If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or wondered about doing so), a few questions likely pop up over and over: Is Bitcoin legal … and is Bitcoin safe?
These questions are reasonable. The average person in Bushnell knows next to 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 nations. For tax considerations, Bitcoin and cryptocurrencies are treated as property.
Of thousands of cryptocurrencies, Bitcoin is the most popular and widely held. Demand has gone up so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Bushnell, 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 complete control. Bitcoin is not bound by any government regulations, nor policies of third-party financial Bushnell 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 kept in wallets you manage. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet storing them.
The number of Bushnell businesses and organizations using Bitcoin grows gradually. 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 Bushnell households are unbanked or underbanked, its attraction to those who don’t use banks – whether by choice or other reason – is natural. Bitcoin security is unrivaled, shielded by a global network of complex computers utilizing blockchain technology.
Transactions involving Bitcoin are immediately completed. There’s no paperwork. 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 option to conventional money. If you’re interested in exploring Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Bushnell and invest a few dollars’ cash. Get a feel for how a virtual wallet works, and how Bitcoin is employed 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 market, backed by more than 30 money transmitter licenses. Coinsource is among the most trusted Bitcoin ATM companies in the world.
You’ll probably have more questions … and that’s natural. But the answer to the recurring one – “Is Bitcoin legal and safe?” – should be answered in short order.