If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or considered doing so), a few questions probably reappear repeatedly: Is Bitcoin legal … and is Bitcoin safe?
These questions are legitimate. The average person in Adair 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 countries. For tax purposes, Bitcoin and cryptocurrencies are viewed as property.
Of thousands of cryptocurrencies, Bitcoin is the most prevalent and widely held. Demand has increased so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Adair, 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 arena where you are in total control. Bitcoin is not limited by any government regulations, nor rules of third-party financial Adair institutions. It’s a decentralized, global currency used for transactions only 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 hold. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.
The volume of Adair businesses and organizations using Bitcoin grows record. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are also on the list.
Anyone can buy and use Bitcoin. Given that 25 percent of U.S. and Adair households are unbanked or underbanked, its allure to those who don’t use banks – whether by choice or other reason – is natural. Bitcoin security is unrivaled, shielded by a worldwide network of complex computers using blockchain technology.
Transactions using Bitcoin are immediately completed. There’s no hangups. The virtual cash is kept in an online “crypto wallet,” impenetrable to all but those who know its private “key.”
In short, Bitcoin is for those who desire a safe, private alternative to everyday money. If you’re interested in checking out Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Adair and invest a few dollars’ cash. Get a feel for how a virtual wallet works, and how Bitcoin is used to buy products and services.
You can feel safe doing so, too! Coinsource Bitcoin ATMs have one of the greatest levels of compliance in the field, backed by more than 30 money transmitter licenses. Coinsource is among the most trusted Bitcoin ATM companies in the world.
You’ll likely have additional questions … and that’s rational. But the answer to the recurring one – “Is Bitcoin legal and safe?” – will likely be answered in short order.