Accepted crypto for trading - page 3.

Lida93

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

There are a few governments that have legalized the use of crypto currency in their country and the most popular of them all as it stands is El Salvador and this acceptance is driven with the expectation that bitcoin could help improve their economy and sustain it to cover certain debts. And there's a prospect that in the next ten years to come more countries would be able to accept the use of bitcoin along side their local currency alternatively,

Many countries that are currently not giving room to bitcoin to operate is as a result of the decentralization of the coin, every government wants a currency they can regulate and be in charge over it's usage and for that they fear risking that economic power.

Litzki1990

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As far as I know El Salvador is an officially crypto accepting country. Countries that have declared Bitcoin as an alternative currency alongside their own currency. Bitcoin has been linked to education, business and other government sectors. And recently I got to know some more information about that country that the country is facilitating bitcoin transactions as an alternative means of payment in various filling stations and coffee houses of that country. Such decision of El Salvador is really very positive. And the president of that country is highly praised by the people because of his decision.

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?

You may not know which countries around the world use crypto currencies. But you can see details about EL Salvador. Where cryptocurrency has been officially adopted and various products and transactions have been launched by crypto currency.
https://bitcointalksearch.org/topic/el-salvador-has-become-the-first-country-to-make-bitcoin-legal-tender-5342087

Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Moreover, do you think that which country could be the first?

But as far as I know, the first Bitcoin was officially recognized by the government of El Salvador. But many countries around the world have already started Bitcoin trading and they do full transactions with Bitcoin just for the convenience of using Bitcoin.

Jeger.Kiting

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Many countries are concerned about cryptocurrency price volatility. In addition, many regulators in various countries do not believe in the decentralized cryptocurrency system and are considered a threat to the current monetary system. On the other hand, countries that prohibit cryptocurrencies also usually use the argument that crypto assets are used for illegal acts such as buying and selling drugs and money laundering. Some countries clearly prohibit cryptocurrencies, while others have implemented policies that prevent crypto assets from getting support from the banking and financial systems to be traded and used in those countries.

Here's one of the countries that ban cryptocurrencies:

China: Chinese regulators blatantly prohibit the trading of cryptocurrencies, one of which is bitcoin. Any banks and other financial institutions such as payment service providers are prohibited from engaging in any activity related to cryptocurrencies. In addition, cryptocurrency trading is also prohibited in China. The Chinese government has also in the past year been busy implementing a ban on bitcoin mining activities in its country.

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

- It seems you are wrong in thinking friend because as far as I know there are countries that freely accept Cryptocurrency in their territory. Just like the country I belong to, there are many companies related to cryptocurrency that can operate here legally. Such as Coins.ph, Bitpinas, and other wallet apps that can be downloaded on mobile devices such as Maya, the gcash coming soon, and others that are currently completing the requirements that must be submitted to the BSP (Banko Sentral ng Pilipinas).

Europe, Japan, and Singapore are just some of the countries I know that are open to cryptocurrency and some merchants enjoy Bitcoin or other cryptocurrencies as a mode of payment in their businesses as well.

Bitstar_coin

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Quote from: |MINER| on September 13, 2022, 03:24:42 AM

Did you searched on Google before posting this topic ? I think you have opened this topic without knowing anything. If you kindly search on Google, you will see that many countries have already legalized it and also trading through it in inside their country. On the other hand, you should know that some countries have already started to accept it as legal tender, and it is expected that this level will increase very soon.

I think you are mistaken one thing for another. Countries that have fully legalized bitcoin according to Google search are just 2 (i.e El Salvador and Central Africa).
It doesn't take the fact that sone other countries don't accept the use of it, even though they have not legalized it, some certain businesses do accept it without any issues.
It is better to understand the difference.

fullhdpixel

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Quote from: |MINER| on September 13, 2022, 03:24:42 AM

Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Did you searched on Google before posting this topic ? I think you have opened this topic without knowing anything. If you kindly search on Google, you will see that many countries have already legalized it and also trading through it in inside their country. On the other hand, you should know that some countries have already started to accept it as legal tender, and it is expected that this level will increase very soon.

Obviously, because he is a newbie but that is not an excuse of course. Google is free and I think even kids now know how to use that wonderful piece of tool for researching things. He can also make a search inside the forum. As long as it's related to crypto, I am sure that he can always found what he is looking for since this crypto forum is huge enough and it started long time ago.

