October 1, 2022

Which countries recognize Bitcoin as legal tender?

Which countries recognize Bitcoin as legal tender?

The crypto community is betting that Paraguay will be the next country to announce Bitcoin (BTC) legal tender.

According to a CoinMarketCap survey, as of 20On July 2021, the country received 81,433 votes, followed by Venezuela with 58,656 votes. Ten countries that can declare BTC a legal tender received a total of 234,057 votes. Anguilla is in third place with 34,376 votes, while Panama received 17,323 votes, followed by India with 13,148 votes.

Among other countries that took a place in the ranking,Zimbabwe (8704), USA (7823), Mexico (4245), Ecuador (4245) and Bangladesh (4104). The countries of South America and the Caribbean dominate the list with a 50% share.

Other than the United States, most countries inthe list have significantly weaker economies. They are characterized by high inflation, in some cases hyperinflation and deflation, along with a large proportion of the population not covered by banking services.

Due to the potential adoption of Bitcoin onthe state level in the crypto community hope that this will positively affect the price of the asset. However, since El Salvador legalized BTC, the asset's price has remained volatile, hovering around $ 30,000. This volatility is thought to be related to cryptocurrency restrictions in China.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

Which countries recognize Bitcoin as legal tender?

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