Is Cryptocurrency illegal?

[Shannn11]

I think not, cryptocurrency have been around for quiet some time now and many countries are already using cryptocurrency as a mode of payment for different transactions. I think maybe other countries are still not considering cryptocurrencies as a real currency because government like to control everything but they can't with cryptocurrency.

 

[Shivay]

I think not, cryptocurrency have been around for quiet some time now and many countries are already using cryptocurrency as a mode of payment for different transactions. I think maybe other countries are still not considering cryptocurrencies as a real currency because government like to control everything but they can't with cryptocurrency.

You are right , I am from India and my government Mr. Narendra Modi said that ; he will soon bring cryptocurrencies in banks for various modes of method then i surely think that other countries will also look forward to that and also Joe Biden also mentioned about Bitcoin recently. Hope government accepts it soon.

 

[BrolySSJ]

You made a good point here.
The dollar will not behave like a digital currency or cryptocurrency.
This coin called cryptocurrency is very mysterious.
Dollar won't like any currency exchange to take the place of dollar in the international market.

If the dollar had to be introduced in terms of a digital form it would have to be stable and have a set value that does not change to ensure that is consistent in this value, otherwise it will undergo severe volatility if it is introduced as a cryptocurrency. Therefore, I think that perhaps it will be introduced, if a digital version is introduced, as a trading pair like it is on the yobit exchange. In this way it can; be traded, but it is a pair that is used as a basis for direct purchases of other coins.

 

[GIFTMICHAEL]

If this

If the dollar had to be introduced in terms of a digital form it would have to be stable and have a set value that does not change to ensure that is consistent in this value, otherwise it will undergo severe volatility if it is introduced as a cryptocurrency. Therefore, I think that perhaps it will be introduced, if a digital version is introduced, as a trading pair like it is on the yobit exchange. In this way it can; be traded, but it is a pair that is used as a basis for direct purchases of other coi

It will be difficult to introduce a digital dollar currency as a trading pair. If that should happen what will decide the rise and fall of digital dollar currency will be demand and supply.
Now looking at this development you will come to understand that even Bitcoin, etherium and other coins will be profitable ahead of dollar. Dollar will definitely lose value both online and offline.lol

 

[Dowenship]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

I believe they are still limited in knowledge of their understanding. The first time you and I heard of crypto currency, we felt skeptical about it if its real or not but daily as we build our knowledge on it we understand it better. If they give room to understand it then it won't be illegal as u term it

Post automatically merged: Jan 25, 2021

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

I believe they are still limited in knowledge of their understanding. The first time you and I heard of crypto currency, we felt skeptical about it if its real or not but daily as we build our knowledge on it we understand it better. If they give room to understand it then it won't be illegal as u term it

 

[tuna89]

Cryptocurrency has its advantages and disadvantages and can be used either legally or illegally, on the illegal side it is used by fraudsters to make abnormal transactions all because cryptocurrency transactions cannot be traced easily by the Central Banks or by some of the security exchanges while it can be used legally if the rules of the cryptocurrency are well followed.

Post automatically merged: Jan 25, 2021

Cryptocurrency has its advantages and disadvantages and can be used either legally or illegally, on the illegal side it is used by fraudsters to make abnormal transactions all because cryptocurrency transactions cannot be traced easily by the Central Banks or by some of the security exchanges while it can be used legally if the rules of the cryptocurrency are well followed.

 

[Mujahid12]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

Of course I agree with you. Cryptocurrency is going up day by day and its future is very bright but not permission to use cryptocurrency in our country and unfortunately we are unable to use in our country for shopping.

 

[Abibatabosede]

Crypto currency are not illegal government offices are against it because they don't have control over the crypto trading. Also,in most countries there are lots of bitcoin ATM used in most of their transaction. I think it is very legit.

 

[LaylaG]

your question can be answered in two different ways because acryptocurrency is a digital currency that is legal in some countries of the world and at the same time it is a currency that is not accepted in some countries of the world so it depends on the country you are talking about.

