Bitcoin made its first appearance in 2009 and immediately begun a new disruptive revolution with an era of cryptocurrency. Today, there are more than 700 different digital currencies, but bitcoin still remains the leader in the industry. While tax authorities, enforcement agencies, and regulators in different countries are still trying to cope with this recent phenomenon, one question arises — is bitcoin legal? In this article we will try to answer this question.
Bitcoin is an emerging digital currency. Recently bitcoin was in its infancy, and now it seems that it is becoming a more mature currency. The popularity of this virtual currency is constantly growing and every day we see more and more people joining this innovative industry. Bitcoin will certainly shake and destroy traditional economic and financial foundations and turn them into a more equal and democratic model.
The Bitcoin ecosystem is also increasing its agility, and more and more business segments are accepting this new currency every day. Evangelists of the movement are trying hard to introduce Bitcoin into everyday life – to turn it into a currency, not an asset or a financial instrument, and make the most of its unique functionality.
There are many advantages of using bitcoin over traditional currency. Here is a brief information about advantages of using bitcoin for transactions for goods and services.
People can use Bitcoin to make payments to other people or businesses. It is easy to use and very secure, with low transaction fees, and you can spend it directly from your computer, tablet or smartphone – ideal for online business transactions such as online casinos or investment funds.
Money is what money does. It’s a repository of value, a means of exchange, a form of power, energy consolidation… you can add those definitions. For a comprehensive understanding, post-reflection of this article, there is a page of the investment project that deepens this discussion into the history to date. It is important to note that money has developed throughout history, along the path of development and regression of human civilization. Crypto-currency is a revolutionary innovation that redefines how money works. More importantly, it is rethinking how the world works with money. It is an area of interest for further impartial (cognitive, technocratic and bureaucratic) research by politicians, economists and governments around the world.