The UK has been at the forefront when it comes to cryptocurrency involvement within the European countries. It has been rated at an estimated 170 billion dollars. Some findings had it that the Northern, Central as well as Western areas of Europe have some of the highly rated economical functions when it comes to net worth of cryptocurrency.
A total 25% of the worldwide activities is directly associated with the DeFi market in the UK. According to a report released by citya.m, UK was at the highest rank when assessed in terms of its involvement in cryptocurrency activities from the time period of June 2020 up to July 2021. It is in this line that Kim Gauer, the Director of Research at Chainalysis dubbed the UK an emerging @global professional cryptocurrency hub@ as reported by citya.m.
Previously, many people were not keen on seeking alternative investment options and least of all cryptocurrency. There was a general notion that out of the fact that cryptocurrency cannot be controlled using a centralized method as seen in the traditional options that offer financial services therefore making it unappealing and probably unsafe.
This is a situation that has been demystified and continues to grow less grey because of the transparent nature that the blockchain technology allows for cryptocurrency activity as well as the fact that traditional financial services are proving to be expensive, time consuming and loss incurring especially in the wake of the pandemic. This gives insight on the potential changes that can occur in unforeseen circumstances like in the case of natural calamities causing price fluctuations of commodities and assets with associated global losses.
Apart from the UK, countries like Estonia, Switzerland, Denmark, Germany and Slovenia are also mentioned as some of the ones that are highly accommodative of cryptocurrencyactivities. You can look into exploring options of digital investment in these countries and more so in the UK and how to buy bitcoin safely in the UK.
These countries have had an insurgence of factors thatcollectively make it favorable for an investor to seek storing away their assets digitally using cryptocurrency. These include the availability of Automated Teller Machines that are specific to the use of Bitcoins, alongside some governments taking up some of the cryptocoins in its legal operations as seen in Estonia.
Another advantage is that an investor needs not to pay for value addition. This is in line with the fact that, individuals who are interested in starting up businesses enjoy minimal start up costs especially when compared with those nations that do not engage in cryptocurrency trade.
Looking at the countries that rank highest as far as their involvement in cryptocurrency is concerned, we get a notion that most nations could be warming up to the idea. Following the UK, other nations like China and the USA have been witnessed to experience a plunge in their involvement in cryptocurrency. While some like Asia are taking up cryptocurrency and its operations some more. This entails individuals seeking means through which they can secure their assets especially amidst price fluctuations of commodities like oil and fuel.
For investors interested in buying bitcoins in the UK, insidebitcoins is the safest mode through which you can achieve this. Insidebitcoins is a platform that allows you to learn how best to trade via brokers within cryptocurrency, forex and stocks. Based on the kind of reviews about the platform as well as what authors have to say about insidebitcoins, you as an investor can be assured that this is a favourable platform for you to engage in trade with.
According to cityam.com, countries like Switzerland, Slovenia and Germany are some of the ones in the European Union that have given out user friendly options to its cryptocurrency traders in terms of regulations as well as being exempted from paying tax. Despite all these favorable conditions, putting in place rules that govern cryptocurrency operations in a particular country is important in ensuring that crime incidences are reduced.
