crypto as legal tender, the Monetary Authority of Singapore granted an exemption to several crypto companies under the new Payment Services Act, giving firms a grace period of six months in which they can operate without a license. Singapore also has one of the fastest internet speeds in the world at around 180 megabits per second.

Singapore ranks high among politically stable countries worldwide, making it one of the best places to register a business while avoiding the long-term risks that often emerge in politically unstable states. In terms of the availability of retail outlets that accept crypto payments, Singapore has around 40 shops, according to CoinMap. Housing costs in Singapore are comparatively expensive, with average rents ranging from as low as $1,766 Singapore dollars ($1,250 U.S. dollars) all the way to SG$3,366 ($2,400 dollars) per month.

Australia (Brisbane) 

Australia also ranks high among countries in the world for its political stability. Additionally, Brisbane — one of Australia’s largest cities — stands out for its warm attitude toward crypto, being among the first to introduce crypto payments in the shops of its local airport back in 2018. According to CoinMap, the number of retailers that accept crypto payments in Brisbane sits at about 22, ranking as high as other large cities such as Melbourne and Sydney, which have over 30 and over 70 outlets, respectively.

Brisbane is also home to the Australian Bitcoin (BTC) payment platform Living Room Of Satoshi, a company that facilitates crypto payments for utility bills, tuition fees and even taxes. The solution makes it easy for crypto enthusiasts in Brisbane to transfer money to their loved ones, not to mention receive payments in crypto.

Crypto-accepting shops aside, Brisbane has a warm and welcoming climate with beautiful historic landmarks, not to mention sun-soaked beaches and vibrant art scenes. For those who love warm sunny days, Brisbane boasts of nearly 300 of those every year, making it an ideal location to settle down. In terms of quality of life, Brisbane is one of Australia’s most affordable cities to live in.

Even though median weekly rents in the city have gone up by 1.4% according to reports, the median rent price is set at about $453 Australian dollars ($300 U.S. dollars) per week, and the city’s rental market affordability has increased, prompting increased migration from Sydney and Melbourne.

U.S. (California)

The regulatory landscape in the U.S. is as dynamic as it comes. Even though the federal government has yet to adopt a universal regulatory framework, several states are pushing crypto regulations in different directions as the regulatory gap continues to grow wider. The state of California, arguably, stands out from the bunch in that it does not oblige crypto firms to obtain any specific licenses.

As far back as 2014, California emerged as the first U.S. state to come up with crypto regulation. Even though the state is not as popular with crypto and blockchain enthusiasts as it once was, it still has the largest population of professionals in the crypto industry. 

While most of the crypto landscape is filled with speculators, California’s Silicon Valley is filled with individuals who are working on blockchain and cryptocurrency projects. It is no wonder California is home to large crypto companies such as Coinbase, Kraken and Ripple. Apart from a regulatory-friendly framework and a solid crypto community, another factor that makes California a great place for crypto enthusiasts is its weather. 

California is home to beautiful beaches and breathtaking landscapes, not to mention a fairly warm climate and a flourishing winemaking region. The state boasts of thrilling and adventurous night scenes, especially in cities such as San Francisco and Los Angeles. The only downside is that the cost of living in California is relatively high, with the rental cost of a furnished apartment in a lavish neighborhood starting at about $2,967.

Sweden

Sweden ranks above most other countries in the Organization for Economic Cooperation and Development’s Better Life Index. Most Swedish citizens enjoy fast internet speeds and affordable and reliable public transportation, not to mention one of the best social welfare systems in the world. Even though the country has yet to formulate any specific regulation targeting cryptocurrencies, Sweden’s central bank stated in March 2018 that “Bitcoin is not money.”

Several government agencies in the country such as the Swedish Tax Agency have also published guidelines in regard to crypto, with a 2014 statement from the STA indicating that digital currencies are exempt from tax.

