Free markets, low taxes and a high standard of living. You guessed it right: We are talking about Helvetia. In recent years this country became a hotspot for all things Bitcoin and Crypto for several reasons. Find out why it is easy and propitious to live on Bitcoin and altcoins in Switzerland.
Bitcoin Tax-imalists
Switzerland is one of the biggest defendants of free markets and is eager to keep taxes low through a competition of the different cantons. Believe it or not, buying, selling and spending bitcoin is not a taxable event for Swiss Inhabitants. This means there’s no hurdles in deciding which money you want to use in your life, you are simply free of choice.
Of course there is a certain wealth tax in most cantons for your general holdings, but it is comparably low and only takes effect for somewhat higher amounts. People like Thomas Lohbeck whom we’ve talked to, a longtime Bitcoin expert, are happy about these benevolent regulations which enable almost entirely living on a personal bitcoin standard.
The Crypto Hub
The swiss canton of Zug, right in the heart of the country, decided to be a pioneer for cryptocurrencies very early by making regulations very appealing for blockchain startups of all kinds. Companies like Shapeshift and the Ethereum Foundation are based there. This gave that area the name “Crypto Valley”. The city of the same name even enables its residents to pay government fees and taxes in Bitcoin or Ether, making the fully-live-on-Crypto objective closer its residents.
Many of the Bitcoin offerings and services are handled by Bitcoin Suisse, one of the pioneer companies and its well known Founder Niklas Nikolajsen sitting in Zug as well. They are helping people all over Switzerland to buy and accept Bitcoin and spread the word about this decentralised form of money.
Photo by Peter Wormstetter on Unsplash
Infrastructure — Get it and Spend it
According to Coin ATM Radar there are over 100 Bitcoin ATMs all over Switzerland but that is not the end of the story! The Swiss Federal Railways Company SBB enabled their more than 1000 Ticket-ATMs on more than 700 train stations to sell Bitcoin to customers directly. However, in addition to such ATM providers, there are of course also other providers and exchanges as the mentioned Bitcoin Suisse or the low-KYC Startup Relai, enabling you to buy Bitcoin easily as a Swiss citizen.
Living on crypto means paying for your everyday needs without using the legacy banking system. The city of Zug is also at the forefront in this area as lots of shops and stores accept bitcoin and other crypto, but to be able to get everyday products and services for your Bitcoin across the country there is nothing better and easier to use than Bitrefill. It provides a catalog of gift cards, prepaid mobile refills, and Lightning Network services that can be purchased using Bitcoin and other cryptocurrencies worldwide.
Let’s go Shopping
With Bitrefill you can get vouchers (merchant credit) for online shops as well as for certain retail stores, while more and more get added almost every month. Ordering your newest outfit at Zalando or making a bargain at Digitec as well as Galaxus and paying with Bitcoin is no longer a dream. Several e-commerce companies work with Bitrefill and you get your redeemable gift code seconds after paying for it in crypto, with nothing but an email address. Even buying Apple or Google gift cards is possible to pay for your apps, movies, etc.
Creating an account is not required in Bitrefill, but if you do it only takes a few seconds (no ID verification) and you get 1% sats back rewards on your shopped goods. Through the additional cooperation with physical stores such as MediaMarkt and H&M you can buy your products in the store itself as well, after purchasing the voucher with your crypto coins at Bitrefill before heading to the cashier.
Around the World
Cryptocurrencies are international and without borders. Of course travelling services must not be missing here. It doesn’t matter if you’re flying, or taking the FlixBus to get to the Hotel of your dreams, you will be able to pay for it in your favourite currency.
Stay in Touch
From Migros brand M-Budget, to video chat service Skype, to Swiss mobile giants Swisscom and Sunrise you can find lots of vouchers for providers of all sorts. This enables you to purchase your mobile credits super fast and more privately. If you are less a caller and more someone who’s yelling at their friends when gaming, it will serve you with all the products you need. Nintendo, PlayStation and Xbox are just a few of the companies working together with Bitrefill.
Lightning Fast Purchase
Besides being a great offramp for your altcoins, you can also pay with BTC on the super fast and cheap Lightning Network, a payment system built on Bitcoin to enable quick retail payments. Lightning increases privacy even further and comes with instant settlement, which means less Customer Support issues and wait times.
Let’s face it: Switzerland definitely is one of the best places to use and live on bitcoin in the world, and will defend that role in the future. If you like the idea of living on crypto, check out our Website to find even more categories and interesting services and setting your personal bitcoin standard for your income, expenses and savings.
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