Cryptocurrencies: A Global Ranking & Analysis (Update 2020)

1. Japan

With the number of crypto companies in Japan growing, 190 companies express the intention of market entry – the tech-savvy country is an ideal jurisdiction to set up a cryptocurrency business. The island nation has a booming bitcoin and cryptocurrency industry and was one of the first and only countries to recognize cryptocurrency within its legal system.

Adoption is growing in the country too, with many businesses, restaurants and cafes accepting crypto for payments compared to other countries and jurisdictions.

3. Singapore

The business-friendly, low-tax and tech-friendly Singapore is another jurisdiction worth considering.

Although the previous regulatory framework for crypto wasn’t entirely clear, and some businesses were unable to expand due to troubles with bank accounts, the country’s financial regulator said that it was very open to crypto companies working with banks to reach an agreement to allow these businesses to grow.

Last year, the central bank of Singapore finalized the country’s new regulatory framework for payment services, which now includes cryptocurrency.

5. United States

The United States is unsurprisingly a hotbed of crypto companies. Many high-profile cryptocurrency exchanges, custody providers, wallet developers, and miners operate from the U.S. and the government is working to enact a clearer legal framework for crypto-related businesses.

Policy varies state to state, and while taxation guidelines in the U.S. have generally been unclear, recently lawmakers filed a bill to create tax exemptions for certain cryptocurrency transactions.

Don’t store all of your money in just one wallet

Over the years, some crypto exchanges have become victims of hacking attacks and other security issues. This resulted in many of their user accounts being frozen or worse, compromised.

That’s why there is no guarantee that your tokens can be safely stored in a crypto exchange platform. It should be stored in a private wallet.

Don’t fall for a phishing email

You need to be extra vigilant whenever you receive emails with external links. Oftentimes, these phishing emails are designed to look like a legitimate company and may be tricky to detect.

Before clicking any external link or giving personal information, check the domain name. Legitimate companies use their domain name to send emails.

If the email asks you to confirm personal information, be wary. Search for the organization and contact them directly. Don’t use any form of communication indicated in the email.