Furthermore, despite the country’s cautious attitude toward cryptocurrencies, Sweden is one of the few countries in the world that has embraced digital payments as the government prepares to launch a digital version of its fiat currency.

When it comes to its climate, Sweden is known for its cold winters, with February’s temperatures ranging from minus 22 C (minus 8 F) to minus 3 C (27 F), but what makes up for it is access to winter sports. Another upside to Sweden is that it has a cheaper cost of living, especially when compared to over half the countries in Europe. For a family of four, the monthly cost is estimated at about 39,038 Swedish kronor ($4,133 U.S. dollars).

New Zealand 

New Zealand has established itself as a crypto-friendly country even though the government has made it clear that it does not consider cryptocurrencies to be legal tender. The New Zealand Inland Revenue Department released a paper on Feb. 24 that proposed excluding cryptocurrencies from specific goods and services tax requirements. While admitting to the speedy growth of the country’s crypto market, the government agency mentioned that it does not intend to create barriers for crypto-related developments. 

Crypto regulation aside, New Zealand is considered one of the world’s most peaceful places to live, with the Institute for Economics & Peace’s Global Peace Index showing the country’s maintenance of a top position for close to a decade. Also, the country was rated second in the world for achieving work–life balance. The ranking came from HSBC’s 2018 Expat Explorer Survey that considered the choices British expats made when looking for a place to relocate to with their families. 

In terms of climate, New Zealand has warm summers full of sunshine and moderately cold winters. The climate in New Zealand is pretty similar to that in the United Kingdom. Plus, if one is looking for retail shops and businesses that accept crypto payments, there are over 40 businesses in New Zealand that accept crypto payments.

Liechtenstein

Despite being one of Europe’s smallest countries, Liechtenstein passed a law in October 2019 aimed at enticing crypto companies. The law, called the Token and Trusted Technology Service Provider Act, was enforced on Jan. 1 and became the first-of-its-kind comprehensive regulation for the token economy. The law introduced regulatory clarity in the country, thus allowing unencumbered future development of the crypto industry.

Given that Liechtenstein is a member of the European Free Trade Association, crypto companies in the jurisdiction have easy access to the common European market and are able to operate on a compatible legal framework with other countries in the region. Furthermore, the nation of Liechtenstein occupies a breathtaking location in the Alps between Austria and Switzerland.

The country’s broadband internet speed is well above 100 megabits per second, and for those looking for a quiet place with a spectacular view, the mountain scenery of this small country is something to behold. It boasts of a high gross domestic product, not to mention a stable political environment as well. As a result of having one of Europe’s highest wage levels, most people in Liechtenstein can afford high living standards. House rentals range from 790 Swiss francs ($800 U.S. dollars) to 1,830 francs ($1,902 dollars). 

Living in the future

Despite the delay, crypto regulations all over the world are starting to evolve, and governments are tailoring their approaches, as seen in the case of Gibraltar. If you are looking to set up shop or live in a jurisdiction that has crypto-friendly tax policies, countries such as Germany, Portugal and Switzerland are among the few in the world that offer tax exemptions on cryptocurrencies.

However, if your considerations go beyond a country’s tax policy on cryptocurrencies, some critical factors to have in mind include a country’s political stability, quality and affordability of life, and adaptability to the new environment.

Related: Gibraltar Succeeding in Crypto Regulation Where Others Fall Short

Furthermore, as the global pandemic has exposed the underlying problems of the existing financial system, it is evident that Bitcoin and the crypto economy at large will increase in popularity worldwide.

Therefore, for crypto enthusiasts, the smart move is to live in countries that are set to become the crypto powerhouses of the future. Given the rapid advancements in the crypto payments infrastructure facilitated by Cash App, Revolut and other notable companies, it means looking beyond the number of shops that accept crypto to considering other factors that prioritize the personal needs and desires of a modern global citizen. Travala.com’s Otero hopes that more places, propped up by a regulatory regime, will appear on the map soon: “Governments will start to take a more positive approach toward crypto so more countries across the world will embrace the benefits.”

