Crypto Tax-Free Countries In 2024

When it comes to cryptocurrency, the majority of nations take a neutral stance confused about its impact on the economy and considering the threats it poses to the nation’s security and banking system.

Among the rest, some of them take a hostile approach, imposing heavy taxes and restrictions, making it impossible for the crypto industry to grow within the financial space of the country.

A few of them, on the other hand, favor the growth of the industry by providing a nurturing environment, foreseeing the prospects that could benefit their economy greatly in the future.

Here is a list of a few such countries that take a friendlier approach, allowing cryptocurrency transactions to go tax-free within their borders.


Unless you are a professional day trader in Switzerland, or mine crypto on a professional level, you have nothing to worry about in terms of taxation.

So, if you are not a professional trader, your gains from the trade will be exempted from Capital Gains Tax.

Switzerland is generally considered a tax-friendly country, which is one of the many factors that make it one of the best countries to live in the world.

Having said that, if you are a professional, you will have to pay a wealth tax ranging from 0.5% to 0.8% of your annual net worth, apart from the income tax the country charges on your profits from crypto mining.


Crypto assets, including tokens, being intangible assets, the transactions the users carry out buying goods or services will be perceived as a barter system and don’t get charged a tax of any kind.

Also, Singapore does not have a Capital Gains Tax, which makes it an attractive destination for businesses and investors.

However, if you are registered as a business of any kind and accept cryptocurrency as a payment, it will be taxed.

Also, if the company belongs to the crypto industry, the same being their core service, you will have to pay an income tax on your earnings.


In this ‘Blockchain Island’, long-term gains are tax-free. The government here considers cryptocurrencies as a store of value, a medium of exchange, or a unit of account, which exempts them from paying Capital gains Tax on the sale of long-term holdings.

Crypto-day trading, on the other hand, is an entirely different story. It is considered the same as stock trading and will be charged a business income in the range of 0-35% based on your earnings as well as your residency.


Germany is a tax haven only if you are a long-term holder of crypto assets. In Germany, crypto coins are private money as opposed to income in fiat currency being a capital asset. 

These rules do not apply to holding less than 365 days. You will be charged a certain amount unless the profit is below €600.

The country also charges taxes on crypto mining, staking (unless you hold it for a period of 10 years or more), and getting paid in crypto.


Belarus is an absolute cryptocurrency tax-free country with no taxation on crypto trading, mining, staking, or any related activities.

All of this began in 2018 when the country legalized cryptocurrency within its borders. The tax relief laws were supposed to end in 2023 but are currently extended for a period of two more years up to 2025.

Apart from the tax privileges, the president also signed an act for digital economy development.

The law is created to support digital innovation centering the blockchain technology, aiming to turn the country into a digital economy and a forward-thinking hub for blockchain development.

El Salvador

El Salvador pioneered the race by becoming the first country to legalize and recognize Bitcoin as a currency.

This turned out to be one of the best economic decisions the country has made so far since this change surpassed everyone’s expectations in its impact on the country’s economy as well as overall growth.

As part of exempting taxes, be it capital gains tax, income tax, or property tax, related to technological innovation, income and profit earned from cryptocurrencies enjoy the same tax privileges.

Also, Read: Crypto Taxes In UK

The Bottom Line

Now, this is not the whole list. There are several other countries including Portugal, Puerto Rico, Malaysia, Georgia, the United Arab Emirates, the Cayman Islands, and Costa Rica, that offer tax privileges on cryptocurrency-based transactions.

While some of them provide a full exemption, some others charge a certain amount for professional traders.

Either way, it would take time to comprehend the full impact of these decisions, and they could vary depending on different factors, where some countries might emerge as successful, like El Salvador, and others might not.

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