Original author: CloudY
Original editor: Vincero, YL
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What is Crypto Nomad
Digital Nomad
Nomad, nomad, originally refers to a nomad who lives without a fixed place, but it can also be understood as a person who roams around without a fixed residence or destination. When the Internet became popular around the world 5-10 years ago, the term Digital Nomad frequently appeared on various media platforms. The powerful and mature infrastructure of the Internet and the various new types of jobs that follow make Digital Nomad possible. In fact, Digital Nomad is not a profession, nor a job, but a way of life, a way of working through mobile devices and the Internet, free to design your own working methods and working places, just like work-life balance. Therefore, it is also called mobile office or teleworking. And these two words are not uncommon in the past three years of the epidemic. It is the epidemic that has brought about tremendous changes in the way people work and live. This change has gradually transformed Digital Nomad from an ideal life to a life that many people can try and even live.
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Crypto Nomad
Similar to Digital Nomad, we define Crypto Nomad—encrypted nomads as people who work on the move through the Internet and are mainly involved in the Crypto industry business without a fixed place of work and life. They use digital currencies as a form of payment for various purposes such as travel, shopping, and investing. This way of life is becoming more and more popular under the epidemic and war. The epidemic has restricted peoples commuting and hindered communication between countries. In addition, the financial barriers brought about by the long-term war between Ukraine and Russia have made the currencies of various countries freely convertible. And exchange rate stability is difficult to achieve, but benefiting from the anonymity, decentralization and security of digital currency, as well as the convenience and speed of digital transactions, Crypto Nomad can live almost without obstacles.
At the same time, the growing encryption community and the development of the digital economy have facilitated the emergence of Crypto Nomad. The more complete infrastructure has made Crypto Nomad more free. Compared with 10 years ago, the global network has become more popular and more and more Many merchants and services accept digital currencies, such as hotels, restaurants, and online platforms. Of course, they still have to face some risks, such as the volatility of digital currency prices, lack of regulation and protection, and the potential risk of fraud and hacking.
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Crypto Nomad from China
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Factors of being Crypto Nomad
When we decide we want to live the Crypto Nomad life, the first question we face is Where to? Behind this seemingly simple question, there is a lot of information hidden, such as local policies on the encryption industry, local industry development status, visa acquisition, living costs, security, living environment, etc., as well as the preparations that need to be made before going work and capacity building. Since everyone has their own preferences, everyone needs to comprehensively consider the most suitable plan according to the actual situation. Therefore, this article will focus on introducing the relevant information of each country or region that can become the target destination, and provide you with the best way to live a life in Crypto Nomad. refer to.
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Policy
The policies of various countries on encrypted assets will determine the development of local industries, the convenience of using cryptocurrencies in their daily lives and the degree of national acceptance, which directly affects the opportunities and challenges that Crypto Nomad will face. At present, there are not many countries and regions that are more relaxed about the encryption industry, and most of them have gradually tightened their policies for supervision.
Of course, one of the most famous crypto-friendly countries in the crypto industry should beEl Salvadorup. The Republic of El Salvador is a country located in the northern part of Central America. It announced in September 2021 that Bitcoin will be used alongside the U.S. dollar as a national legal tender, and has subsequently introduced a series of policies to promote the application of Bitcoin payments in its country, including government support wallets, bitcoin ATMs, bitcoin trust funds, and more. El Salvador has even built a Bitcoin City along the coast at the foot of the Conchagua volcano.
Secondly, it was promoted by Justin SunDominica. Dominica is an island country located in the Caribbean Sea of Central America. In October 2022, it announced that 7 cryptocurrencies of the Tron series will become its legal tender and will issue a national cryptocurrency DMC. At the same time, Dominica allows the above-mentioned cryptocurrencies to be used for any economic activities, and transactions with Dominica’s current legal currency, the East Caribbean Dollar (XCD), are exempt from capital gains tax.
After all, the radical policy of using cryptocurrencies as legal tenders is a minority. Most countries and regions restrict the use of cryptocurrencies in their territories in a regulatory manner to reduce uncontrollable risks. However, there are also differences in regulation. For example, countries and regions such as the United States, the European Union, Japan, and Singapore have always adopted a relatively open and supportive attitude, encouraging the research and development of the domestic encryption industry, and at the same time restricting institutions such as centralized exchanges and wallets. Carry out supervision and establish relevant laws and regulations to protect the interests of consumers and investors.
