If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or considered doing so), a few questions probably pop up repeatedly: Is Bitcoin legal … and is Bitcoin safe?
These questions are understandable. The average person in Fountain County knows next to nothing about electronic cash, money that exists in the virtual arena. 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 common 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 Fountain County, 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 arena where you are in total control. Bitcoin is not restricted by any government regulations, nor rules of third-party financial Fountain County institutions. It’s a decentralized, worldwide 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 managed in wallets you maintain. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.
The number of Fountain County 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 obtain and use Bitcoin. Given that 25 percent of U.S. and Fountain County 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 unmatched, safeguarded by a worldwide network of complex computers utilizing blockchain technology.
Transactions using Bitcoin are instantaneously finalized. There’s no paperwork. The virtual cash is kept 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 everyday money. If you’re interested in checking out Bitcoin, perhaps begin with a minimal amount. Visit a cheap local Bitcoin ATM near Fountain County and invest a few dollars’ cash. Gain an understanding of 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 maximum levels of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is among the most trusted Bitcoin ATM companies worldwide.
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.