Source: https://cointelegraph.com/news/the-crypto-enthusiasts-dream-top-countries-that-tick-all-the-boxes

Blockchain

Crypto Fund Gives Ethereum Tokens Instead of Shares to Investors, And It’s Approved by the U.S. SEC

Avatar

Published

on

A 2018-founder crypto firm just got the green light from the U.S. SEC to function as an Ethereum-issuing investment fund on Monday, in a first such structure.

Own a Hedge Fund’s Tokens

Based in Los Angeles, Arca is an asset management firm that creates and manages institutional-grade products using crypto and blockchain technology, as its LinkedIn page shows.

With the SEC ruling, Arca becomes the first SEC-registered investment product to offer digital tokens instead of traditional shares under the Investment Company Act of 1940. On offer for investors is the apt-titled ArCoin, an Ethereum token. 

On the development, Arca CEO Rayne Steinberg said it was “truly exciting to be pioneering new digital investment products.”

ArCoins, which do not trade on any exchange (if you spot one, it’s likely a scam), are an ERC-1404 token, an Ethereum standard designed to be compliant with regulators. This is unlike the usual ERC-20 standard; ERC-1404s can have their transactions rejected, accounts frozen, and approved to be transacted only with pre-determined addresses.

With the SEC approval, Arca investors can hold the fund’s tokens equivalent to a share/paper contract. All other fund activities are similar to traditional counterparts, in terms of daily shareholder updates, protections against bankruptcy, and audited financial statements. 

Assets are held in a trust, guarded by an “independent board of trustees” and the minimum fund buy-in is $1,000, notes Decrypt.

Small Fees for Big Gains

Eighty percent of ArCoins will be invested into “interest-bearing, short-duration, U.S. Treasury securities.” Investors will be paid out returns each quarter. 

For its services, Arca takes in 3.22 percent in fees; unlike the industry standard of 2 percent fees and 20 percent of profits. Each token represents one share in the business, the prospectus reveals.

Jerald David, the president of Arca Capital Management, revealed:

“Interest in crypto funds has peaked amid the coronavirus pandemic, a boost to the shift in our world from physical to digital during the last several years.”

While Arca is the world’s first SEC-registered digital token doling fund, it’s not the first to be compliant.

Grayscale, which handles over $3 billion over Bitcoin, Ethereum, and XRP products, has been an SEC-registered entity since 2018. The firm’s institutional buyers show a great affinity for cryptocurrencies, with analysts suggesting they paid up to a  750 percent premium for ETH exposure.

Arca’s been contesting for a Bitcoin ETF since 2017, as BTCManager earlier reported. It’s ETF efforts remain unfruitful.

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Source: https://btcmanager.com/crypto-fund-ethereum-tokens-investors-us-sec/

Continue Reading

Blockchain

Dogecoin Gains 20% Amidst TikTok Pumping Challenge

Avatar

Published

on

Crypto asset Dogecoin (DOGE) has leapt 18% in 24 hours and almost 20% over the past week. The price action is happening against the backdrop of a viral TikTok challenge that encourages users to pump the coin. 

The most popular video under the hashtag #DogecoinTiktokChallange has amassed nearly half a million views so far. It was posted five days by a user jamezg97, and effectively described what seems to be a pump scheme:

“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users once it hits 1 dollar, you’ll have $10,000. Tell everyone you know.”

In another video, a user named kindashortidiot says, with a DOGE chart in the background: 

“Everybody, just please listen to me. This is Dogecoin. If you know nothing about investing, it doesn’t really matter. Go put $25 into this and that will be 10,000, okay? And if this reaches $1, you will have made ten grand. Please, just try it out. Go pump it!”

Another popular entry under the hashtag #Dogecoin is addressed to “some smart asses buying Dogecoin on Robinhood” and essentially warns them against investing in DOGE, “literally a monopoly money.” 

