Yes, bitcoin is accepted in Cyprus.
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Yes, bitcoin is accepted in Cyprus. As of now, several merchants and businesses in Cyprus are accepting bitcoin as a payment method. Additionally, there are also bitcoin ATMs available in the country.
One of the most famous quotes on bitcoin comes from billionaire investor Warren Buffett, who once said, “Stay away from it. It’s a mirage, basically.”
Here are some interesting facts on bitcoin and its use in Cyprus:
- In 2013, the Central Bank of Cyprus issued a statement warning about the potential risks of using bitcoin and other cryptocurrencies.
- Despite this warning, a growing number of merchants and businesses have started accepting bitcoin in recent years.
- Cyprus is home to several bitcoin ATM machines, including in the cities of Limassol and Nicosia.
- The first known bitcoin transaction in Cyprus occurred in 2013, when a local barbershop started accepting the digital currency.
- According to data from CoinMap, there are currently over 20 bitcoin-accepting businesses in Cyprus, including restaurants, cafés, bars, and even a car dealership.
Below is a table of some of the businesses in Cyprus that currently accept bitcoin as a payment method:
| Business Name | Industry | Location |
|---|---|---|
| Artio Concept | Restaurant | Paphos |
| Delphi Catering | Catering | Limassol |
| Ithaki Restaurant | Restaurant | Paphos |
| Kafeneio 11 | Café | Nicosia |
| Nakamoto Luxury Cars | Car Dealership | Limassol |
In conclusion, while there are still some concerns about the risks of using bitcoin, it is clear that the cryptocurrency is gaining acceptance in Cyprus. With more merchants and businesses accepting the digital currency, it will be interesting to see how its use evolves in the years to come.
Video answer to “Is bitcoin accepted in Cyprus?”
The video explains that in Cyprus, cryptocurrencies are taxed unless an individual can provide evidence that they do not trade them regularly. For those who do trade cryptocurrencies, normal taxation applies, including a corporation tax of 12.5% and a dividend tax of 17% for residents. Trading using a company can result in lower taxes, and tax calculators are available on cyprusaccountants.com.cy. However, holding cryptocurrencies for a year or two before selling and seeking tax planning advice can be used to avoid taxation.
I discovered more data
Legal The Central Bank of Cyprus has stated that bitcoin and other cryptocurrencies are "not illegal, but, at the same time, neither it is subject to control or regulation". Businesses and citizens of Cyprus enjoy a relatively relaxed regulatory cryptocurrency environment with no specific legal or regulatory framework in force.
Runners Up Other regions becoming more accepting of bitcoin and cryptocurrency include Cyprus and Malta, as well as countries experiencing economic uncertainty and currency volatility such as Venezuela and Zimbabwe. 46
The University of Nicosia in struggling euro zone nation Cyprus is to become the first university in the world to accept the virtual currency bitcoin, according to a press release on its website.
University of Nicosia in Cyprus First in the World to Accept Bitcoin
Also, people ask
Is bitcoin legal in Cyprus?
As an answer to this: The Central Bank of Cyprus has stated that bitcoin and other cryptocurrencies are "nnot illegal, but, at the same time, neither it is subject to control or regulation". Businesses and citizens of Cyprus enjoy a relatively relaxed regulatory cryptocurrency environment with no specific legal or regulatory framework in force.
What are the best cryptocurrency exchanges in Cyprus?
In reply to that: We found 10 trusted online cryptocurrency exchanges operating in Cyprus including Binance, Kraken, and eToro. We may receive compensation when you click certain products. Before getting started, an important disclosure * Investing in crypto assets is unregulated. Non deliverable. No consumer protection. You risk losing all of your investment.
What is Cyprus’s cryptocurrency regulation?
On May 15, 2018, the Cyprus Securities and Exchange Commission (CySEC) published Circular C. 268. The Act is titled “Introduction of New Rules Governing Derivatives on Virtual Currencies.” In this Act, CySEC clarified several aspects of Cyprus’s cryptocurrency regulation.
How to buy Bitcoin and other cryptocurrencies?
The response is: To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange. Some of the payment methods provided by Binance and Kraken are: Credit Card, Debit Card, Bank Transfer (SEPA), SWIFT.
Is bitcoin legal in Cyprus?
The response is: The Central Bank of Cyprus has stated that bitcoin and other cryptocurrencies are "nnot illegal, but, at the same time, neither it is subject to control or regulation". Businesses and citizens of Cyprus enjoy a relatively relaxed regulatory cryptocurrency environment with no specific legal or regulatory framework in force.
How to buy Bitcoin and other cryptocurrencies?
To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange. Some of the payment methods provided by Binance and Kraken are: Credit Card, Debit Card, Bank Transfer (SEPA), SWIFT.
What are the best cryptocurrency exchanges in Cyprus?
As a response to this: We found 10 trusted online cryptocurrency exchanges operating in Cyprus including Binance, Kraken, and eToro. We may receive compensation when you click certain products. Before getting started, an important disclosure * Investing in crypto assets is unregulated. Non deliverable. No consumer protection. You risk losing all of your investment.
How to invest in cryptocurrency in Greece?
Answer to this: Greece Greece taxes 15% on capital gains arising from cryptocurrency transactions. There is no regulatory framework for bitcoin or cryptocurrencies in Greece. Greece has the most popular golden visa program in Europe. You just need to buy a property 250K euro anywhere in Greece, there are other routes as well for business and govt bonds