Common Question of People in Georgetown: 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 thought of doing so), a few questions probably reappear over and over: Is Bitcoin legal … and is Bitcoin safe?


These questions are reasonable. The average person in Georgetown knows next to 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 considerations, Bitcoin and cryptocurrencies are treated as property.


Of thousands of cryptocurrencies, Bitcoin is the most common and extensively held. Demand has grown so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Georgetown, 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 Georgetown institutions. It’s a decentralized, global currency used for transactions solely between two parties, with neither cognizant of 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 hold. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet storing them.


The volume of Georgetown 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 register.


Anyone can acquire and spend Bitcoin. Given that 25 percent of U.S. and Georgetown 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 finalized. There’s no hangups. The virtual cash is maintained 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 traditional money. If you’re interested in exploring Bitcoin, perhaps open with a minimal amount. Visit a cheap local Bitcoin ATM near Georgetown and invest a few dollars’ cash. Gain an understanding of how a virtual wallet operates, and how Bitcoin is employed to obtain products and services.


You can feel safe doing so, too! Coinsource Bitcoin ATMs have one of the maximum levels of compliance in the field, backed by more than 30 money transmitter licenses. Coinsource is among the most trusted Bitcoin ATM companies globally.


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.


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