Bitcoin is a virtual currency that was born in 2009 It is beyond the control of any government or institution Its value is variable and is based on the law of supply and demand Exchange occurs between users via P2P
What is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can not touch in any of its forms as with coins or bills, but can be used as a means of payment in the same way as these
Is Bitcoin legal?
The legality of Bitcoin is simple to summarize "Bitcoin is legal in that place that accept it as a means of payment in a transaction", as easy and simple. Being out of control of any institution there is a legal vacuum on it.
In addition, when dealing with anonymous and encrypted transactions between two users, they are free of any commission or tax, such as VAT.
This is a valuable cryptocurrency sought by many, since with this cryptocurrency we can invest, operate and mine bitcoins. Currently, bitcoins have a value above $ 7,000. Why is it worth so much? Not being a physical money, transactions in bitcoins are not declared to governments, in other words the money generated by the sale of the currency does not generate profit to the states.
This opens the possibility to a kind of trade in drugs and weapons by bitcoins, a situation that has alerted the main governments of the world and has prompted them to initiate a series of studies in order to toughen the rules of virtual currencies.