What is Bitcoin/Crypto Currency things I keep hearing about?
To put it very simply it is a new form of money that works extremely well on the Internet, plus it doesn’t expose you to all the risks of identity theft.
Why do people trust Bitcoin?
Bitcoin and Crypts Currencies provide trust through a trust less system because everything revolves around the software completing the transaction and not “people”.
Is Bitcoin/Crypto Currencies Anonymous?
As a general rule the answer is “NO”. But their general nature they are somewhat Anonymous.
Is Bitcoin/Crypto Currency easy to use?
Yes. It is much easier than other online payment systems. In many cases you simply click a link and confirm that the transaction is correct. On smartphones people tend to use QR codes because it’s easier. These QR codes look like this
What’s a QR code?
It’s like a bar code but a modern version made up of black and white squares. It stores information in a way that is easy for smartphones to read using their cameras.
So Is Bitcoin legal?
Most countries around the world state Bitcoin is legal to use. Click HERE to check your country.
Is Bitcoin useful for illegal activities?
Yes Bitcoin can be use for Illegal activity, however that isn’t the “NORM”
Can Bitcoin be regulated?
In theory it could be but it cannot be shut down. Read more HERE
What happens when bitcoins are lost?
Bitcoins and Crypto Currencies require a lot more financial responsibility on your part
What about Bitcoin and taxes?
While Bitcoin is not a “fiat currency” you should check with your Tax advisor regarding Tax implications of Bitcoin and Crypto Currencies.