 

[Nurudeen]

Crypto currency is a Digital currency that comes from blockchain system. No government officials of the world can claim crypto currency exchange Business is illegal. Why most of them do shy away from it is that it can be used to launder money with a traceable effect to them. Even the government knows that crypto currency exchange Business is legit

 

[Naz Noshin]

Of course I agree with you. Cryptocurrency is going up day by day and its future is very bright but not permission to use cryptocurrency in our country and unfortunately we are unable to use in our country for shopping.

It doesn't matter if cryptocurrencies are not acceptable in your country but you can make online wallet and can buy and hold for profit ,if you have payeer or other similar wallets by using which you can buy cryptocurrencies from those sites which accept payeer and other methods.
Second thing, cryptocurrencies are not used for shopping .

 

[Kinglegend01]

I dont think cryptocurrency is illegal in any country of the world present infact i think Cryptocurrency is very much legal. It has been used as a payment method in many different countries. It has even its own ATM machine, exclusive for bitcoin..I think there are some people out there who are still afraid to invest in cryptocurrencies.

 

[Heatman]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

If cryptocurrency is illegal, then since 2008 when the first blockchain technology was launched in the place of bitcoin and still been used till date, it would have be banned for any kind of business transaction. But no, it's gained more popularity and used globally. So, there is no way any cryptocurrency is illegal.

 

[Robrown83]

Crypto currency is not illegal in some countries that is been accepted to be spending as their currency and supported by the law of such countries but it is illegal in some countries where it is not supported by their law to be spending which there are maybe reasons for against its spending.

 

[Sake]

There's no status that grants it legal or illegal in my country but I believe it's bad to make it illegal. The nature of cryptos which has made it a successful tool in the hands of hackers and scammers may have given it a bad name but it's advantages are numerous. It should be harmonised by different countries to boost their economy.

Exactly, there's a lot of benefits and help it can provide to people's financial status and even help countries in their transactions. I hope that it gets legalized to the countries that's still skeptical and closeminded about Cryptocurrencies.

 

[Kamon c4]

I believe some government banned bitcoin out of fear for their country’s economy. The constant usage of cryptocurrency May result to loss of value for a country’s currency. Cryptocurrency exchange can’t be easily monitored like the fiat currency. The only preferable solution is to ban it

 

[BrolySSJ]

If this

It will be difficult to introduce a digital dollar currency as a trading pair. If that should happen what will decide the rise and fall of digital dollar currency will be demand and supply.
Now looking at this development you will come to understand that even Bitcoin, etherium and other coins will be profitable ahead of dollar. Dollar will definitely lose value both online and offline.lol

The one exchange that I use is the yobit exchange. On this exchange platform there is various different pairs that you can trade within and some of the most common ones are bitcoin, USDT, WAVES, ETH and USD. This is actually a dollar coin that you can use to trade and you are getting whatever you have in terms of Dollars which is a very good thing if you're looking to save your funds and to ensure that your funds do not fluctuate with time.

 

[Alexandoy]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

What are the countries that accept crypto currency as payment method? It makes me wonder why I have been seeing such posts that crypto currency is accepted but I cannot find a country that accepts Bitcoin as payment in the store or even in depositing to a bank account. Crypto currency is not money. It is just a commodity for now that is being traded digitally. It is like an invention that many are buying and many are selling so it is getting popular and prevalent. Although crypto currency is not illegal but it is not a legit currency.

 

[Ebuka Stephen]

This is a very weird question to me, cryptocurrency isnt illegal it is very much legit and can be trusted , the reason why most countries do not accept it is due to they dont have control over the currencies . cryptos are very much legit , it has proven that it is .

 

[Ifeayomi]

yes crypto is legit and it has proven itself over the time that he is a legal business or investment. Talking about crypto it is one of this kind among other is like comparing golden fish to all other fishes in the river they are not them. Crypto is very very legit in fact 100% legal globally .