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Major Countries That Accept Bitcoins as Legal Payment

Major Countries That Accept Bitcoins as Legal Payment

Bitcoin is gaining acceptance throughout the globe. Even the nations that were once apprehensive about its sustains in the future are witnessing a growing inclination towards acceptance of this cryptocurrency. What is the time of its introduction? Have there been several changes in the cryptocurrency domain? Bitcoin has continued to rule the market and remains one of the highly valued cryptocurrencies among the 10,000 other cryptos circulating in the market. For more detail bitqt

If you plan to invest in this cryptocurrency, knowing about what is happening in the crypto domain is paramount. If bitcoin is your area of interest, then this blog takes you through some of the important developments that have taken place in the cryptocurrency world with a specific focus on bitcoin and nations who are now inclined towards bitcoin. Let’s get started-

  1. The United States of America– One of the nations that are actively growing in terms of bitcoin ATMs, bitcoin payment acceptance and investment is the United States of America. The country accepts bitcoin as a commodity, and the US commodity futures trading commission has also put bitcoin and other cryptocurrencies as a part of their commodities. However, it is completely regulated, and this has been done to govern and regularize cryptocurrency investments.
  2. Australia-Next nation on our list is Australia which also has introduced a regulatory mechanism to control anti-money-laundering and counterterrorism financial loss to regularize cryptocurrency usage. They have also recognised bitcoin as property.
  3. Canada- Canada is also regularizing the cryptocurrency market. The Canadian revenue agency has issued a statement stating that bitcoin and other digital currencies are taxable commodities rather than currencies.
  4. India-Although India doesn’t consider bitcoin as a legal tender, it has lately introduced laws governing the transactions of cryptocurrency. It has introduced a TDS on cryptocurrency investment and also plans to introduce its digital currency.
  5. EU-The European Central bank doesn’t have a unified conversion on bitcoin, they have stated that bitcoin is an experiment. There is no firm decision on bitcoin as of now. The European Union has also stated that bitcoin transactions require monitoring.

Companies accepting Bitcoin payment- another significant development that we need to discuss is the growing acceptance of bitcoin payment. There was a time that companies were apprehensive of it, but now around 15,000 companies globally are accepting bitcoins as a form of payment. So now you can pay for your bills, hotel bookings, travel bookings and even your pizzas and coffees. Companies like Starbucks and AT&T or now accepting bitcoin payments.

Tips to follow when investing in the crypto world- points to note

Now that you know that cryptocurrencies and bitcoin are here to stay investing in them is the next move that you would want to take. However, if you are new to the crypto market, there are certain tips that you must have a look at before stepping into the pool. Continue reading further till the end to have an overall better understanding!

1. Do your research- You cannot undermine the significance of preliminary research of the crypto market before investing. This may begin with understanding the terminology of crypto currency transactions, the functioning of the trading world and the different cryptocurrency exchanges. Make a decision only when you are completely confident about your investments.

2. Be prepared to lose money– What are the biggest drawback of crypto investment is the volatility of the crypto market. Since this market is highly fluctuating, you must be ready to embrace the risk of loss.

3. Diversify your investments-Try to add as much cryptocurrency to your portfolio as possible. However, this certainly doesn’t signify that you need to invest all your money in different cryptocurrencies and any cryptocurrency that you come across. The decision should be backed by complete research and an understanding of what cryptocurrency means in the present market and what it holds for the future.

Conclusion

This was the basic information on the latest trend in the bitcoin market and how you can invest in the cryptocurrency domain at http://altcoinsidekick.com/. Although cryptocurrency investments are lucrative and give profitable outcomes, your expectations should be realistic and well-calculated.

What do you think?

Written by Joshua White

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