U.S. releases its first in September 2022Encryption Regulatory Framework, clearly focused on protecting customers, preventing crimes, etc., and the subsequent SEC has also maintained its focus on the encryption industry, and issued fines to The Block and Blok.one;
The European Union has also adopted a landmark law in October 2022The Markets in Crypto Assets regulation bill (MiCA), which addresses the prevention of money laundering, consumer protection, accountability of cryptocurrency businesses, the industry’s environmental impact, and stablecoins, among others;
The pace of standardization in Japan is even closer. After the revision of the Payment Service Act (PAS) in 2017, it has successively promulgated and revised such as the Law on the Prevention of Transfer of Illegal Income, Financial Instruments and Act (Financial Instruments and Exchange Act, FIEA) and the Financial Instrument Sales Act, and even established an industry self-regulatory organization called the Japan Virtual Currency Exchange Association (JVCEA) to ensure that the encryption industry development of health norms;
As a financial center in the Asia-Pacific region, Singapore released the IRS Virtual Currency Guidance as early as 2014, which regards cryptocurrencies as property and currency. Singapore has always encouraged the use and development of encryption technology in Singapore, but recently it has been restricting peoples participation in the investment methods of encrypted assets, especially ICO, lending and highly leveraged transactions. Therefore, people in Singapore have a high degree of acceptance of encrypted assets. For example, large centralized exchange advertisements can often be seen in its subway (MRT) stations.
Similar situations exist in other countries and regions, such as South Korea and other Southeast Asian countries, which encourage the development of the encryption industry, but regulate and restrict encryption services for the public. Especially after the GameFi gold rush, encrypted assets have been rapidly popularized in Southeast Asian countries, and the attitudes of various governments are also extremely ambiguous because they help economic development.
In addition, Hong Kong, which recently plans to rely on the encryption industry to turn around, is also worth mentioning. self-publishedPolicy Declaration on the Development of Virtual Assets in Hong Kongsecondary title
Industry Development
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Source：Hutt Capital Blockchain VC Landscape — 2022 Edition
But when we look at theCityThis phenomenon will be more obvious. According to Crypto Fund Research, San Francisco and New York host the largest number of crypto funds in the world (>70), whileLondon、andandHongkongFollowed by the number of 30-50 encryption funds,Chicago, Shanghai, Los Angeles, Zug, Switzerland, Menlo Park, CA, and Santa MonicaIt is in the third camp of 10-20 encryption funds. It can also be clearly seen on the map that crypto funds areandandWestern Europemore concentrated, partly located inandandSoutheast Asia, and others are distributed inandandAustralia,andAfricaandsouth americaimage description
Source：Cryptocurrency Investment Fund Industry Graphs and Charts - - CryptoFundResearch
Source：Cryptocurrency Investment Fund Industry Graphs and Charts - CryptoFundResearch
When we take encryption projects as the target, according to the report of Zero One Think Tank, there will be 1,812 financing events in the global blockchain industry in 2021, and most of the financing projects are located inUnited States ( 536), and the number is extremely high, far exceeding that of the second echelonandandSingapore ( 96). and later onandandSwitzerland ( 28)image description
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Visa
As a citizen holding a Chinese passport, unlike other people who have passports from a large number of visa-free countries, visas are the primary factor we have to consider when traveling abroad. The entry visas of various countries can be roughly divided into several categories: 1. Travel; 2. Study abroad; 3. Work; 4. Business; 5. Green card/permanent residence. Since the main object of this article is Crypto Nomad, investment, marriage, buying passports and other immigration means are not within the scope of our discussion. This section will collect some online information to introduce the relevant visa information of several popular countries and regions.
First of all, due to the particularity of Chinese passports, we found the following picture based on Wikipedia data, which divides the visas that citizens holding ordinary Chinese passports can obtain into: 1. Visa-free; 2. Visa on arrival and electronic visa; 3. .Visa on arrival; 4. Electronic visa; 5. Exit-entry permit for Hong Kong and Macau; 6. Initial entry permit for Taiwan; 7. Need to apply for a visa in advance; At the same time, it is marked with the corresponding color according to the situation in different regions. From the figure, we can intuitively see that the regions where Chinese passports are relatively convenient are mainly distributed in Southeast Asia, the Middle East, Eastern Europe, East Africa and parts of South America. For details of the countries or regions that implement visa-free and visa-on-arrival for Chinese citizens, please refer to the 2019 release by the China Immigration Administration45 countries or regions implement visa-free and visa-on-arrival policies for Chinese citizens。
Due to geographical and geographic factors, Southeast Asian countries are usually more friendly to Chinese people, such as visa on arrival in Thailand and Indonesia, and electronic visas for multiple times a year in Malay. article -The Most Complete Southeast Asia Visa Guide. Due to economic, trade and historical reasons, Eastern Europe also has many preferential visa policies, such as visa-on-arrival and electronic visas for the three Caucasus countries (Armenia, Georgia, and Azerbaijan), as well as visa-free visas for Serbia, Bosnia and Herzegovina, and Albania. For visa details, please refer to Zhihu Article by user Niu Yueyue-Visa Guide for 16 Countries from India to Egypt.In the Middle East, there are mainly visa-free visas for Iran, the United Arab Emirates and Qatar, and visa-on-arrival for Saudi Arabia and Lebanon. For African visas, you can refer to this article on MafengwoVisa Guide for 25 African Countriesimage description
