Top 10 Crypto-Friendly Countries In 2024

By Sunil Gavhane

Published on:

10 Crypto-Friendly Countries

Top 10 Crypto-Friendly Countries: The growth of cryptocurrencies largely depends on the laws of different places. For digital currencies to succeed, we need clear rules, legal following, good conditions for businesses, simple processes, and innovation support. Knowing the laws of each place is important, and the increase of cryptocurrencies is helped by clear tax rules and government support.

Here’s a list of countries that like cryptocurrencies and have easy rules and lower taxes. Let’s take a closer look!

Which Countries Are Crypto Friendly?

  1. Portugal

Besides its sunny beaches and warm weather, Portugal is also known for being welcoming to cryptocurrencies. Do you know why?

  • In Portugal, you don’t have to pay taxes on money you make from buying and selling cryptocurrency, as long as it’s not your main way of making money and you’ve owned the cryptocurrency for over a year. Yes, it’s true!
  • Companies that offer cryptocurrency services have to pay taxes on their profits, which are between 28% and 35%. In January 2023, Portugal made new tax rules for money made from investing in cryptocurrencies. These rules are usually better for people than in other European places.
  • Portugal is the location for many global events about digital currency, like Nearcon23 and the Web Summit.

2. Malta

Malta is known as the “blockchain island” because it is very friendly to cryptocurrency, like Bitcoin. It treats cryptocurrency as money or an asset, meaning if you hold onto your crypto for a long time and it goes up in value, you don’t have to pay taxes when you sell it. This is good news for people who keep their crypto for a long time. However, if you buy and sell crypto like you would with stocks, you have to pay a 35% tax, just like a business. But, Malta has special tax rules that might let you pay much less tax, sometimes as little as 0% to 5%, depending on how much money you make and where you live.

  • People who buy crypto in Malta don’t have to pay taxes on the profit they make.
  • Here, we have benefits like clear laws, new ideas, protection for investors, worldwide respect, and a secure place to trade digital currency in 2024!

3. Singapore

Singapore, a top financial technology center in Asia, is a popular place for cryptocurrency. In 2024, it has rules that help manage cryptocurrency. Let’s find out how!

  • The Payment Services Act in this place controls crypto with oversight from the Monetary Authority of Singapore.
  • It only taxes profits from crypto if they come from trading activities, not from other ways individuals might make money from it!
  • It doesn’t tax profits from trading, so its tax rules draw in investors because they don’t have to pay big taxes.
  • It has a strong setup for cryptocurrency and solid laws for dealing with digital money!

4. Switzerland

Did you know that Zug, a city in Switzerland, is nicknamed Crypto Valley? It’s home to famous cryptocurrency companies, including the Ethereum Foundation, among others. Switzerland offers very friendly rules for crypto businesses!

  • Income or profits from cryptocurrency for individual investors is not taxed.
  • The country has a forward-thinking approach to rules about cryptocurrencies.
  • If someone trades or mines crypto seriously, they could have to pay a small wealth tax between 0.5% to 0.8%. This tax is for all kinds of wealth, not just crypto. Therefore, moving to Switzerland could be a good choice for people wanting to make the most of their money.

5. El Salvador

The country is one of the friendliest towards cryptocurrencies in 2024. El Salvador was the first to make Bitcoin an official currency.

  • El Salvador’s president, Nayib Bukele, who likes Bitcoin, is likely to be elected for another five years. Early results from the polls show he’s far ahead after voting finished in the first week of February!
  • In 2021, El Salvador was the first country to make Bitcoin, the biggest digital currency, official money. They also created a digital wallet called Chivo to make it easier for people to use Bitcoin and began investing in it themselves.

6. Slovenia

Slovenia really likes using crypto! The clear rules here make us feel safe to use digital money. The government supports moving to blockchain technology.

  • Slovenia leads in the value of cryptocurrency per person, showing that its blockchain startups are very successful.
  • The country has become more welcoming to cryptocurrency because the rules around it have been relaxed.
  • It doesn’t tax profits from selling assets or VAT on mining. You only pay a small 25% tax on income if you mine cryptocurrency.

