Cryptocurrencies have taken the world by storm, and the one country that you should know about is Switzerland, where the Bitcoin craze has gone mainstream to the maximum. It is one of the most crypto-friendly countries, and it would seem that there will be no end to the growth of this currency. This article looks at 5 cool facts about bitcoin in Switzerland, providing some insights as to what the cryptocurrency sector could look like globally if the Swiss developments are anything to go by.
Switzerland has added crypto to its other well-known formal banking products
There is a licensed Swiss bitcoin bank. It is the first formal banking structure specifically related to crypto and shows just how seriously Bitcoin is taken in the country. More recently, there has also been a crypto market index fund established which allows investors to buy and trade in crypto assets and bitcoin in large amounts through established and highly regulated systems. It is these systems and the regulation of the bitcoin trades that makes Swiss bitcoin trading the most trusted in the world.
Bitcoin is widely accepted
More suppliers are now accepting bitcoin in Switzerland than anywhere else. It is one of the more advanced economies where you are able to pay taxes and fines, and there are more Bitcoin ATMs per capita than anywhere else in the world. From casinos accepting bitcoin to being able to buy pizza and public services, the uses of bitcoin in Switzerland are immense, and online entertainment and media form a large part of this usage.
Can use a Bitcoin ATM
Bitcoin ATMs allow people to buy or transact in bitcoins from an automated teller machine using debit or credit cards. The coolest fact is that in Switzerland many of the ATMs are bi-directional, allowing you to buy and sell Bitcoin at the ATM.
Switzerland has the most secure crypto safes
Advanced crypto storage. With the increase in value and usage of Bitcoin, there has been an associated increase in hacking and theft of tokens and online savings. As usual, Switzerland has been at the forefront of the protection and storage of your crypto. Cold storage now allows you to remove your bitcoin tokens from the internet and store them in a much safer manner. It is the virtual vault that only Swiss bankers could come up with.
Bitcoin accepted as legal tender in Switzerland
The last but most interesting and reportable feature of bitcoin in Switzerland is that it is now accepted as legal tender, just as a banknote is. Bitcoin has gone mainstream in Switzerland. It is now seen as simply another means of paying for goods and services.
These are 5 of the coolest things about Bitcoin in Switzerland and provide a basis to think and plan for the future if crypto-currencies are part of the basket of your investments. The bitcoin boom is not set to fall anytime soon, and as such, Switzerland, which is the banking capital of the world, has begun to provide another layer of banking that is set to provide a future for Bitcoin.