Source: Map of Passport Requirements for Chinese Citizens with Ordinary Chinese Passports - WikiPedia
In addition to the visa policy for Chinese citizens, due to the popularity of Digital Nomad all over the world, especially after the new crown pandemic, many countries have provided or plan to provide special visas for Digital Nomad to attract more people to spend. CountriesDigital Nomad VisaMost of them allow the holder to stay in their country for 1 year, some even longer, which is obviously much more attractive than a 15-30 day tourist visa. However, although the Digital Nomad visa is valid for a long time, each country has certain requirements for visa acquisition, such as: work proof, minimum income and income proof, minimum stay time in the country, maximum stay time, health insurance, cannot Paid work in the home country, etc. According to Ward Williams article on Investopedia《Countries Offering Digital Nomad Visas》, there are currently 49 countries and regions that have or plan to provide digital nomad visas, and are marked on the map below. For specific countries, you can enter Williams’ article to view. It can be seen from the figure that these regions are mainly distributed in theEurope,andandandAmericasecondary title
Source：Countries Offering Digital Nomad Visas - Ward Williams
Lifestyle, Cost and Safety
In addition to visas, the living environment, cost of living, and crime rate are all factors that Crypto Nomad needs to consider. The living environment represents a regions climate, culture, peoples friendliness, convenience, network quality, etc., and affects the quality of life. The cost of living is a key factor that Crypto Nomads must face up to. Relatively stable income and rationally planned expenditures are the prerequisites for Crypto Nomad to continue. The crime rate means the safety of ones own personal and property. Wearing gold and silver to walk in Singapore and New Delhi are two completely different moods. According to Digital Nomads famous website Nomadlist data and other network information, we have selected cities in some countries and summarized them.
Nomadlistimage description
Source：Ranking for nomad cities - Nomadlist
Unlike Nomadlist,Bethenny CarlThey gave different suggestions based on their personal experience, emphasizing the preferences of different groups of people on the cost of living and lifestyle. For example, some people prefer less work pressure and a more affordable homeless life, while others like to enjoy nightlife , Go to various places to explore and try different cuisines. Therefore, Carl gave a completely different recommendation list based on living conditions, transportation, weather, Internet, food and entertainment, medical care, crime rate and other factors, and attached the cost of living from low to high. For details, please go to Carls article. Six of these 11 cities are located in Europe, and the remaining five are scattered in Asia and the Americas, which shows a more typical European and American perspective.
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Source：Map of the 11 best location for digital nomad - Bethenny Carl
policypolicyIn fact, most countries are based on regulation to promote the development of the encryption industry and limit the participation of ordinary people to a certain extent. andindustry developmentIt is mainly concentrated in Hong Kong, Singapore, the United States, the United Kingdom and other places, and it is scattered in other countries and regions. existvisaIn general, the regions where Chinese passports are relatively convenient are Southeast Asia, the Middle East, Eastern Europe, East Africa, and parts of South America. However, considering the existence of the Dgital Nomad visa, southern Europe, Australia, and South Africa can also be considered. At onceandandsafetyfirst level title
Arbitragy Thinking
Arbitrage is the most essential way to obtain income. As a Crypto Nomad, it is actually a kind of transnational arbitrage behavior. With the development of globalization, everyone can share global liquidity and live in developing countries with the salary of developed countries. At the same time, the development of Blockchain technology and Crypto market also promotes globalization and liquidity, and improves efficiency.
As the most unique civilization among the four ancient civilizations (Babylon, ancient Egypt, ancient India, and ancient China), the Chinese civilization originated the latest (about 2000 BC, Sumerian civilization about 6000 BC, Fayoum Civilization about 5000 BC, Harappan civilization about 3000 BC), the most geographically remote (in East Asia, the farthest from the birthplace of other civilizations), the most closed and independent (due to the least communication with other civilizations due to geographical location), the only A civilization that has been passed down to this day (other ancient civilizations have not continued to this day), and it is these characteristics that have created this farming civilization that has lasted for thousands of years. Without the exploration and innovation of marine civilization, it is like a Swarm (worm swarm)-for individuals, freedom and wisdom are not the primary needs, but how to survive as a whole.
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Reference
Overview of Global Cryptocurrency Regulatory Policies
FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
Markets in crypto-assets (MiCA)
Full Interpretation of Japanese Cryptocurrency Regulations Amendment
Hutt Capital Blockchain VC Landscape — 2022 Edition
Policy Declaration on the Development of Virtual Assets in Hong Kong
Cryptocurrency Investment Fund Industry Graphs and Charts
Global Blockchain Investment and Financing Report (2021)
45 countries or regions implement visa-free and visa-on-arrival policies for Chinese citizens
Raiders|The most complete global visa guide!
The Most Complete Southeast Asia Visa Guide
Visa strategy for 16 countries from India to Egypt
Visa guide for 25 countries in Africa
Passport Requirements Map for Chinese Citizens with Ordinary Chinese Passports
Countries Offering Digital Nomad Visas
11 Best Locations to Be a Digital Nomad in 2022
Nomadlist
