Bitcoin
Bitcoin Meaning:
Bitcoin is the crypto currency that has the ability to eliminate paper money in future from daily use.Satoshi Nakamoto in year 2008 developed it for the purpose of making payments with electronic systems.
It is currently a hot topic around the globe due to its value in the current market and is hitting the market with its increased user who are taking bitcoin seriously in terms of business channel.
Importance
-It is fast , easy and reliable means of payment.
-It helps to maintain record without the fear against the breach in Data Privacy.
-'N' number of bitcoin wallet can be created as per the wish.
-Financial Privacy can be maintained because its not mandatory for the people to show their identities during business transactions.
-Bitcoins are scarce and easily interchangeable therefore no any impact on inflation which occurs when total amount of cash increases in the system.
Disadvantages
-Bitcoin facilitates money laundering activities i.e. providing channel to illegal money transfer through legitimate way.
-It is not regulated by banks or goverments therefore Black money can be made white easily with the investment in this crypto currency.
-This currency will not benefit in any way to the country as it is not the legalize channel , tax fradusters may become active as authorities donot have any statistics related to this currency.
Transacting Organization:
-KFC Canada
-Overstock.com
-Subway
-Microsoft
-Reddit
-Virgin galactic
-Badoo
-Green Man Gaming
-Save the children
-Webjet
-Stripe
-Rakutan
-T mobile Poland and many more
How we can buy or sell Bitcoin?
We can buy or sell bitcoin through the use of Coinbase which is a digital currency exexchange headquatered in Sanfrancisco California.They are the broker exchanger of Bitcoin, Bitcoin cash with flat currency in around 32 countries with storage in 190 countries. Similarly
Zepbay - India
Paxful - Kenya, Japan
Coinbase- USA
Localbitcoins.com- China
Xapo, Coinbase, Blockchain.info- United kingdom
Is Bitcoin Legal?
It may be considered as money but not legal as per the country policy.Many developed countries in the world has legalized Bitcoin but some of them has considered illegal with differing regulatory implications.
Legalizing Countries:
-United States of America
-India
-Japan
-Canada
-Mexico
-Jamaica
-Argentina
-China
-Hongkong
-Malaysia
-Singapore
-Thailand
-Philipines
and many more
Countries not accepting Bitcoin
-Algeria
-Bolivia
-Ecuador
-Bangladesh
-Nepal
As world in moving with the pace and adoption of technologies day by day. Cryptocurrencies can also be an alternative for the money .This will reduces the country's cost of making money which includes cost of raw material for making money.
With the proper regulatory implications and legal ideas a country can bring great impact on the economy with the use of bitcoin.As we all know richest country in the world are adopting it and many big organizations as well.
Bitcoin is the crypto currency that has the ability to eliminate paper money in future from daily use.Satoshi Nakamoto in year 2008 developed it for the purpose of making payments with electronic systems.
It is currently a hot topic around the globe due to its value in the current market and is hitting the market with its increased user who are taking bitcoin seriously in terms of business channel.
Importance
-It is fast , easy and reliable means of payment.
-It helps to maintain record without the fear against the breach in Data Privacy.
-'N' number of bitcoin wallet can be created as per the wish.
-Financial Privacy can be maintained because its not mandatory for the people to show their identities during business transactions.
-Bitcoins are scarce and easily interchangeable therefore no any impact on inflation which occurs when total amount of cash increases in the system.
Disadvantages
-Bitcoin facilitates money laundering activities i.e. providing channel to illegal money transfer through legitimate way.
-It is not regulated by banks or goverments therefore Black money can be made white easily with the investment in this crypto currency.
-This currency will not benefit in any way to the country as it is not the legalize channel , tax fradusters may become active as authorities donot have any statistics related to this currency.
Transacting Organization:
-KFC Canada
-Overstock.com
-Subway
-Microsoft
-Virgin galactic
-Badoo
-Green Man Gaming
-Save the children
-Webjet
-Stripe
-Rakutan
-T mobile Poland and many more
How we can buy or sell Bitcoin?
We can buy or sell bitcoin through the use of Coinbase which is a digital currency exexchange headquatered in Sanfrancisco California.They are the broker exchanger of Bitcoin, Bitcoin cash with flat currency in around 32 countries with storage in 190 countries. Similarly
Zepbay - India
Paxful - Kenya, Japan
Coinbase- USA
Localbitcoins.com- China
Xapo, Coinbase, Blockchain.info- United kingdom
Is Bitcoin Legal?
It may be considered as money but not legal as per the country policy.Many developed countries in the world has legalized Bitcoin but some of them has considered illegal with differing regulatory implications.
Legalizing Countries:
-United States of America
-India
-Japan
-Canada
-Mexico
-Jamaica
-Argentina
-China
-Hongkong
-Malaysia
-Singapore
-Thailand
-Philipines
and many more
Countries not accepting Bitcoin
-Algeria
-Bolivia
-Ecuador
-Bangladesh
-Nepal
As world in moving with the pace and adoption of technologies day by day. Cryptocurrencies can also be an alternative for the money .This will reduces the country's cost of making money which includes cost of raw material for making money.
With the proper regulatory implications and legal ideas a country can bring great impact on the economy with the use of bitcoin.As we all know richest country in the world are adopting it and many big organizations as well.
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