Crypto Country Spotlight: Germany 🇩🇪
1. Known to be the most crypto-friendly nation in the world. This is partly due to the readiness of local financial institutions to offer crypto services. For example, Sparkasse aims to provide crypto services to its customers comprising about 50 million people.
2. German banks charge their customers negative interest, so the latter have to pay banks money for storing their savings with them. Could be an off-putting reason why crypto is used by the Germans.
3. Bitcoin ATMs are quite easily found in Germany. Kurant is the market leader for BTC ATMs and operate around 220 machines in Austria, Germany and Spain. It offers BTC, ETH and LTC, and the fees are 8% over spot. Yes, KYC is necessary.
4. Coinbase has recently allowed PayPal for crypto payment in Germany.
5. Frankfurt is the city with the highest number of BTC nodes in the world.
6. Binance withdrew its license application from Germany about a month ago, likely due to the newly-implemented Markets in Crypto Assets (MiCA) regulations.
7. No need to pay capital gains taxes if you HODL your crypto assets for more than a year. This is because crypto is considered a private good, so selling is a private sale.
8. In March 2033, Someone who goes by the name of Bitman Bob on Twitter projected a logo of Bitcoin on the European Central Bank in Frankfurt with the message “study Bitcoin!”
