Top 10 Countries With Highest Inflation Rates In The World

geralt / Pixabay The annual inflation rate in the United States hovers at around 2%. For the uninitiated, inflation is the annual percentage change in consumer prices compared to previous year’s prices. Many third-world and politically unstable have been victims of hyperinflation. Developed in Europe and North America have witnessed low inflation rates. […]
Source: bitcoinwarrior
Top 10 Countries With Highest Inflation Rates In The World

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Countries Where Bitcoin Is Banned or Legal 2019

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Source: BTC
Countries Where Bitcoin Is Banned or Legal 2019

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15 Countries Join with FATF to Build Crypto Surveillance System

The system be designed by 2020 and “up and running” after a “few years” have passed.
Source: financemagnates
15 Countries Join with FATF to Build Crypto Surveillance System

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15 Countries to Develop Crypto Transaction Tracking System: Report

15 , including the G7, reportedly create a system for tracking crypto transactions to prevent its illicit uses under FATF guidance


Source: cointelegraph
15 Countries to Develop Crypto Transaction Tracking System: Report

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Muslim countries will create halal coin given time and awareness: expert

According to a finance expert operating in Malasia, a halal coin is a matter of time and cryptocurrency isn’t rejected by people but the idea of it is generally rejected by authorities. The advisory firm that goes by the name of Amanie Advisors from which Suhaida Mahpot hails as the CEO, is Suhaida has […]
Source: bitcoinwarrior
Muslim countries will create halal coin given time and awareness: expert

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Top 4 European Countries Ranked by Cryptocurrency Adoption

TheMerkle Zodiac Cryptocurrency Exchange

When it comes to determining the popularity of cryptocurrencies in Europe, it seems things are not looking all that great. For some reason, the continent has not seen much cryptocurrency-related activity, although things are not as dire as one might think. A new report by BitPanda confirms several note decent adoption rates in this regard, albeit there is still a very long way to go.

Switzerland Tops the Chart

Not too many users and enthusiasts be surprised to learn that and other cryptocurrencies are gaining some traction in Switzerland. Unlike other countries in Europe, Switzerland has some form of cryptocurrency regulation which seemingly allows the industry to thrive. Especially the Zug region has become of great interest in this regard, albeit it remains to be seen if similar activities will gain a foothold in other parts of the country. 

As part of the BitPanda survey, it seems that 7% of internet users taking part in this questionnaire own or hold any cryptocurrency in this day and age. Interestingly enough, 14% of asset holders in the country also own cryptocurrency, which seems to indicate speculators and investors are diversifying their holdings accordingly. Zurich is also one of the most popular cryptocurrency cities in all of Europe, which only makes the importance of this region even more apparent. 

Austria Isn’t far Behind

Considering the relative proximity of Switzerland and Austria on a map, it is not abnormal to see both countries note similar interest in Bitcoin and altcoins. BitPanda’s survey confirms 7% of internet users own cryptocurrency, which is on par with Switzerland. Additionally, 12% of asset holders own cryptocurrency, which is worth keeping an eye on as well. With Wien being in the 5 of major crypto cities across Europe as well, the country is cementing its position in the industry.

Turkey Remains Relevant

Despite all of the political turmoil in Turkey throughout the past few years, it seems the overall interest in Bitcoin and other cryptocurrencies has not diminished all that much. In fact, Turkey is a very prominent region in Europe as far as cryptocurrencies are concerned, with 6% of internet users apparently holding some crypto. Twelve percent of asset holders own Bitcoin or altcoins as well, which is a prominent sign of growth. Sustaining these levels will hinge on whether the government decides to create any regulation in the near future.

Romania Inches Ahead

Romania has always been an interesting country, for a wide variety of reasons. One of the keys to its success in these rankings is the ever-growing freelancer community. When dealing with domestic and international clients, cryptocurrencies make for a more favorable payment method. This explains why 6% of internet users hold crypto, and 14% of asset holders do so as well. This further confirms Romania is doing its part to bring cryptocurrencies to the masses, albeit there is still a lot of room for improvement. 


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

Image(s): Shutterstock.com

How countries utilize cryptocurrencies to avoid international sanctions

How countries utilize cryptocurrencies to avoid international sanctions

There have been numerous news pieces detailing several using cryptocurrencies as tools to avoid sanctions imposed by other countries.

of these countries are suffering from US or EU sanctions, therefore, it’s understandable that their main goal of avoiding them is to somehow fill up on these strong currencies to support their own ones.

Such cases can be found with countries like Venezuela, Cuba, Russia and even Iran. All four of these countries have been delving in the cryptocurrency world in order to find ways of diversifying the economy or simply having unopposed access to the global markets.

What US sanctions usually target

In most cases, economic sanctions, be they imposed by the United States or any other country for that matter try to target the victim country’s repositories of the imposters’ currency. Naturally, in order for the sanctions to somehow work the imposter’s currency needs to be in high demand not only in the victim country’s economy but also in the global markets as well.

