I did a blog on Digital Nomads a short while ago, but didn't really touch on how the Crypto market has affected them, both from the good and the bad side of it. The great thing is the idea of traveling the world, independent of any one country and making your living with your laptop on the beach (first problem, laptops don't like a lot of sun, you need a shade hood to read it, and they certainly don't like sand :) I'm still looking for a good set of small AR glasses for that application! any ideas?
But back to Crypto, the interesting thing I have found, is that pretty much most of the exchanges or Bitcoin ATMs and other analog (people) are more interested in selling Crypto, than in buying. It is very easy to buy it, with no NYC needed, but selling, & getting local fiat, oh boy, they want to know everything. So this brings up the problem that even though you have left your home country to become a Digital Nomad, you still have to drag it around with you unless you give up your citizenship. and become a Crypto-Nomad
I suspect that just like merchant ships have been flying a "Flag of convenience" , for well over a half century. Ship's owners usually elect to register a ship in a foreign country which enables it to avoid the regulations of the owners' country which may, for example, have stricter safety standards. They may also select a jurisdiction to reduce operating costs, avoiding higher taxes in the owners' country and bypassing laws that protect the wages and working conditions of mariners.
So if certain individuals find that the taxes of their home countries to be too onerous, they may decide to fly their own Flag of convenience and leave their country of birth forever after all it's pretty simple,
"go where you’re treated best"
In January of 2020, Estonia announced a “digital nomad visa,” which lets qualifying non-European digital nomads stay and work in the country for a full year. (Applicants must make at least $4,100 per month and prove they have work contracts or businesses registered outside of Estonia.) More than 10,000 people have signed up for more information about Estonia’s program, they reported.
Not long after, Barbados unveiled the “Barbados Welcome Stamp,” which allows foreigners to live and work there, tax-free, for a year (the stamp costs $2,000 per individual; $3,000 for families). And Bermuda created the Work From Bermuda Certificate, letting people who have “substantial means” or a “continuous source of annual income” work there for up to 12 months.
So the question I have, is after the Covid 19 debacle ends, will there be an exodus from high tax countries to low or no tax countries by Digital Nomads or as I'm thinking of calling them "Citizens of the world" that want to rove around and be free just like Crypto does...