Safe and secured: bitcoin in Estonia as an alternative for traditional payment methods
Have heard of the recent bitcoin surge and now thinking of bitcoin investing? We are here for you. Let’s review what you can do with bitcoin.
Cryptocurrency regulations in Estonia are strict enough, and thereby the country is one of the most favourable places to trade Bitcoin in the world. Estonian government took responsibility and made cryptocurrency a completely legal and safe way to make transactions. Moreover, in Estonia, crypto businesses are actively stimulated by the government authorities.
Estonia is 99% digitalised, thereby offering unlimited opportunities to entrepreneurs. The favourable tax system, innovative e-Residency programme, fintech opportunities, advanced business ecosystem, rich talent pool — that’s just the beginning of what to expect from the Estonian business environment. More and more people are entering the Estonian business market by investing in cryptocurrency, and it is undoubtedly worthwhile: the country welcomes every aspiring entrepreneur.
We have previously covered a variety of topics on the subject of cryptocurrency. Feel free to look at the following posts exploring why and how to start a cryptocurrency exchange and all the legal information on obtaining a cryptocurrency license:
How to start a cryptocurrency exchange in Estonia
Thinking about entering the cryptocurrency world? Here’s a short guide on how to start your own crypto exchange in…
Up to date: cryptocurrency regulation in Estonia (2021)
This blog post introduces the requirements for companies applying for an Estonian cryptocurrency license in 2021.
Starting a Cryptocurrency Investment Fund in Estonia
At the time of cryptocurrency rise, an alternative investment fund is indeed one of the most convenient structures for…
In this blog post, however, we focus on bitcoin and possible ways of using this virtual currency on the Estonian market.
Bitcoin was launched in 2009 to facilitate instant payment. Bitcoin or BTC is a type of cryptocurrency — to date, the world’s largest cryptocurrency by market capitalisation. Bitcoins are created, traded and stored using a decentralised ledger system or a blockchain.
Speaking of Bitcoin in Estonia, it is necessary to mention the e-Residence programme and its role in Bitcoin development in Estonia. Launched in 2014 by the government authorities, e-Residency has facilitated Bitcoin business in Estonia a lot; it allowed non-residents to start a company remotely and legally run a business from anywhere in the world. Bitcoin, in its turn, as well as any other cryptocurrency, is a synonym for the word ‘online’.
Where to trade Bitcoin rather than in the most digitalised country that also welcomes entrepreneurs from around the world?
OK, we went through bitcoin characteristics and have agreed that Estonia is indeed a good place for investing in bitcoin. Now, let’s consider how you can use bitcoin in Estonia and, of course, how can you make a profit.
The first option is to set up your own cryptocurrency exchange.
It is a promising and solid investment in today’s market. You can indeed unleash the potential of your crypto business in Estonia. The process of starting your cryptocurrency exchange is time-consuming, but competent decisions result in profit.
We are here to help with obtaining a cryptocurrency license.
If you still want to invest in bitcoin, but starting a company is not something you are aiming to, there’s another way to trade bitcoin. Let’s imagine you bought a bitcoin. What would you do next? Well, there are different paths to follow, depending on your intentions.
Once bought, bitcoins are used to pay for goods and services. More and more businesses start accepting bitcoin payments. You can also trade bitcoin for fiat currencies or other cryptocurrencies, or you can hold onto it and use it as a long-term investment.
The recent rapid growth of bitcoin value has attracted many investors who make investments in the future by buying bitcoins. Still, we remind you that every investment involves risks where bitcoin, being a safe and secure virtual currency, is not an exemption.
If you want to start trading bitcoin, there are two main things to know. The trading platform is a service that allows you to buy and sell bitcoins. Another aspect is a crypto wallet — medium, where you safely store your virtual currency and what you use when you want to send or receive your cryptocurrencies.
Here are five popular platforms available in Estonia using which you can buy or sell bitcoins. Each trading platform also has its own wallet to offer.
Coinbase is one of the most popular digital currency exchanges, based in the U.S and boasting over 43 million users. It is considered the most trusted in the world and the most popular platform in Estonia.
It is a straightforward and safe way to buy, sell and manage your cryptocurrency. You can get started in a couple of minutes. With Сoinbase, you can also set up your crypto wallet. A cryptocurrency wallet is a service where you can store your virtual currency.
Paxful, one of the leading people-powered Bitcoin marketplaces, is now available in Estonia. There are 300+ ways to pay for Bitcoin, including Revolut, Monese, Paypal, etc.
The main idea behind the platform is to connect buyers with sellers. All you need is to select how you want to pay and how much bitcoin you need. The Paxful wallet is functional, safe, and easy to use on all your devices.
eToro allows buying and selling Bitcoin with nine forms of payment. There is a 0% commission. Moreover, they have developed the Popular Investor Program, which aims to recognise talented and sawy traders who will share their knowledge.
eToro is user-friendly, and app design makes it very pleasant to use.
Bitpanda is another popular trading platform accepting users and payments from 37 countries. The platform supports many digital assets and is easy to use.
Moreover, Bitpanda has stocks coming. That will be Europe’s first platform for investing in big-name stocks such are Amazon, Twitter, Starbucks with no commission.
Binance is a safe cryptocurrency exchange. Like many other platforms, it provides 2-factor authentication and offers both multi-signature wallets and cold storage options.
Binance offers rewards for its users regularly. Besides, it has 24/7 call support.