Bitcoin and Cryptocurrency in Georgia: A Comprehensive Guide
Why Georgia is a Crypto-Friendly Country?
Georgia has emerged as one of the most crypto-friendly nations in the world. With low electricity costs, tax incentives, and government support, it has attracted crypto miners, traders, and investors. The country does not have capital gains tax on cryptocurrency, making it an appealing hub for crypto enthusiasts.
1. Cryptocurrency Regulations in Georgia
Is Crypto Legal in Georgia?
Yes! Bitcoin and other cryptocurrencies are legal in Georgia. The government has taken a neutral stance, allowing citizens to trade, mine, and invest without strict regulations.
Is Crypto Taxed in Georgia?
- No VAT (Value-Added Tax): Crypto transactions are exempt from VAT.
- No Capital Gains Tax: Individuals do not pay capital gains tax on crypto earnings.
- Corporate Tax: Companies dealing in crypto services must pay a 15% corporate tax.
For official regulations, check Georgia’s National Bank.
2. Bitcoin Mining in Georgia
Georgia is a mining hotspot due to cheap electricity and a business-friendly environment.
Why Georgia is a Mining Hub?
- Low electricity costs: ~0.05 USD per kWh, making mining profitable.
- Crypto-friendly policies: No VAT on mining profits.
- Presence of major mining farms: Bitfury, one of the largest mining companies, operates in Georgia.
Best Places for Mining in Georgia
- Tbilisi – Business-friendly regulations.
- Kutaisi & Rustavi – Cheap electricity & mining farms.
- Free Industrial Zones (FIZs) – Offer tax exemptions for businesses.
For setting up mining operations, visit Tbilisi Free Zone.
3. Buying and Selling Bitcoin in Georgia
Crypto Exchanges Available in Georgia
Georgians can buy and sell Bitcoin through international and local exchanges:
Popular Global Crypto Exchanges
Local Georgian Crypto Exchanges
- Coinmania – Accepts Georgian Lari (GEL).
- Cryptal – A Tbilisi-based exchange.
- MyCoins – Supports bank transfers & cash payments.
4. Crypto ATMs in Georgia
Bitcoin ATMs allow users to buy and sell Bitcoin for cash. Georgia has several Bitcoin ATMs in major cities.
Where to Find Bitcoin ATMs in Georgia?
- Tbilisi Mall – Accepts GEL, USD, and EUR.
- Rustaveli Avenue, Tbilisi – 24/7 Bitcoin ATM.
- Kutaisi & Batumi – Limited availability.
For the latest locations, check CoinATMRadar.
5. Using Bitcoin for Payments in Georgia
Cryptocurrency adoption is growing, and many places accept Bitcoin as a payment method.
Where Can You Spend Bitcoin in Georgia?
- Hotels & Resorts: Some boutique hotels in Tbilisi accept BTC.
- Cafés & Restaurants: Select places in Vake & Saburtalo districts.
- Real Estate: Developers in Batumi & Tbilisi accept crypto payments.
- Freelance & IT Services: Many freelancers accept payments in Bitcoin.
For a list of crypto-friendly businesses, visit CoinMap.
6. Future of Cryptocurrency in Georgia
Georgia is positioned as a leading blockchain and crypto hub. The government is working on a central bank digital currency (CBDC), and blockchain-based land registry systems are already in place.
Future prospects include:
- More crypto-friendly regulations to attract investors.
- Increased Bitcoin adoption in businesses and real estate.
- Integration of blockchain technology into public services.
For updates, follow Georgian Blockchain Association.
FAQs: Bitcoin & Cryptocurrency in Georgia
Is Bitcoin legal in Georgia?
Yes, Bitcoin is legal, and you can trade, mine, and hold it without restrictions.
Do I need to pay taxes on crypto in Georgia?
No, individuals do not pay capital gains tax, but companies must pay 15% corporate tax.
Are there Bitcoin ATMs in Georgia?
Yes, Bitcoin ATMs are available in Tbilisi, Batumi, and Kutaisi.
Can I use crypto for payments in Georgia?
Yes, some hotels, cafés, and real estate companies accept Bitcoin.
Is mining Bitcoin profitable in Georgia?
Yes, due to cheap electricity costs and a friendly business environment.