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The most important countries and companies that have started accepting Bitcoin

The most important countries and companies that have started accepting Bitcoin

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Bitcoin is the largest and most popular digital currency today, as it has almost completely taken over the cryptocurrency market, and many large companies accept Bitcoin as a new financial transaction. As a result, some major countries have adopted dealing with Bitcoin, and this, in turn, led to the continued rise of this currency to achieve new heights in its value, prompting analysts – who were skeptical about the digital currency – to reconsider their thinking.

Cryptocurrencies are making headlines in the news these days, as the value of Bitcoin has reached a record $61,000 for the first time, and many companies are adopting these digital currencies, allowing customers to use them as an official way to pay for their services and goods, such as airlines and companies industrial and many more.

Buying and selling cryptocurrencies has become increasingly common with time, but the opportunities to benefit from owning cryptocurrencies are relatively limited due to their high volatility.

The most important countries and companies that have started accepting Bitcoin


Top Countries Where It Is Legal to Use Cryptocurrency

When preparing to buy bitcoin, one of your first steps should be to find out if it is legal in your country or not. Many countries allow cryptocurrency to be transacted in different ways, such as using it as money to pay taxes or to buy or trade goods themselves as a commodity. . Whereas in other countries, mere possession of Bitcoin within its limits can lead to imprisonment!

Bitcoin is still new to the grand scheme of money history, it may take a decade or more before this currency can completely replace the world’s money supply. But on the other hand, the idea of ​​Bitcoin today is closer to becoming a reality. From a positive perspective, research shows that there are at least 111 states where Bitcoin and cryptocurrencies are legally recognized and fully legal. In this article, we present to you the most important countries that support Bitcoin trading.

The most important countries and companies that have started accepting Bitcoin


The United States of America and its relationship to Bitcoin

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In general, this country has taken a positive attitude towards Bitcoin, although there are many government institutions in America working to prevent or reduce the use of Bitcoin in illegal transactions, as for American companies, many of them encourage payment with this currency such as Microsoft, subway. One of the most important reasons that helped the digital currency spread more and increase its legitimacy in the United States of America, is its presence in the American financial derivatives markets.

Canada

Canada, like its southern neighbor (USA), maintains a friendly attitude to Bitcoin, and this currency is seen by the Canada Revenue Agency as a commodity to be bought and sold.

Australia

Australia has considered Bitcoin and other digital currencies legal in the country since 2017, and the type of tax obligation it is subject to is capital gains tax.

Germany

In Germany, it is allowed to buy, sell and hold cryptocurrency as long as it belongs to a licensed institution.

Japan

It is one of the first bitcoin users, as the national currency of Japan holds the largest market share of bitcoin, i.e. more than 60% of the total bitcoin in circulation.

El Salvador and the reality of its adoption of Bitcoin

Bitcoin has become an official currency in El Salvador just like the US dollar, and it can be used to buy products, and companies and individuals in the country can use it to pay debts and taxes, and one of the reasons El Salvador depends on Bitcoin, is to make it easier for its citizens working abroad to send money home, This is because Bitcoin does not require a bank account to receive or spend it. El Salvador’s adoption of bitcoin, the world’s largest digital currency, has made one of Central America’s poorest countries an unexpected leader in global technological transformation.

The most important countries and companies that have started accepting Bitcoin


The most important companies that accept digital currencies, especially Bitcoin

Not only do countries support bitcoin so that you can dispose of it as you like, but major companies must support dealing with it as well, and indeed many famous companies have started to support bitcoin, and we mention the following:

1- Microsoft

Microsoft is one of the largest software companies in the world, and the use of bitcoin has been accepted as an option to purchase applications, games, and other digital content, and because this company is globally known and trusted, its decision to accept the use of bitcoin has strengthened the degree of confidence in the use of the currency globally.

2- Tesla, at least in the beginning

Electric car maker Tesla has previously announced that it will accept Bitcoin payments to buy cars in the US, as a result of CEO Elon Musk’s $1.5 billion investment in Bitcoin, however that has now been inverted. The decision is upside down, due to Tesla stopping Bitcoin transactions.

The reason behind this is that bitcoin mining uses large amounts of electricity, and it is not known if this electricity or the energy that is used for mining is produced by burning fossil fuels or is from renewable energy sources. Mining more than 50% of digital currencies using renewable energy, because the goal of Tesla is to produce environmentally-friendly electric cars, so how is that its goal and at the same time accepts payment in currencies that harm it?!

3- Visa

Credit card company Visa confirmed at the end of March that it was testing a scheme with Crypto.com to accept cryptocurrencies to settle transactions on its payment network. Coy Sheffield, head of the crypto, stated:

“We see a growing demand from consumers around the world to be able to transact, hold and use digital currencies, and we see demand from our customers to be able to build products that provide that access to consumers.”

That is, the credit card company will allow the digital currency to be used in US dollars to settle transactions on its payment network.

If the customer chooses to use the visa crypto.com card to pay for a cup of coffee, the cryptocurrency in the crypto wallet is converted into traditional money.

4- Starbucks

You may have heard of the largest American coffee company, this company created an experiment on using an app called Bakkt (Payment Platform), to pay for drinks and goods using converted Bitcoin, so when you pay for the item you want to buy, the app makes automatic transfers to convert the volatile digital currency to US dollars in real-time, then reload on Starbucks cards saved in the Starbucks app.

5- Coca-Cola

Popular beverage company Coca-Cola Amatil, a giant beverage distributor bottling company in the Asia-Pacific region, has taken digital currency as one of the payment methods, as there are now more than 2,000 vending machines in Australia and New Zealand, designed to accept cryptocurrency to pay for drinks.

6- Pavilions

The Pavilion Hotels and Resorts chain is one of the first hotel groups to accept digital currency from any country for hotel reservations, meaning that you can make a reservation in one of these hotels and pay using digital currencies, such as Bitcoin and 40 other digital currencies easily, confidently and securely around the clock and the clock. weekdays.

7- Lush

The beauty and personal care company “LUSH” has made great strides in accepting dealing with cryptocurrencies, and has also stated that it has a strategy to enter the cryptocurrency community, as its strategy will allow it to develop new ways to work with global suppliers and charitable donations without exorbitant fees and with greater security and transparency, and customers will be directed Those wishing to use Bitcoin to get their supplies such as soap, to the dedicated payment service “BITPAY”.

8- Newegg

NewEgg is a world-renowned company in the cryptocurrency community, with sales of all types of cryptocurrency miners and consumer electronics. The company has started accepting bitcoin and other digital currencies, as a means of payment for its various products.

9- BurgerKing

Some sites of the famous “BurgerKing” restaurant in the Netherlands began accepting bitcoin in 2016, but the matter did not stop there. In 2019, Burger King Germany and Burger King Venezuela began accepting bitcoin payments for orders on their website as well.

10- AXA Insurance

This company is considered one of the largest insurance companies in Switzerland. It is listed on the Swiss Stock Exchange. It provides insurance facilities to individuals and small, medium, and large companies. After this company conducted its market research, it found that there is approximately one-third of its clients aged 18 years and over. And 55 were interested in bitcoin, as a result of which the company allowed its customers to pay insurance premiums using bitcoin.

This was a review of the most important countries and companies that support dealing with Bitcoin, it is only a matter of time before digital currencies are popularized in all countries and companies.


The most important countries and companies that have started accepting Bitcoin

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