US sanctions are the primary focus because we all know that the USD is the biggest currency in the world, and by the biggest I mean the most used one.

Preventing the circulation of USD

One of the examples of the United States sanctions preventing USD transactions in the country is Venezuela, which was forced to convert its airport taxes into cryptocurrencies, distribute them across several crypto exchanges around the world and acquire USD through that, which is like a classic method of avoiding an authority’s watchful eye in the history of crypto trading all over the world.

Naturally, this comes with a serious issue in terms of exchange rates and the fees as well, but it seems to be the only route Venezuela could have taken.

The US is not the only country with this power

Different regions have different geo-political situations and therefore, the USD may not be the only currency playing a major role.

Let’s take the Caucasus region as an example. Most of the countries located there are very responsive to the financial movements of the Russian Federation. Given the fact that all of the Caucasus nations are very serious trade partners with Russia, having that partnership come under fire would directly impact the local economy.

The case with Georgia

One of the most recent cases is the Russia-Georgia drama, Russia was threatening to prevent financial transactions between the countries. Judging by the fact that Georgia receives quite a lot of payments via the RUB it would be a complete disaster for their local currency, which is still depreciating like crazy relative to the dollar.

One thing that needs to be considered is that exports and payments aren’t done by the government, it’s a compilation of various private companies doing business with each other. Therefore it’s never guaranteed if any of the sides support the sanctions. Should they be given the opportunity to resume business ventures, they’ll always take it.

Having something like a decentralized currency which has no effect on the currency correlations more or less, would allow these private companies to continue their partnerships without any serious issues.

Although it wouldn’t shore up the currency depreciation issues completely, it would still play a major role in maintaining it to a manageable level.

The hunter becomes the hunted?

Now that we’ve discussed a large country influencing another through sanctions, let’s discuss big ones influencing each other.

It’s no secret that Russia faces serious US sanctions thanks to which the economic growth has been relatively slow in recent years. However, now that the government has warmed itself up to cryptocurrencies a bit, it’s possible to somehow avoid these issues without “interfering” with the sanctions and warranting a response from the issuer.

As already mentioned, the sanctions are mostly used to prevent the currency movements so that the “victim’s” economy is directly affected. However, the of cryptocurrencies does not directly “violate” the terms of those sanctions, therefore leaving the issuer emptyhanded in terms of a legitimate intervention.

This case can be associated with the recent request from a Russian arms company to conduct business using and various other cryptocurrency transactions.

Based on the fact that Russia take any opportunity to avoid US sanctions it most likely be approved, but what the message be?

The message will be that there are alternative methods to acquire United States Dollars and that sanctions are not as effective as they used to be.

Another part would be the engagement of a Russia-registered company in an industry that The US directly opposes and has considered in the sanctions, and basically the loss of control over their own restrictions.

There is no clear method for the USA to respond to such a development when it’s clearly not a “breach” of the sanction “guidelines”. Should the intervention be challenged by a third party country, it would be immediately deemed as illegal and the manipulation of another country’s economic policy, something which the USA has been accusing Russia for pretty much decades now.

Should they fall for such an accusation, they’d lose quite a lot of political power due to their hypocrisy.

Cryptos are a perfect weapon against sanctions

Sanctions also tend to target the most profitable industries in the victim country’s economy. For example, the oil industry in Iran has been a constant target of US sanctions, but the country’s recent acceptance of crypto mining as a legitimate industry was a direct challenge to those sanctions.

Why? Because it’s Iran’s attempt at diversifying their economy. Naturally, mining would probably not be as profitable as oil drilling for quite a while still, but it’s a start.

Should the united states dare to oppose this legislation, through the argument that it’s a breach in the sanctions, they’d be immediately countered.

The counter-argument would most definitely be that it is a private sector and that it’s dealing with decentralized assets that have nothing to do with the Iranian government.

And should the US have any gripe with the mining companies, it would simply be seen as an illegal intervention in a private venture’s business proceedings, painting the US as nothing more than a bully.

Although this article has turned out like a jab at US sanctions, it shouldn’t be perceived as such. The US was just a perfect example simply based on the fact of many countries they’ve imposed sanctions upon.

The only thing that should be understood from the article is that cryptocurrencies have the capability of circumventing sanctions in a legal manner while leaving the issuer with very few choices in terms of responding and not losing political power in the process.

The post How countries utilize cryptocurrencies to avoid international sanctions appeared first on ZyCrypto.


Source: zycrypto
How countries utilize cryptocurrencies to avoid international sanctions

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Countries’ Limitation On Use Of Cash: Good News For Bitcoin (BTC), Is Australia Going To Be First?

Japanese E-Commerce Giant Rakuten Plans to Accept Bitcoin, Will Amazon Follow Suit?