Indeed that lots of countries already legalize btc for trading or as an asset use while for purchasing or as a currency I think there is only two or three of them so far. The two of them were namely El Salvador and the second one is central African republic.

|MINER|

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Did you searched on Google before posting this topic ? I think you have opened this topic without knowing anything. If you kindly search on Google, you will see that many countries have already legalized it and also trading through it in inside their country. On the other hand, you should know that some countries have already started to accept it as legal tender, and it is expected that this level will increase very soon.

hugeblack

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The technology is still in its early days, and adoption by countries does not take long if it happens in one of the countries. As soon as these countries find it easy to conduct transactions in Bitcoin and there is sufficient political and economic motivation, they will find rapid adoption.

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Many countries even African countries have adopted the use of cryptocurrency notably central African Republic and Nigeria, although there are limitations/regulations. Some are imposed with high taxes such as India and some European Countries. Gradually there will be more adoption

Kemarit

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Wrong, every part of the continent now is accepting crypto, maybe not the direct p2p as how it is envisioned by the creator Satoshi, but still there are third party services everywhere that you can convert your crypto and then you can purchase online or even offline stores.

In Europe LN has been tested for the last couple of years, specially if you are just going to buy coffee and things that the amount can be accommodated by LN (Lightning Network).

TravelMug

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

As others have mentioned already, there are countries that already accepted crypto as legal tender like El Salvador.

And then there are nations that have regulated it like countries in Asia and Europe that you can used crypto to buy and trade because they have their own local exchange.

I suggest you look for El Salvador crypto adoption and making bitcoin a legal tender, that should be good read for you and maybe you will understand more what others are saying.

JeromeTash

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

As some members have already mentioned, El Salvador is one of the Countries where Bitcoin is a legal tender. I think Some African country also tried to follow the trend (Central African Republic) if I recall well

Most governments obviously don't want their citizens to adopt cryptocurrencies because they (the governments) will have no control over the crypto (In terms of printing more coins which Governments love doing in order to fuck up the economies)

jossiel

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There are many of them OP. You just need to put time in searching for what are those countries like going to wikipedia as the start.

https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

Quote from: Jiovanni on September 07, 2022, 02:52:28 AM

Countries are scared to adopt bitcoin as a legal tender in their nations because, they fear it would degrade their fiat currency.

It's okay if they don't want to adopt bitcoin as a legal tender, there's no pressure from high entities that they should do what El Salvador has done.

Accepting crypto as payment and not banning it is already more than enough.

Jiovanni

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Countries are scared to adopt bitcoin as a legal tender in their nations because, they fear it would degrade their fiat currency.

Nonetheless, I've got my eyes on El-savador that has adopted bitcoin as a legal tender, let's see if their national fiat would depreciate. If it doesn't, then you'll see that other nations would take this toll, and that would be a win for the bitcoin lovers/family.

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Note that banning and unregulated are different things. You should review the applicable laws in the country you want to know about. My country allows certain cryptocurrencies as commodity assets and prohibits them as means of payment. So far only 2 countries have made bitcoin a legal tender(Elsalvador and Central Africa), the rest are prohibited and unregulated. But the majority of countries in the world allow cryptocurrencies to be traded on exchanges.

sheenshane

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Quote from: Eden Loomis on September 06, 2022, 02:45:15 AM

Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?

One reason could be they're afraid of accepting/adopting because they think that it could be a harm to their government banking system. But in fact, it is not. Because each government has its own perspective view on Bitcoin, those government officials who are open-minded and willing to adopt crypto, better regulate it than if they don't have benefits from it because people can still use crypto even though it's banned in their country.

Quote

Moreover, do you think that which country could be the first?

It's given above, country of El Salvador was the first country that legalized Bitcoin.
But this depends on your country, like my country it's not fully legally accepted but partially regulated.

examplens

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Not sure what is your question here but In my country(Serbia), crypto is partially regulated, you can do whatever you want legally.
the only thing you have to pay is a tax on the profit made in crypto trading.
officially, the government does not accept crypto as a means of payment, (thank goodness for that) but the same thing is with other fiat currencies it is also necessary to do currency conversion from USD to national currency

Maus0728

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What specific country are you in? There are numerous stores that accept bitcoin in exchange for products and services globally just like this one^[1]. If what you mean bitcoin being a legal tender, then we have El Salvador for that.^[2]

[1] https://bitcointalksearch.org/topic/--5367983
[2] https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200

Eden Loomis

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Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?

Topic: Accepted crypto for trading - page 3. (Read 881 times)