Bitcoin has succeeded in impacting the monetary world by proposing a new way of concluding transactions. Users can enjoy tons of profits by trading Bitcoin and, for the first time, the scale is user-oriented and protected, rather than banks and authorities.
Even with its many advantages, many countries around the world this cryptocurrency is illegal and investors face various sanctions if they get stuck trading with it. We seek to take a closer look at its legal prestige and call all regions of the world where trading Bitcoin is legal. We will also detail some of the reasons why some governments are illegal. Let’s start by looking at the topic.
Bitcoin trading
First, when it comes to this cryptocurrency, you want to look for credible and reliable platforms where you can trade Bitcoins without worrying about your online security. As you know, many other people are scamged every day, so you want to take every precaution to make sure this doesn’t happen to you.
There are tons of credible sites that you can use seamlessly with Bitcoin; all you have to do is do small searches and locate which sites are reliable and which are not. If you need to save time for this process, you can check out Bitcoin Storm. You can find all the latest data on cryptocurrencies here. In addition, the site uses complex commercial technologies and has an incredibly higher profitability. The commercial environment is and everyone is welcome; all you have to do is log in to your website.
Now that you know one of the most reputable Bitcoin trading sites, which is also granted, let’s see where in the global this cryptocurrency is legal.
Bitcoin countries is legal
You may be surprised, but Bitcoin is legal in more countries around the world than you think. Given the fact that the cryptocurrency is just over ten years old, we will have to welcome its appearance. Let’s start with the Americas. Bitcoin is legal, in the United States, Mexico, Nicaragua, Costa Rica, Jamaica, Trinidad and Tobago, Argentina, Brazil, Chile and Venezuela. Bitcoin is also legal in Colombia but is banned through banks.
When moving to Asia, Bitcoin is legal in Kyrgyzstan, Uzbekistan, Cyprus, Russia (legal for mine, but banned through banks), Israel, Lebanon, Turkey, India, Hong Kong, Japan, South Korea, Malaysia, Singapore, Thailand, Brunei and the Philippines. On the other hand, Cambodia, Taiwan, the People’s Republic of China, Jordan and Saudi Arabia treat it in the same way as Russia: legal but banned through banks.
Finally, Bitcoin is legal in Europe and Oceania, some European countries do not have an express law for cryptocurrencies, so other people are not punished if they trade with them.
Why is Bitcoin so opposed to governments?
As you may have noticed, Bitcoin is legal in most of the world, but even though it has been accepted and legalized, there are still many countries that illegal and this payment method is a forgery. There are two main reasons why this is the case.
The first is that Bitcoin is not regulated through any authority, it is autonomous, as governments cannot, they are afraid that they will get out of hand and as you may know, everyone is afraid of things they can’t.
The explanation of the moment why it is so opposed through governments is something similar to the first. Banks may qualify many hidden and/or additional fees when other people transact. By doing so, they make massive profits. Cryptocurrencies decrease banks (intermediaries) and ignore all those rates. Bitcoin does not allow banks to benefit from other people’s transactions, so when they trade Bitcoin, other people save a lot of cash in the process.
Banks are very strong and more than capable of influencing politics. Since Bitcoin is a direct risk to your profits, they may make a lobby to keep the cryptocurrency illegal. And as you can see, they still have decision-making force in some countries, so cryptocurrency is illegal.
What do other people think?
As for what other people think, you can be sure that they are more than open to trading Bitcoin. Because the cryptocurrency protects them and gives them many benefits when transacting. In addition to escaping additional and hidden charges, other people also get benefits from an anonymity deadline when trading Bitcoin, all transactions are instantaneous and the currency is fully optimized for Online Use Many who will one day all use Bitcoin and that cryptocurrency will become the universal means of payment in all regions of the world.