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Slovenia is a Cryptocurrency Adoption Leader;Why?

www.cryptovibes.com 17 June 2019 08:30, UTC
Reading time: ~2 m

Slovenia is significantly small compared to the United States. Moreover, this country of 2 million people has more retail locations that accept Bitcoin Cash (BCH) than the whole of the US. The question is; what makes this small country such a major crypto adoption leader?

Slovenian Crypto Country

Research done previously revealed that several factors make the country a major crypto hub. Nonetheless, the most considerable factor that makes Slovenia a crypto nation is its welcoming regulatory attitude. Possession of various digital assets is legal in the country. Moreover, any capital income gained from trading cryptocurrency does not in any way attract any income tax for individuals.

Many places accept Bitcoin Cash. Also, the policy set in the country enable many Slovenian startups to develop technologies that enable the cryptocurrency market in the country to thrive.

What is more, the Slovenian political leadership is open, ready, and receptive to innovation. The former Prime Minister, Miro Cerar, has appeared on record many times voicing his support for the nascent cryptocurrency sector. All this positive vibe towards the industry makes the country highly attractive to entrepreneurs seeking to dive into the ever-growing virtual currency and digital asset industry.

Solving the Mystery

Studies show that the primary reason that has made hundreds of Slovenian retail locations to start accepting crypto payments is Eligma. That is the startup behind the development of Elipay. Elipay is a transaction processing system that allows in-shop mobile purchases with Bitcoin, Bitcoin Cash, Ethereum, and its local ELI token.

The best example comes from a major shopping center that goes by the name BTC City. The mall is situated in the Slovenian capital of Ljubljana. Many of the stores in this center now accept cryptocurrency transactions done via the Elipay system.

Hence, it is evident that there is a growing trend for the actual usage of digital tokens in Slovenia. The number of Elipay wallet users is growing currently sitting above 15,000. Additionally, the Elipay system now accepts crypto payments from the Bitcoin.com Wallet app. That enables owners of over 4 million user-generated wallets to purchase in-store in supporting locations.

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