If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or wondered about doing so), a few questions likely pop up repeatedly: Is Bitcoin legal … and is Bitcoin safe?
These questions are reasonable. The average person in Macon County knows virtually nothing about electronic cash, money 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 countries. For tax considerations, Bitcoin and cryptocurrencies are treated as property.
Of thousands of cryptocurrencies, Bitcoin is the most common and extensively held. Demand has increased so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Macon County, 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 realm where you are in total control. Bitcoin is not restricted by any government regulations, nor policies of third-party financial Macon County 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 stored in wallets you control. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet storing them.
The volume of Macon County businesses and organizations accepting Bitcoin grows roll. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are also on the register.
Anyone can purchase and use Bitcoin. Given that 25 percent of U.S. and Macon County households are unbanked or underbanked, its allure to those who don’t use banks – whether by choice or other reason – is understandable. Bitcoin security is unsurpassed, protected by a worldwide network of complex computers employing blockchain technology.
Transactions involving Bitcoin are instantaneously finalized. There’s no complications. The virtual cash is managed in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who want a safe, private option to everyday money. If you’re interested in checking out Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Macon County and invest a few dollars’ cash. Gain an understanding of how a virtual wallet works, and how Bitcoin is utilized to purchase products and services.
You can feel safe doing so, too! Coinsource Bitcoin ATMs have one of the highest levels of compliance in the market, backed by more than 30 money transmitter licenses. Coinsource is among the most entrusted Bitcoin ATM companies in the world.
You’ll likely 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.