Feb 11 ranking of the countries where they use bitcoin the most
Currently the use of bitcoin has spread worldwide, and it can be said that in every country in the world there are people mining this famous cryptocurrency. however, there are countries where bitcoin is more widely used, so much so that there are companies, shops and even ATMs to carry out transactions with this cryptocurrency.
Which are the countries that move the most bitcoin per month?
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There are certain countries where the use of bitcoin has spread, especially in those countries with ideal characteristics for mining, such as fast internet, cheap electrical services and legal acceptance of the cryptocurrency.
Among the countries that use bitcoin the most, are:
1- japan
Japan is considered the country with the highest use of bitcoin, having the largest community worldwide in the use of this cryptocurrency. In fact, in this country, the use of bitcoin is legal, Japan’s financial services have the authority to regulate the virtual currency market; In addition to the aforementioned, the law of virtual currencies will be configured, in which bitcoin will be considered as an asset and payment method.
currently in japan most stores accept payment with bitcoin, being an incredible increase, compared to the year 2016 in which approximately 4,200 businesses accept this cryptocurrency as a payment method.
Nowadays, even in small businesses it is accepted. All this is due to the fact that companies such as recruiting lifestyle and bic camera, which are the ones that have developed the necessary technology, so that payment with bitcoins is a simple and accessible task for everyone.
2- united states
The United States is one of the main countries in which bitcoin mining and trading are most widely used. In fact, as the US is considered a world power, the decisions it makes regarding the acceptance of trading with cryptocurrencies generates a great impact on the world. In addition, more and more big American figures are joining the bitcoin trade.
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When it comes to mining bitcoin in the United States, many experts say that the best state to do it is in louisiana, since it is where the cost of energy is lower, followed by idaho, washington, tennessee and arkansas.
3- south korea
South Korea is one of the most important countries for the expansion and stability of bitcoin. In fact, the recent announcements of a South Korean minister caused the price of cryptocurrencies to plummet, however despite all this, the South Korean market is one of the most important along with Japan and the United States, where practically 1 person out of 10 has invested in btc.
4- united kingdom
uk has more than 40 bitcoin ATMs. here the law considers the cryptocurrency as a personal asset, and all goods that have been acquired with virtual currencies are subject to the payment of taxes, which has led to the country’s gdp being suspected of approximately 20 million pounds sterling.
in england the use of bitcoin is very common, in fact, the first armed robbery of bitcoin took place precisely in this country, in the town of moulsford.
Without going any further, the British government has been evaluating the recognition of income obtained by cryptocurrencies at the time of declaring, for the payment of taxes. the director of the body in charge of tax collection, require that a system similar to the one used in the actions could be managed.
5- denmark
Denmark is one of the countries that is using bitcoin the most, since it is a country that is seeking to eliminate paper money, which is why electronic transactions have become widespread.
on the other hand, denmark was the first country where real estate purchases were made using bitcoins. In fact, the Danish government is studying and proposing a worldwide humanitarian aid system, using blockchain technology, considering that it would be a faster way to send to organizations that require help.
See also: Super Bowl ads boosted crypto app downloads by 279%, led by Coinbase – TechCrunch
It is not only these five countries that use bitcoin frequently
Many other countries such as Australia, South Africa, Estonia, Russia, among others, are countries in which the use of bitcoin has spread. In fact, currently in almost all countries there are cryptocurrency mines, and despite the fact that in some the use of bitcoin as a currency is not approved, nor is it accepted in stores as a payment method, its users have found ways to spend and carry out transactions over the network.
best places in the world for bitcoin mining
Despite the fact that bitcoin mining exists in all countries, it must be taken into account that there are countries and even cities where mining is cheaper. These mining “farms” are strategically installed in places that allow a greater production of bitcoin at a lower cost and in better conditions.
Generally, the conditions for a place to be considered a good site to carry out bitcoin mining are three:
- low cost of electricity
- high speed internet
- cold weather
Countries that meet these requirements include Canada, China, and most European countries. On the other hand, Russia is considered one of the best countries for bitcoin mining, specifically Irkutsk, which has been nicknamed the “capital of crypto mining” because the cost of electricity is lower.
The largest mining “farms” are located in: Xinjiang, Neimonggu, Heilonggiian and Sichuan, all of which are Chinese provinces.
Without a doubt, the countries that use bitcoin the most are those that have the best conditions for mining, in which the laws favor its use and those in which there are various companies that have created applications and ways to transfer bitcoin to legal tender, this facilitates the payment option with cryptocurrencies in stores for the acquisition of goods and services.
source: cryptotrend
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