Without a doubt, cryptocurrencies, including Bitcoin BTC, are the future that will come sooner or later. After years, decades or centuries, it will finally become clear to everyone that it is a cryptocurrencies that provides the best value for money. And while miners and traders are still worried about the legality of bitcoin, the time will come when it will become the most common currency.
Cryptocurrencies have many useful properties that ordinary money sometimes lacks. The new money is provided with the energy needed to create the necessary mathematical processes. The increase in processor speed and efficiency creates inflation, which is offset by the growth in demand for this energy.
However, decentralized and uncontrolled trade on a global scale can upset many powerful and well-armed people. Until now, any government has ensured its superiority by force of arms. This is why some states will try to prohibit or otherwise discourage such a currency.
Fortunately, the same global network that made cryptocurrency a reality can make crypto trading safe and anonymous. Using a reliable and professional VPN allows you to quickly and easily complete all transactions. Premium VPN providers like Le VPN have servers in over 120 countries and will mask your IP address from prying eyes in any government.
Benefits of cryptocurrencies
Most futurists agree that the actual benefits of cryptocurrencies have yet to emerge. However, there are already several real benefits of using digital currency.
First of all, the way cryptocurrencies is produced and distributed is decentralized and not regulated by any government. No authorities can revoke or freeze your funds, especially if they do not know that the money belongs to you.
The second advantage is the constant balance between the amount of cryptocurrencies produced by miners and the demand for it. Here, no one can print extra money, as is often done with paper currency.
Finally, transactions are entirely secure. Unlike paper money, which can be counterfeited, counterfeit cryptocurrencies will become useless the moment they connect to the Internet, since they will not converge on hashes. This makes it impossible to trade fake cryptocurrencies.
Risks of using cryptocurrencies
Of the two main risks of using cryptocurrencies, one relates to personal information and the other to economic aspects.
Personal risk is associated with anonymity and lack of responsibility. If your wallet key is stolen, all of your funds can be stolen and sent anywhere. It’s like stealing cash: if you don’t know who exactly stole it, it’s no longer possible to find the cash, all traces will be lost.
Economic risk is the impracticality of using the current cryptocurrency as derivative financial instruments.
Why are some governments against cryptocurrencies?
In different countries and cultures, governments perceive the use of bitcoin by citizens differently. But all of them in this regard are usually concerned about issues of economy, security and control.
Before the Internet, people were forced to obey with the help of uniformed guys. But if your address were somewhere in the Amazon jungle, it would be difficult for the IRS to get you to pay anything.
The fact that you can pay for goods and services around the world using an anonymous account without leaving any traces means that the government cannot track your purchases. Keep reading here if you want to know more about blockchain technology
Where to trade Bitcoin?
You are wondering if Bitcoin is legal in your case. Inquire about the laws of the country in which you live. Most countries consider owning and storing bitcoins perfectly legal, but that doesn’t mean you can relax.
In other countries, this form of payment itself may be considered acceptable, but all transactions using cryptocurrency are subject to high taxes.
How you use cryptocurrency depends a lot on your ultimate goal. If you need to conduct a few simple transactions, or you are going to mine cryptocurrency on your devices, this can be done from almost any country. But if you intend to trade bitcoins or exchange them and other cryptocurrencies for regular money, some difficulties await you.
Luckily, using an online VPN, you can switch between multiple servers and countries. Thus, you can create your crypto-financial tax evasion scheme like a Dutch sandwich so that no government can track your actions.