Portugal – ‘Bitcoin Heaven’ in Europe

Portugal – a beautiful nation with stunning beaches, exciting football, delectable cuisine, and much more – might easily be considered a little paradise on earth, but not only for visitors. It is regarded as the European heaven for Bitcoin enthusiasts as well.

Shortly speaking, many investors, especially from northern Europe, are attracted to this lovely country, making Portugal one of Europe’s top places to live and invest. 

So, continue reading to discover why and what makes this country so attractive to crypto lovers?

What makes Portugal heaven for Bitcoin?

The crypto business is steadily tangled by-laws and requirements, leaving Portugal as a crypto-paradise with minimal regulations.

Due to Portugal’s perfect crypto environment and 0% tax on Bitcoin, many experts and enthusiasts think it is the ideal place to settle and invest.

Globally, financial regulators are struggling with primary cryptocurrency concerns. Are they currencies or assets? If they’re assets, how do you tax them? 

In the meantime, there is Portugal, which is now one of the last nations in Europe to tax crypto as a currency, meaning trading revenues are not taxed. It started with the law passed in 2016, which did not consider cryptocurrency a currency. And this has become a reason why cryptocurrencies are not taxed in Portugal.

However, even people in the crypto business acknowledge that sooner or later, things must change.

Until then, many crypto enthusiasts stay in Portugal and get the most out of the crypto world, including investing in gambling. But is it a good idea? Is crypto gambling even legal in the country? Let’s find out below.

Is crypto gambling in Portugal a good idea? 

Due to the crypto-friendly atmosphere described above, numerous casinos are already hitting the market to provide crypto-based gaming services in Portugal. And even though the legality of Bitcoin casinos in the country is a bit unclear, many investors still think that crypto gambling is an excellent way to make money. It is because people trust and believe in the value of a coin that makes it come to life.

Several overseas Bitcoin casinos operating in Portugal enable customers to sign up and play their favorite games. Thus, Portuguese casino gamers will have no problem joining Bitcoin casinos as well. 

Players should be aware that there is no financial or central authority regulation. Also, Bitcoin casinos do not impose deposit and withdrawal limitations on their customers. Not to mention Blockchain, which provides users with a safe and secure environment to transact, thus satisfying the consumers’ expectations.

However, if none of the above is reasonable for you, and you’re still not sure if gambling in Portugal is a good idea, you can always try your luck in other 100% legit crypto casinos like this one. Here you’ll find everything to have your best gambling experience and, who knows, maybe win a fortune.

To conclude,

As it appears, Portugal’s cryptocurrency laws are very friendly. The government is not too strict about investing in crypto. Also, people who make money by selling and buying cryptocurrency are not taxed on their capital gains. If you want to trade your cryptocurrency for something else, like fiat, you won’t have to pay taxes either.

So, if you’re a fan of crypto, especially Bitcoin, and as a bonus, would like to experience all the magic of beautiful beaches and other wonders, then Portugal is definitely your place to visit and invest.