A number of are choosing to have an economy of cashless payments. Among those spearheading this is Australia. The country is reportedly planning to limit the of cash in the country to 10,000 AUD around $6,900. This new development could be positive for .

The country is already a leading adopter of the technology making the asset ideal for day to day use. Apart from Australia, Spain, Portugal and France are also looking to limit the use of cash. So, is this a growing trend and Bitcoin benefit from it?

The new bill in Australia was recommended by a special task force looking into curbing tax evasion and general criminal activity. The recommendation was pushed to parliament and was first tabled in the 2018-19 Budget Review.

This push for a cashless economy through government regulation now makes a strong bullish case for Bitcoin. Bitcoin is an excellent digital asset that can be used as a medium of exchange. Residents of countries with limited use of cash can easily use the asset in their day to day expenses. Furthermore, it helps that a lot of stores are now accepting the asset as a means of payment.

Bitcoin will in the years to come have a larger user base meaning its demand will be higher. This will see its price push higher than before.

Regulation For Digital Assets Possible

However, if the government is planning to regulate cash, it is likely also going after digital assets such as Bitcoin. It’s plausible that while they implement the new regulation, they set up more regulation for digital assets in an attempt to reduce their use for illegal activities.

Regardless, regulations have been welcomed by analysts who believe that this will see institutional investors trust the new technology.

Bitcoin (BTC) Price Update

Bitcoin has largely been trading sideways as it continues to trade just above $9,500. It is expected that the asset will trade around this region for some time before the next big jump back above $10K in the mid-term. In the long term, the bulls are looking to the year high of $13K.

The post Countries’ Limitation On Use Of Cash: Good News For Bitcoin (BTC), Is Australia Going To Be First? appeared first on ZyCrypto.


Source: zycrypto
Countries’ Limitation On Use Of Cash: Good News For Bitcoin (BTC), Is Australia Going To Be First?

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10 Countries with the Most Bitcoin Hodlers

There is much speculation about who holds the crypto coins. Some believe that of them are owned by large exchanges, funds or mining firms which […]

The post 10 Countries with the Most Bitcoin Hodlers appeared first on UseTheBitcoin.


Source: usethebitcoin
10 Countries with the Most Bitcoin Hodlers

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Top 5 Cheapest Countries to Mine Bitcoin

bitcoin

If you’re thinking about dusting off your ASIC now that BTC price has recovered, you may want to pack your bags as well. Check out the five to mine below.


The Cheapest Places to Mine Bitcoin

Mining Bitcoin can be a profitable business if you live in a handful of countries. But the electricity cost can quickly outstrip your earnings if power is expensive in your area. 

According to Powercompare.uk, Bitcoin mining now consumes more electricity than 178 other countries worldwide. That includes countries in Africa, as well as Greece and Ireland–pretty big business you could say. 

So are the cheapest places to mine Bitcoin? Let’s take a look.

cheapest places to mine bitcoin

1. Kuwait

With a relatively low cost of living all around, Kuwait City comes in at 148th most expensive worldwide. There’s no shortage of sunshine in this Arabic country and apparently, there’s also no shortage of cheap electricity. Mining one Bitcoin costs just $1,415 in this middle eastern terrain. 

2. Venezuela

If you can battle your way through the food shortages, hyperinflation, and power-outages, Venezuela is still the second cheapest place to mine Bitcoin at just $1,630 per BTC.

With Venezuelan consumption of Bitcoin rising all the time, perhaps it’s unsurprising that BTC mining is so prolific here.

coin-dance-localbitcoins-VES-volume

3. Myanmar

If you’re feeling the call of the exotic, why not head out far east to Myanmar where mining one Bitcoin set you back around $3,087? Maybe not so appealing during last year’s bear market. But with Bitcoin consistently over $10k, that’s still a pretty nice return. And you’ve got plenty of temples to look at.

4. Bahrain

Cheaper than neighboring Kuwait, Bahrain’s capital city of Manama could be a decent place to relocate if you want to mine Bitcoin. At around $3,628 per Bitcoin, you can make a handsome profit. 

Although it should be noted, you’ll also have to crank up the a/c in all the countries listed above so your equipment doesn’t overheat in the scortching summer temperatures.

summer heat

5. China

The legality of Bitcoin mining in China may be somewhat uncertain with its National Development and Reform Commission (NDRC) calling for the industry to be “eliminated.” 

However, there is still not an outright ban on BTC mining. So, if you fancy flirting with this faraway land, mining one Bitcoin will set you back $3,645. In today’s climate, that should just about grant you three-fold returns.

Has this list made you want to back your bags in search of new lucrative mining opportunities? Let us know your thoughts in the comment section below!


Images courtesy of Shutterstock, Coin Dance, Powercompare.co.uk 

The post Top 5 Cheapest Countries to Mine Bitcoin appeared first on Bitcoinist.com.


Source: bitcoinist
Top 5 Cheapest Countries to Mine Bitcoin

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