If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or thought of doing so), a few questions might pop up repeatedly: Is Bitcoin legal … and is Bitcoin safe?
These questions are legitimate. The average person in Lerna knows next to nothing about electronic cash, currency that exists in the virtual arena. As of September 2020, Bitcoin and cryptocurrencies are legal in the U.S., Japan, Canada, the U.K. and most other developed nations. For tax considerations, Bitcoin and cryptocurrencies are treated as property.
Of thousands of cryptocurrencies, Bitcoin is the most popular and extensively held. Demand has gone up so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Lerna, just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you switch money to Bitcoin, you enter a financial arena where you are in complete control. Bitcoin is not bound by any government regulations, nor rules of third-party financial Lerna institutions. It’s a decentralized, global currency used for transactions solely between two parties, with neither knowing whom the other is. So, that leads us to the question: Is Bitcoin safe?
Bitcoin and other cryptocurrencies should only be kept in wallets you hold. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.
The number of Lerna businesses and organizations accepting Bitcoin grows roll. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are also on the list.
Anyone can purchase and use Bitcoin. Given that 25 percent of U.S. and Lerna households are unbanked or underbanked, its attraction to those who don’t use banks – whether by choice or other reason – is reasonable. Bitcoin security is unsurpassed, shielded by a worldwide network of complex computers using blockchain technology.
Transactions using Bitcoin are instantaneously completed. There’s no hangups. The virtual cash is stored in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who seek a safe, private alternative to everyday money. If you’re interested in checking out Bitcoin, perhaps start with a minimal amount. Visit a cheap local Bitcoin ATM near Lerna and invest a few dollars’ cash. Get a feel for how a virtual wallet operates, and how Bitcoin is used to buy products and services.
You can feel safe doing so, too! Coinsource Bitcoin ATMs have one of the maximum levels of compliance in the field, supported by more than 30 money transmitter licenses. Coinsource is among the most entrusted Bitcoin ATM companies worldwide.
You’ll probably have additional questions … and that’s rational. But the answer to the recurring one – “Is Bitcoin legal and safe?” – should be answered in short order.