7. Canada

Canada is a key place for business technology growth and is a world leader in creating blockchain and cryptocurrency technology.

  • The clear set of rules finds a middle ground between keeping investors safe and encouraging new ideas.
  • Crypto is taxed based on profit because the country sees it as goods, not real money. This lets people and businesses figure out their taxes based on how much they earn or lose from investing in Bitcoin.
  • In 2024, Canada has specific rules and needs for reports from people who use cryptocurrency for taxes.

8. Germany

Germany treats crypto differently! It doesn’t see crypto as an asset, but as private money.

  • Germany is the best place for long-term investors because it does not have a tax on long-term capital gains.
  • Many blockchain companies are based there, and it was one of the first places to start using crypto payments.
  • Since 2013, Germany has allowed Bitcoin to be used as a way to pay for things.
  • If you keep the cryptocurrency for a year, you don’t have to pay taxes on the money you make from it.

9. Cayman Island

The partnership between Ledn and Parallel has turned the area into a very welcoming spot for investing in property using cryptocurrency. The Cayman Islands are also a place where people and companies dealing with cryptocurrency don’t have to pay taxes.

  • The place does not have any rules or requirements for owning, keeping, or trading cryptocurrency!
  • The country is forward-thinking about crypto because it doesn’t have rules for trading crypto or taxes on it.

10. Georgia

Georgia is a great place for trading digital currencies because you don’t have to pay taxes on the money you make from selling them. The country’s finance department says that people don’t have to pay income tax on their crypto profits. In Georgia, profits from crypto aren’t considered local income, so they’re not taxed like other earnings. While the country doesn’t officially use cryptocurrency as money, it supports the growth of crypto business. Right now, Georgia’s National Bank is in charge of overseeing the crypto industry.

  • In Georgia, it’s completely legal to own and trade cryptocurrencies. Plus, when you trade crypto, you don’t have to pay any income tax on the profit you make from selling your crypto assets.
  • Georgia’s rules are very friendly to cryptocurrency. In 2019, the Ministry of Finance made rules about how crypto should be taxed. These tax rules made it much easier to mine, sell, and trade cryptocurrency in Georgia.
  • A person living in Georgia does not have to pay taxes on money made from selling digital currencies.
  • If a company in Georgia mines or trades cryptocurrencies, it doesn’t have to pay VAT. It only has to pay a 15% corporate income tax and a 5% tax on dividends if it gives out profits. If it doesn’t give out profits and instead reinvests them, it doesn’t have to pay any tax on those profits.


Over time, more countries are starting to use cryptocurrency and making it safe. By 2024, we have made a lot of progress. Now, many countries understand how valuable cryptocurrency can be, compared to just a few at the beginning.

We, at Coinpedia, will let you know when new members are added to the list!

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

Related Post

Ethereum is getting nearer to its highest price ever as the value of ETH surpasses $4,000 again for the first time in a year.

Ethereum is getting nearer to its highest price: In the cryptocurrency world, Ethereum (ETH), a decentralized platform, is making big progress. Lately, Ethereum’s price went up close to ...

Sam Bankman-Fried’s intricate plan: breaking out of jail, seeking forgiveness, forming an alliance with the GOP.

Sam Bankman-Fried’s intricate plan: Sam Bankman-Fried, once a big name in cryptocurrency and known for his generous donations, is facing his toughest time yet after FTX collapsed. It’s ...

Raoul Pal’s Review: Understanding Why Dog wifhat (WIF) Price Is Going Up

Raoul Pal’s Review: Raoul Pal, the founder and CEO of Global Macro Investor, recently talked about the meme coin called Dogwifhat (WIF) in a post. He explained how ...

Crypto Market on Edge: Key CPI Data Looms, Ethereum Upgrade Ahead

Crypto Market on Edge: Over the past day, the total value of cryptocurrencies worldwide went up by 4.1%. It reached a high of $2.83 trillion onsday morning in ...

Leave a Comment