CryptoWallet Content

How Does Denmark and Surrounding Countries Accept Bitcoin?

With the rise in cryptocurrency popularity, many countries are moving with the wave and have started to accept bitcoin as a way of payment. If you want to buy something with bitcoin in Denmark you can look towards Hungry.dk which has been accepting Bitcoin since 2014, even with the big dip that saw cryptocurrencies take a massive blow, Hungry.DK was still accepting bitcoin.

Now they have more than 1500 restaurants signed up, but you can only buy from those restaurants if you are in Copenhagen. It is so easy to use your mobile wallet to buy your food, you don't get any more convenient than that, logging into your CryptoWallet and paying for your food in seconds. No more hassle with banking apps or the sorts.

The most user-friendly wallet to use

Opening up a new account on CryptoWallet could not be easier, just an email and password and agreeing to their Privacy policy and User agreement of course, but that is standard. It is as simple as that and once you have your account open you can purchase Bitcoins using your debit card or any other cryptocurrency. Purchasing bitcoins with your debit card is just as easy as signing up, you transfer the funds you want on the platform, look at the value of bitcoin, then decide how many coins you want and select buy.

There you go, using CryptoWallet is safe and secure, with their 2-step verification process as an added security measure you can rest assure knowing that only you have access to your wallet. Even though the blockchain network and blockchain technology are already much safer than a central location because no one can tamper with the information you put on the blockchain network, it is available for everyone to see, but only you have the power over your information.

Why not download the app then you have all your information at all times. With CryptoWallets User-friendly interface, navigating through the app has never been easier. Even new users who don't understand how mobile wallets work can set up an account in seconds as everything is handled in-app. Lastly, the best part is their all-in-one service which allows you to transfer funds to your crypto debit card and actually spend funds on goods and services.

CryptoWallet is much more than just a crypto wallet.

How does Denmark treat Bitcoin?

Denmark is one of the few countries in Europe which treats bitcoin and other cryptocurrencies as financial instruments. If we look at how Denmark operates in the cryptocurrency space, it's all legal in Denmark, the government has also issued specific rules when it comes to money laundering through cryptocurrencies and they don't play around, there is a reason why the crime stats are so low in the country, but that's a topic for a different article.

Denmark offers tax deductions for losses of crypto, but it doesn't cover business activities, for example when you buy something and the value then decreases you are on your own with that one. Cryptocurrencies are also exempt from value-added tax in the country.

Let's just take a look at a stat, which you can see the national debt of Denmark, "According to the IMF, at the end of 2020, Denmark’s gross national debt-to-GDP ratio was 31.9%. At the same time, the country’s net debt-to-GDP was only 14.83%." (Read more at:https://commodity.com/data/denmark/debt-clock/)

Other exchanges to use in Denmark

Even though CryptoWallet is the best wallet to use, we can't through away the other crypto exchanges. After all the crypto industry is not a very big one and we have to take care of our own. Let's not digress, the top three crypto exchanges apart from CryptoWallet are eToro Europe Ltd. which allows you to buy, sell, and trade cryptocurrencies.

Another one is Bitpanda, an exchange based in Europe that also allows you to buy cryptocurrencies with your debit or credit card. Lastly, we have Coinbase which is a US-based crypto & bitcoin exchange. Even though it is the best way to buy crypto & bitcoin in the US, for Denmark CryptoWallet, eToro, and Bitpanda will be the best to use if you want to buy crypto in Danish Krone.

Other Crypto-Friendly Countries in Europe

Apart from Denmark cryptocurrency have been welcomed in other countries as well, like Estonia, Switzerland, Germany, and Slovenia. Making those countries the best places if you want to start a crypto-based company.

Estonia has several bitcoin ATMs in the country and they even plan to create their own called "Estcoin", if you want to start a crypto-based business in Estonia it will have a lower cost than normal businesses and you don't have to pay value-added tax. Slovenia is another wonderful country in the crypto space, if you are an individual investor you will not get taxed when earning an income from such investments on the crypto trading floor. Yet the government treats it as a virtual currency.

Based in Switzerland and want to start a crypto-based business is an ideal place to be, it is considered one of the best countries to start a crypto-based business. This is also another country that has announced it will accept crypto payments.

The Germans, as we all know is an innovative nation so it's not common to see them on this panel, they see cryptocurrencies the same as properties and if you hold them for longer than a year you don't have to pay tax on it.

Conclusion

It's only a matter of time before every business and individual accept crypto payments. Yes, of course, it might take a few years, but don't you want to be a part of this innovative move into the future and start protecting your money and being able to control what you do with your money yourself? As you can see many rich countries are leaping and if they can do it and see the potential in it, I am sure you can too.