If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or wondered about doing so), a few questions probably pop up over and over: Is Bitcoin legal … and is Bitcoin safe?
These questions are reasonable. The average person in Bardolph knows virtually nothing about electronic cash, currency that exists in the virtual world. 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 treated 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 Bardolph, 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 realm where you are in total control. Bitcoin is not controlled by any government regulations, nor rules of third-party financial Bardolph institutions. It’s a decentralized, worldwide currency used for transactions directly 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 holding them.
The number of Bardolph businesses and organizations taking Bitcoin grows gradually. 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 Bardolph 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, guared by a global network of complex computers employing blockchain technology.
Transactions using Bitcoin are instantly finalized. There’s no complications. The virtual cash is maintained in an online “crypto wallet,” unreachable to all but those who know its private “key.”
In short, Bitcoin is for those who want a safe, private alternative to standard money. If you’re interested in exploring Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Bardolph 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 greatest levels of compliance in the field, secured by more than 30 money transmitter licenses. Coinsource is among the most entrusted Bitcoin ATM companies in the world.
You’ll probably have additional questions … and that’s reasonable. But the answer to the recurring one – “Is Bitcoin legal and safe?” – should be answered in short order.