Many people are already aware of digital currencies and their impacts in the marketplace. But even some people still don’t know about cryptocurrency exchange platforms and its boom in this digital world. If you are new to this then your mind will be popped with a question: what is a cryptocurrency exchange platform?

But before knowing about the cryptocurrency exchange platform. First, you need to know what cryptocurrency is. It is a digital currency that helps the users to exchange or buy other digital assets. The first digital currency is bitcoin. It is a more popular crypto coin in the market till now. As for now, there are more than 2000+ reliable cryptocurrencies available in the marketplace.

Now let’s figure out what a cryptocurrency exchange is. A cryptocurrency exchange is a cryptocurrency trading platform or website. here one can buy, sell, or exchange a variety of most traded cryptocurrencies. Here you can also trade all the prominent crypto coins. Such as bitcoin, bitcoin cash, binance coin, ethereum, ripple, and other virtual digital currencies. It is also the best online business for young startups and entrepreneurs.

I hope you have some ideas about the cryptocurrency exchange platform. Not let us see where you can start the cryptocurrency exchange business to reap more profits.

Best Crypto-Friendly countries to start a Cryptocurrency Exchange in 2020

Malta:

Malta is a southern European nation island with more than 4 million people. It is one of the world’s most populated countries. Here people will use Euros (EUR) as their traditional currency. Malta is the best and most recommended country to start a cryptocurrency exchange. Because the government of malta welcomes cryptocurrency and blockchain technology. Usage of bitcoins and other cryptocurrencies are performing well in this country.

Most of the startups, entrepreneurs, business people, and other organizations in the blockchain industry marched towards malta to explore their crypto business globally. Even though the world’s largest cryptocurrency trading platform (binance) has relocated its headquarters in malta. So it grabs more crypto traders and it increases the user base of the crypto exchange platform.

United States:

The United States always tops in the list according to the trading volume. We can also say that it is the hotbed of digital currencies. This clearly shows that most of the crypto enthusiasts are residing in the United States. Also, most of the people invested in cryptocurrencies. Many popular cryptocurrency exchanges, crypto solution providers, crypto wallet developers, and miners will operate from the US. Moreover, the government is working to enact a clear legal framework for blockchain-related business.

In December, lawmakers filed a bill to pay a tax on some cryptocurrencies. Slowly the crypto community in the United States is getting success. Also, they are entering the mainstream. The United States is hosting over 30% of the bitcoin nodes which is followed by Germany. Later, the US government has announced some positive signs on the development of digital currencies. They stated bitcoins, not as the legal currency. but it can be used as a currency for business. Also, it can be accepted as the property.

Japan:

Japan is the biggest country with more than millions of population. The world’s popular cryptocurrency exchange Mt. gox was located in Tokyo. Japan acts as the biggest place for trading the popular cryptocurrencies. Such as bitcoin, bitcoin cash, ethereum, litecoin, EOS, and other virtual cryptos. It seems that even the local retailers accept the bitcoins and other cryptocurrency payments.

The government of japan gives reliable support to the cryptocurrencies and this made a huge change in the payment services. They mainly focus on people’s digital currency security. Moreover, officially more than 30+ cryptocurrency exchanges and 200+ companies have registered for the license to operate cryptocurrencies and crypto exchange platforms.

Japan’s government also allowed 16 of the country’s largest cryptocurrency exchange platforms to build a self-regulatory body. This shows how Japan is ahead of the game in terms of regulation and allowing cryptocurrency-based companies to flourish. As a result, more young startups and entrepreneurs are moving to Japan. In order to take advantage of the crypto-friendly regulatory environment.

Switzerland:

Switzerland is an amazing country in central Europe. This country is not in the part of the eurozone. So people use Swiss Franc (CHF) as their traditional currency. Moreover, this country ranked first for economic productivity and competitiveness. This country has become the best home place for many blockchain business people, startups, and entrepreneurs. In the 2018 report, they declared the top 50 digital currency and blockchain-related companies in Switzerland’s “Crypto Valley” alone to be worth $44 billion.

By considering the government policy, bitcoins or other digital currencies are claimed to be the taxable income for every individual in the country. But here there will be some rules and conditions for the people who trade or exchange cryptocurrencies in a professional manner. Moreover, major banks in Switzerland are starting their opinions over digital currencies. So this can be considered as a green light for the crypto enthusiasts and startups.

South Korea:

South Korea is more popular for blockchain technology and digital currencies. They are responsible for blockchain business and other crypto-related products. People in this country are already aware of this technology and they use cryptocurrencies for their payments. Moreover, mostly they visit 100+ crypto trading platforms every month. Also, there are many restrictions and conditions inside the country. Last year, they proposed six regulations regarding the usage of cryptocurrencies. Definitely, it is a piece of good news for the crypto enthusiasts. Since 2017, crypto traders are increasing in their country.

Estonia:

Estonia is the northern European country and it is inside the eurozone. It is one of the best countries in Europe. Also, they indirectly favor and regulate blockchain and digital currencies. This country has a minimum population of about 1.3 million people. Many people know that it is the birthplace of skype services. So they are technically advanced and improved. They even launched their own cryptocurrency in the name of Estcoin.

In this country, if they run crypto exchanges then they should get the proper license and should follow regulations proposed by the government. Recently, the government issued over 900 licenses to the cryptocurrency exchanges and crypto wallet business services. It clearly indicates that the country is examining ways to boost the currency in the future.

Final thoughts:
Here I mentioned only a few crypto-friendly countries. But there are more countries to start a cryptocurrency exchange in a legal manner. Now you have a question: how can I start a crypto exchange business with all the fascinating trading features. You can buy the best bug-free bitcoin exchange software

from the top-grade crypto solutions provider. They will assist you to launch your own bitcoin trading platform within a few days.