If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or thought of doing so), a few questions might pop up over and over: Is Bitcoin legal … and is Bitcoin safe?
These questions are understandable. The typical person in Good Hope 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 nations. 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 Good Hope, just click here to find a nearby low-fee, 24-hour-customer-service Bitcoin ATM.
When you change money to Bitcoin, you enter a financial realm where you are in complete control. Bitcoin is not restricted by any government regulations, nor policies of third-party financial Good Hope 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 stored in wallets you hold. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.
The volume of Good Hope 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 buy and use Bitcoin. Given that 25 percent of U.S. and Good Hope households are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other reason – is reasonable. Bitcoin security is unrivaled, safeguarded by a global network of complex computers employing blockchain technology.
Transactions involving Bitcoin are instantaneously completed. 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 option to traditional money. If you’re interested in exploring Bitcoin, perhaps begin with a minimal amount. Visit a cheap local Bitcoin ATM near Good Hope 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 maximum levels of compliance in the industry, secured by more than 30 money transmitter licenses. Coinsource is among the most entrusted Bitcoin ATM companies globally.
You’ll probably have additional questions … and that’s reasonable. But the answer to the recurring one – “Is Bitcoin legal and safe?” – will likely be answered in short order.