If you’ve ever dabbled in Bitcoin or cryptocurrencies in general (or wondered about doing so), a few questions might reappear repeatedly: Is Bitcoin legal … and is Bitcoin safe?
These questions are reasonable. The typical person in Hudson County knows almost 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 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 Hudson County, 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 arena where you are in total control. Bitcoin is not controlled by any government regulations, nor rules of third-party financial Hudson County institutions. It’s a decentralized, worldwide currency used for transactions only 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 control. Bitcoin and cryptocurrency are secure, yet only as secure as the wallet holding them.
The volume of Hudson County businesses and organizations accepting Bitcoin grows gradually. Amazon, Barnes & Noble, Home Depot, AT&T, Expedia, Subway, PayPal, Overstock and Shopify are also on the list.
Anyone can obtain and use Bitcoin. Given that 25 percent of U.S. and Hudson County 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 unmatched, guared by a worldwide network of complex computers using blockchain technology.
Transactions involving Bitcoin are instantly finalized. There’s no hangups. The virtual cash is managed in an online “crypto wallet,” unreachable to all but those who know its private “key.”
In short, Bitcoin is for those who desire a safe, private alternative to conventional money. If you’re interested in exploring Bitcoin, perhaps start with a small amount. Visit a cheap local Bitcoin ATM near Hudson County 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 market, secured by more than 30 money transmitter licenses. Coinsource is among the most trusted Bitcoin ATM companies worldwide.
You’ll probably have more questions … and that’s rational. But the answer to the recurring one – “Is Bitcoin legal and safe?” – will likely be answered in short order.
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