Common Question of People in Mattoon: Is Bitcoin legal? Is Bitcoin Safe?

Find a Local Bitcoin ATM


Find a Local Bitcoin ATMIf you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or wondered about doing so), a few questions might pop up repeatedly: Is Bitcoin legal … and is Bitcoin safe?


These questions are reasonable. The average person in Mattoon knows virtually nothing about electronic cash, currency that exists in the virtual realm. 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 viewed as property.


Of thousands of cryptocurrencies, Bitcoin is the most prevalent and broadly held. Demand has gone up so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Mattoon, just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.


When you convert money to Bitcoin, you enter a financial world where you are in total control. Bitcoin is not bound by any government regulations, nor policies of third-party financial Mattoon institutions. It’s a decentralized, global currency used for transactions solely between two parties, with neither aware whom the other is. So, that leads us to the question: Is Bitcoin safe?


Bitcoin and other cryptocurrencies should only be maintained in wallets you manage. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet storing them.


The volume of Mattoon businesses and organizations using Bitcoin grows continuously). Household names such as Microsoft, Best Buy and Dish Network are on the {roster. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are also on the list.


Anyone can acquire and spend Bitcoin. Given that 25 percent of U.S. and Mattoon households are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other reason – is reasonable. Bitcoin security is unparalleled, shielded by a worldwide network of complex computers employing blockchain technology.


Transactions using Bitcoin are immediately completed. There’s no paperwork. The virtual cash is managed in an online “crypto wallet,” unreachable to all but those who know its private “key.”


In short, Bitcoin is for those who seek a safe, private option to conventional money. If you’re interested in checking out Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Mattoon and invest a few dollars’ cash. Gain an understanding of 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 highest levels of compliance in the field, secured by more than 30 money transmitter licenses. Coinsource is among the most entrusted Bitcoin ATM companies worldwide.


You’ll probably have more questions … and that’s normal. But the answer to the recurring one – “Is Bitcoin legal and safe?” – should be answered in short order.


near Mattoon, IL