Cointelegraph reached out to TikTok to ask if this kind of content complies with its guidelines, but received no reply as of press time.

Currently, the asset trades at $0.002758, up almost 18% in 24 hours. It is ranked number 33 by market capitalization at Coinmarketcap.

Elon Musk’s seal of approval 

Dogecoin is a Litecoin (LTC)-based cryptocurrency that was created by a United States-based programmer Billy Markus and directly inspired by the “doge” meme. Despite being introduced as a “joke” cryptocurrency back in 2013, it has since managed to build a sustainable community on Reddit and Twitter.

Its most famous supporter is tech mogul Elon Musk. In April 2019, Musk tweeted that DOGE “might be” his favorite cryptocurrency, and that he finds it to be “pretty cool.” In a joke poll that took place on Twitter around the same time, the crypto community voted Musk as the best CEO candidate for the asset.

Source: https://cointelegraph.com/news/dogecoin-gains-20-amidst-tiktok-pumping-challenge

Continue Reading

Blockchain

Bitcoin Hash Rate Hits Record Average High Defying BTC Price Bears

Avatar

Published

on

An essential Bitcoin (BTC) metric has hit a new all-time high as miners pledge ever more computing power to securing the network.

Data from various resources including Blockchain confirms that on July 6, Bitcoin’s seven-day average hash rate reached a new peak.

Bitcoin hash rate 7-day average beats March top

The achievement follows several weeks of hash rate growth, with the seven-day average at 123.4 EH/s as of Monday.

The previous record came in early March, just a week before the Coronavirus-induced crash severely disrupted both network and price activity.

Bitcoin 7-day average hash rate 1-year chart

Bitcoin 7-day average hash rate 1-year chart. Source: Blockchain

Hash rate is an estimate of how much computing power miners are devoting to processing Bitcoin transactions. A higher average suggests that miners have more faith in profitability, and their activity in turn strengthens the network.

Cointelegraph regularly reports on hash rate changes, along with Bitcoin mining difficulty, which is also on the rise after around a month of stagnation.

“I expect it to keep going up from here, maybe slightly less than the dark blue post 2016 line, at ~2-3X/yr,” quant analyst PlanB commented on Monday.

BTC price sits at weak 50DMA 

Rising fundamentals currently contrast with the relative lack of support for Bitcoin price bulls. As Cointelegraph reported, only a boost for stock markets saved BTC/USD from a third retest of $9,000 support in as many days.

Highs of $9,370 were short-lived, with the pair settling nearer $9,250 at press time on Tuesday.

Summarizing the situation, Cointelegraph Markets analyst filbfilb highlighted that those levels represent Bitcoin’s 50-day moving average (DMA).

“Bitcoin Failed to reclaim that 9300 level last night.  The 50 DMA is again the test for Bitcoin,  sat at ‘support’ on the 9250 level but the previous 2x times this failed in the exact same situation,” he told subscribers of his Telegram trading channel. 

“S&P 500 futures were down those times too as they are today, so given that I’ve hedged my longs for now.”

Bitcoin has shown strong correlation to the S&P 500, with PlanB this week forecasting BTC hitting $190,000 if the index passes 4,000 points.

Meanwhile, realized volatility is at lows not seen since November 2018 — just before a huge sell-off sent Bitcoin to lows of $3,100.

Source: https://cointelegraph.com/news/bitcoin-hash-rate-hits-record-average-high-defying-btc-price-bears

Continue Reading
IOT2 mins ago

“Best of Hands at Adafruit” Photo & Video Series Day 16 #hands #photography #wfh #bestofadafruit

