![]() ![]() Portugal does not view cryptocurrencies as an asset, but rather as a form of payment so they do not tax it as the former. From being able to purchase products with a crypto visa card to favorable tax regulations on crypto, Portugal is one of the best places to be a crypto trader. The company now allows individuals to purchase over 90 different cryptocurrencies with euros. For example, Criptoloja was the first crypto exchange licensed by Portugal’s central bank to operate in Portugal, in October of 2021. In the last few years, crypto companies have been on the rise in the country and changing the way the Portuguese view this industry. Lisbon hosted an Ethereum conference in October of 2021 and is following the global trend of NFTs, having hosted Europe’s first crypto art festival, Rare Effect in May of 2021. A decision about this is expected next month once the country unveils its financial budget for the 2023 fiscal year.įor now, however, it looks like the region is attracting bitcoin fanatics left and right, and many are keen on never ridding themselves of their assets no matter how weak the market might appear.Portugal is one of the most crypto friendly countries in the world. Unfortunately, it looks like the European nation may be heading in the opposite direction at the time of writing as last May, the finance minister of Portugal Fernando Medina said regulators were on the verge of imposing new laws that would see crypto transactions taxed like standard income. Portugal should be the Silicon Valley of bitcoin. ![]() Taihuttu also feels that Portugal should do more to not only accept bitcoin but build around it. ![]() One investor and regular visitor to the bar Paulo Estevao explained things by saying: They are confident that the present bear conditions of the market will subside, and they are concerned that getting out too early will lead to future regrets. Many of the visitors of the bar don’t have any intention of selling or getting rid of their stashes anytime soon. One of his long-standing customers – a woman named Katherin Bestandig – seemed to agree with him. People always doubt when to buy when to sell. In an interview, he discussed the current state of the market and says a lot of it has to do with one’s level of bravery and how far they’re willing to go. His bar is very popular amongst those who not only believe in bitcoin, but who continue to invest in it even as the price crashes. He sold everything so he could have money to purchase bitcoin, and he hasn’t looked back since.įollowing that time, he and his family have been on the road funding everything with bitcoin, and now he appears to have settled in Lagos. Taihuttu is an investor that ultimately got rid of everything a few years back his home, his car, his earthly possessions, etc. There’s a good chance you haven’t been reading our material long enough. If the name Taihuttu isn’t familiar yet, it should be. Here, people can gather and discuss the future of the space and all they’ve accomplished within its boundaries over the past few years. It’s co-owned by Dutch investor Didi Taihuttu, and it attracts people from all over the world not just for its fine drinks and spirits, but for its love of bitcoin. In the city of Lagos, Portugal, there’s a little hub called the Bam-Bam Beach Bitcoin Bar. Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up ![]()
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