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Is Bitcoin legal?

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  • Is Bitcoin legal?

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    β€œIs Bitcoin legal or illegal?” This has been questioned by a lot of investors from different countries who are interested in Bitcoin investment.

    However, different countries described Bitcoin in different ways. Countries such as USA, Canada, Australia are accepting Bitcoin whereas countries such as Russia, Vietnam, etc. do not accept Bitcoin. In order to ensure if Bitcoin is valued in the country, investor should understand the Cryptocurrency regulations of different countries.

    Different countries is have different rules and regulations that limits Bitcoin usage. Even in countries that legalize Bitcoin like Canada, there are still regulations stating that people are not allowed to use their bank card to perform Cryptocurrency transaction.

    Compared to traditional investment, most of the investors are still having doubt regarding Bitcoin investment. The reason for people to have negative confidence towards Bitcoin due to government lack of control and acceptance of the Cryptocurrency. Therefore, it causes uncertainty and fear for people investing in Bitcoin.

    Countries like Thailand had legalized the use of Bitcoin but only at license bitcoin exchange, which people is allowed to exchange Cryptocurrency to their local currency. However, Thailand central bank does not allow its associated financial institution and user to be involved in any business that is related to Cryptocurrency.

    Due to the various restrictions mentioned, it is not a surprise that it formed the misconception that Bitcoin investment is considered as β€œillegal” and risky.

    If you would like to trade Bitcoin regardless where you are, try, where you can trade online with no hassle!