IOT2 mins ago

How To Turn Garden Weeds Into Delicious Meals

IOT2 mins ago

Designs reviewed for ‘Teacher in Space’ Christa McAuliffe coin #ArtTuesday

IOT3 mins ago

33 Powerful Black Lives Matter Murals #ArtTuesday

IOT3 mins ago

Virtual Street Art Walk #ArtTuesday

Gaming12 mins ago

Hyper Scape patch notes for July 6 nerfs weapons

Gaming18 mins ago

Evening Reading – July 6, 2020

IOT26 mins ago

Designing 3D Printed Enclosures for KiCad PCBs

Payments27 mins ago

Starling Bank launches two new paid business accounts

Payments57 mins ago

SoftBank splashes $130m in Indian insurtech PolicyBazaar

Payments1 hour ago

National Bank of Pakistan modernises pool management

Blockchain1 hour ago

Crypto Fund Gives Ethereum Tokens Instead of Shares to Investors, And It’s Approved by the U.S. SEC

Blockchain2 hours ago

Dogecoin Gains 20% Amidst TikTok Pumping Challenge

AR/VR2 hours ago

HP Reverb G2 Pre-Orders Start Listing In Europe, UK & New Zealand

Blockchain2 hours ago

Bitcoin Hash Rate Hits Record Average High Defying BTC Price Bears

Payments2 hours ago

Aldi Nord switches card acquiring to Fiserv in five days

Blockchain2 hours ago

Neo Founder Says Next-Gen Internet Will Break Up Tech Giants’ Data Silos

venezuela-raises-petrol-prices-mandates-support-for-petro-at-gas-stations-3.jpg
Publications2 hours ago

Expect a rebound in Samsung Electronic’s share price in the second half: Analyst

venezuela-raises-petrol-prices-mandates-support-for-petro-at-gas-stations-3.jpg
Publications2 hours ago

‘Safe-haven shine’ must come off of gold if markets recover, strategist says

Blockchain2 hours ago

ETF Approval Times Are Now Shorter Because Of New SEC Vote

Gaming2 hours ago

‘Sky: Children of the Light’ 0.10.0 Adds Support for the Upcoming Season of Sanctuary, One Year Celebration Events, and More

Blockchain2 hours ago

Record Surges In BTC Options Market Volumes Show Institutions Are In

Payments2 hours ago

South Korea reports 20m subscriptions to open banking service

Blockchain2 hours ago

Blockchain-Enabled ‘Neon District’ RPG Will Launch on Matic Network

Blockchain3 hours ago

Telegram Will Shut Down TON Project By August 2020

IOT3 hours ago

33 Powerful Black Lives Matter Murals #ArtTuesday

IOT3 hours ago

Virtual Street Art Walk #ArtTuesday

Start Ups3 hours ago

Bulk MRO is expanding with funding from Stride Ventures and others

Blockchain3 hours ago

Crypto Volumes Plummeted In June, But CME Data Shows Institutional Bitcoin Players Still Undeterred

Start Ups3 hours ago

BBBS Raises Funding from Mumbai Angels Network

Publications3 hours ago

TikTok will exit Hong Kong because of China’s new security law

Blockchain3 hours ago

Active dApp Users On Ethereum Doubled In Q2 Of 2020

Start Ups3 hours ago

Inspektlabs raises funding from Better Capital and Titan Capital

Blockchain3 hours ago

Bitcoin Price Prediction: BTC/USD Fluctuates Between $9k and $9.3k, Stuck in the Middle Structure

Blockchain3 hours ago

Dogecoin surges 26% after a TikTok video: Such pump, Much wow

Blockchain3 hours ago

Ethereum DeFi: Aave Google Searches Explode, But Not For Why You Think

Blockchain3 hours ago

Bitcoin Fails to Break $9,400 Despite NASDAQ’s New ATH: Tuesday’s Price Watch

Publications3 hours ago

Invest in European chip supply chain as U.S.-China tensions ramp up: Strategist

venezuela-raises-petrol-prices-mandates-support-for-petro-at-gas-stations-3.jpg
Publications3 hours ago

The fundamentals in China’s property sector are ‘really good at the moment’: UBS Asset Management

Start Ups3 hours ago

Gobbly Raises $500,000 from Sauce.vc

Trending