The crypto market has evolved but there is still a dilemma regarding whether an individual should put cryptocurrencies in the category of something unattainable and useless to put resources into or categorize it as a feasible investment option.
gorize it as a feasible investment option.
Advantages of Cryptocurrency
1. No Restrictions on Payment
2. Maintenance of Anonymity
3. Use of Complex Algorithm
4. Speed of Exchange
5.No Third-Party Involvement
6. Free/ Very Less Transaction Fee
7. No Inflation
Disadvantages of Cryptocurrency
1. Lack of Awareness/Knowledge
2. Use of Complex Technique
3. Highly Volatile in Nature
4. Not Accepted Everywhere
5. Victim of Theft and Scam
6. No Reverse of Payment or Recovery
7. Black Market
8. Scaling Issue
9. May not be Exchanged with Fiat Currency
Visit https://honestproscons.com/advantages-and-disadvantages-of-cryptocurrency/ for more information
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Countries That Say Yes to Bitcoin
Bitcoin can be used anonymously to conduct transactions between any account holders, anywhere and anytime across the globe, which makes it attractive to criminals and terror organizations. They may use Bitcoin to buy or sell illegal goods like drugs or weapons. Most countries have not clearly determined the legality of Bitcoin, preferring instead to take a wait-and-see approach. Some countries have indirectly assented to the legal use of Bitcoin by enacting some regulatory oversight. However, Bitcoin is never legally acceptable as a substitute for a country's legal tender.
1. The United States
2. Canada
3. Australia
4. The European Union
5. Finland
6. Belgium
7. Cyprus
8. United Kingdom (U.K.)
9. Bulgaria
10. Germany
Countries That Say No to Bitcoin
While Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current monetary systems, and links to illicit activities like drug trafficking and money laundering. Some nations have outright banned the digital currency, while others have tried to cut off any support from the banking and financial system essential for its trading and use.
1. China
2. Russia
3. Vietnam
4. Blivia
5. Columbia
6. Ecuador
Visit the link below for more Information.
https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp
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