Crypto investment has increasingly become a hot trend among investors who strongly believe in the future of Web 3.0 and blockchains. However, these investors often face difficulties while exploring their investment options in the crypto world due to regulatory requirements, poor internet facilities, and other factors. Amidst this chaos, there is one nation, Thailand, that offers these investors the best crypto investment opportunities. with a total of 5.7 million users. That sounds interesting, but what makes the investment of crypto in Thailand possible? Let’s explore these reasons one by one:
#1- Government Regulations
If you are involved in crypto trading, you must be aware of how agonising regulators are. You constantly fear that your crypto investment will be declared invalid. But this fear ends in Thailand. The Thai government is constantly working to make their country a crypto-friendly destination and is actively working to make crypto in Thailand easier and hassle-free. For this, in 2018, the Thai government passed the Digital Assets Act, which established the legal framework for cryptocurrency transactions and ICOs. According to this law, all cryptocurrency operators must be registered and licensed by the Securities and Exchange Commission of Thailand (SEC). Because of these regulations, investing in cryptocurrency for beginners in Thailand has become more secure and easy.
#2- Low of Cost Of Living
What is the one thing that every crypto entrepreneur and digital nomad will check about the country before relocating to it? Most probably the cost of living. Thailand is widely known for its low cost of living, making it an ideal location to relocate to, even for a beginner who wants to start a career in crypto investment but cannot afford the high cost of living. According to sources like Numbeo, the estimated monthly expenses for a family of four in Thailand is around $2,023.6 (71,130.2฿), which does not include rent. Further, some even claim that one can live on $2,000 per month. Do you know what blew our minds? While researching, we came to know that in Chiang Mai, one of the most famous places in Thailand, the minimum cost of living is $600!
#3- Growing Crypto Community
Thailand’s low cost of living and favourable government regulation made it the perfect place for a thriving crypto community. The Tourism Authority of Thailand has collaborated with regulators and local cryptocurrency exchanges. This innovative strategy aims to rejuvenate the country’s tourism sector by fostering a crypto investment-friendly environment. Further, the country’s efforts in crypto tourism are bolstered by its dynamic crypto community and government support for digital assets. This supportive stance has enabled businesses to diversify their fundraising methods through cryptocurrencies, contributing to a thriving crypto in Thailand. Consequently, the nation has seen a surge in exchanges, startups, and investment firms focused on blockchain technology, enhancing investing in cryptocurrency for beginners.
#4- Favourable For Digital Nomads
Even if you have the best crypto trading platform, if your country’s internet infrastructure is not efficient enough, you will end up incurring massive losses. This is where Thailand has nailed it again. It has become a favoured spot for digital nomads due to its affordable living, excellent internet speed, favourable climate, and adventurous spirit. For crypto investment businesses, it offers a vibrant scene to explore while enjoying the perks of the nomadic lifestyle. Popular destinations with thriving crypto communities include Bangkok, Koh Pha-ngan, and Phuket. These locations provide the perfect blend of modern amenities and a rich cultural experience, making them ideal for those looking to dive into the world of cryptocurrency. With Thailand’s welcoming environment, digital nomads can easily connect with like-minded individuals and immerse themselves in both the local culture and the dynamic
#5- Taxation
Another pain point for any individual who is into crypto investment is taxation. Thailand has done a fabulous job in softening its taxation policies for crypto trading. They removed the 7% VAT on the earnings from cryptocurrencies. Additionally, regulatory authorities are currently updating the Securities and Exchange Act to ensure digital investment tokens are regulated similarly to securities. However, you still needed to pay a 15% capital gains tax and declare your income.
Become A Crypto Investor & Diversify Your Portfolio
Thailand is becoming a global hub for crypto investment, attracting enthusiasts from across the globe. Its supportive policies, better taxation policy, and low cost of living make it a fertile ground for the best crypto investment nation in the world. We hope you liked this blog. Stay tuned to us for more informative blogs.
