In the crypto world, Germany is a powerhouse. The central European country dethroned Singapore as the most crypto-friendly country.
According to the Coincub crypto-friendly rating guide, this is the case. There are several reasons why Germany was ranked first in the recent assessment. Only the United States has more Bitcoin nodes than Germany. Germany’s approach to crypto taxation is progressive. This is true even when other major economies are taken into account.
Cryptocurrency is widely accepted in the country. They also made a ground-breaking move to allow crypto assets to be included in the country’s massive domestic savings business.
Germany Has Always Valued Cryptocurrencies As An Investment
Germany has a distinct institutional position on cryptocurrency. Cryptocurrencies are accepted as a solid investment for savers. The Sparkasse, which is composed of smaller banks, is Germany’s largest savings organization. It is preparing to make crypto transactions available to its 50 million users, allowing them to trade and store Bitcoin. Sparkasse is also thinking about launching its own cryptocurrency wallet.
Singapore used to be the most populous country in the world. They’ve moved up to the second position. The United States is in third place, Australia is in fourth place, and Switzerland is in fifth place. The United States remains a crypto powerhouse in terms of raw numbers, with the biggest amounts of crypto trade, nodes, and Bitcoin ATMs. It is now in third place. However, in the Coincub rankings, Bitcoin trading volumes and Bitcoin ATMs are weighted in relation to comparable variables like GDP or population size to provide a more fair picture.
Coincub.com’s previous guide was three months ago, and it’s been a tumultuous three months. Bitcoin, of course, fell below $35k in January before rebounding to $47k by March.
World markets are being destabilized by inflation, as well as Russia’s invasion of Ukraine.