Common Question of People in Macomb: 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 wondered about doing so), a few questions probably pop up repeatedly: Is Bitcoin legal … and is Bitcoin safe?


These questions are understandable. The typical person in Macomb knows almost nothing about electronic cash, money 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 purposes, Bitcoin and cryptocurrencies are treated as property.


Of thousands of cryptocurrencies, Bitcoin is the most prevalent and extensively held. Demand has gone up so much that more than 4,000 local Bitcoin ATMs operate in the U.S. If you’re in Macomb, 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 world where you are in complete control. Bitcoin is not controlled by any government regulations, nor policies of third-party financial Macomb institutions. It’s a decentralized, worldwide currency used for transactions directly 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 kept in wallets you control. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.


The number of Macomb businesses and organizations taking 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 list.


Anyone can acquire and spend Bitcoin. Given that 25 percent of U.S. and Macomb households are unbanked or underbanked, its appeal to those who don’t use banks – whether by choice or other reason – is natural. Bitcoin security is unrivaled, protected by a global network of complex computers using blockchain technology.


Transactions involving Bitcoin are instantaneously finalized. There’s no hangups. 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 seek a safe, private alternative to everyday money. If you’re interested in checking out Bitcoin, perhaps begin with a small amount. Visit a cheap local Bitcoin ATM near Macomb and invest a few dollars’ cash. Gain an understanding of how a virtual wallet works, and how Bitcoin is used to purchase products and services.


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


You’ll probably 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.


near Macomb, IL