Bitcoin: Free of Traps

     In the world of cryptocurrencies just like in other markets, there are always those who want to go from ready trying to break the schemes to deceive people. Recently in India, they arrested a group of created a page of a digital currency, OneCoin that tricked many people into believing that they would become millionaires by investing their money in their platform. This caused a bad influence on people who were interested in investing in digital coins.

     However, Bitcoin and its CEOs have stated that Bitcoin is a 100% safe currency, free from fraud or illegal acts. The owner of the cryptocurrency denounced this company for making people believe that they could become rich from one day to another but in spite of this act Bitcoin users in India and the world have not stopped growing.

     The implementation of Blockchain provides the security that investors do not lose their money. In addition, the Best Bitcoin Rate in India attracts thousands of people to invest in digital currency. Citizens Sell Bitcoin, thousands of them use the Bitxoxo platform to carry out their operations quickly and safely.

     Bitcoin Exchanges in India grow in large numbers every day, allowing users and others to know more about their safe and innovative system. The Best Bitcoin Rate in India requires a minimum interest rate through the different companies linked to Bitcoin such as Bitxoxo, Unocoin, Coinsecure, etc.

     The transactions made with Bitcoin in its different portals are protected with Blockchain. Any person or security entity can follow the activity that the user has performed and identify where it is going or where it comes from.

     In India, despite poverty and slow development, people have decided to invest in cryptocurrency to secure their assets and assets in a way that they can make Bitcoin Exchanges to any part of the world from a computer or phone with internet access.

     For the tranquility of the users of Bitcoin has not been registered another fact of fraud like this one in no country of the world nor is not expected to happen. However, the authorities directly linked to cryptocurrency will always be improving their system to increase their reliability in people.

Indian Bitcoin Stage

     The Bitcoin community in India that was only a small group, increased greatly in just a few days. The government decided to revalue some notes and this caused many citizens to adopt cryptocurrency as a means to manage and invest their money. Best Bitcoin Rate in India has allowed people to perform various transactions in short periods of time. Users Sell Bitcoin in India as sell hot cakes.

     Bitxoxo, recognized by thousands of people in India, is the best platform to perform operations with Bitcoin. Bitxoxo operates with 0% commission on its transactions and these are done in minutes, while other companies such as Unocoin or Coinsecure charge a small percentage for transactions.

     Bitcoin Exchange in India is carried out very frequently, even from India to other countries. People who Buy Bitcoin in India have taken advantage of to invest their savings in cryptocurrency and thus depend on the use of banks.

     Bitxoxo is on the Top Bitcoin Exchange in India. The company is reaching around 5000 users only in this country being preferred by citizens. With it, they become Best Bitcoin Exchange in India. The digital currency has been reaching exorbitant values in the past weeks as the most valuable cryptocurrency in the world.

     Thousands of companies and people have invested in Bitcoin ensuring and betting for a better future for their lives and businesses. India's economy has managed to maintain itself at an adequate level thanks to the implementation of the digital currency. Although the government is still investigating whether it is worth legalizing, its growth and popularity in the nation have not stopped.

     As for the other digital currencies, they have been struggling to reach Bitcoin but their efforts have been futile. There is no other digital currency that has reached such high values and in as little time as Bitcoin has done. The cryptocurrency has overcome the schemes and barriers that have been presented to it. Analysts are surprised at how quickly this currency has emerged. From 2009 to the present year, its path has always been on the rise and it is estimated that for future years it will continue to rise and become the first legalized digital currency in the world.

Bitcoin caused a stir in 2016 in Spain

The past year 2016 was one in which Spain gave much to talk about blockchain technology. For example, on 23 September it was announced that natural or legal persons who are engaged in mining bitcoins and other criptocoins will pay taxes because mining will be considered as an economic activity.

In this sense, it is worth noting a little beneficial news for the Bitcoin community, since the Spanish authorities dismantled 6 mining centers in different cities in Spain. Although it may be said that the money invested in these mining equipment originated from other illegal activities, the news was presented by some media in an incorrect way that damaged Bitcoin's reputation in the country.

The 26 of September of the year it was known that Spain became European leader excellence in investments in technology blockchain refers, thanks to answers that gave the Tax Agency of the country to questions on the fiscal treatment of the activities that have to see with cryptocurrencies and blockchain technology.

On the other hand, the recent measure taken by the Spanish government to limit payments made in cash to a thousand euros has led to the adoption of Bitcoin in Spanish territory, which has evidently achieved an increase in the demand for criyptocurrency, which at the same time  increases the value of Bitcoin in the country.

This event has encouraged the Spanish population to become more and more familiar with the Bitcoin ATMs in the country. This year saw an increase in Bitcoin ATMs in Spain by companies such as ATMs Bitcoin, BTCfacil, and BTCPoint, which has led Spain to become the fourth country with the largest number of Bitcoin ATMs in the world, with An approximate of more than 30 cashiers, which undoubtedly has boosted the adoption of Bitcoin in Spanish territory in full

Another reason that has led the Spanish people to take into account that the value of this already broke the value of the ounce of gold which was the favorite asset to safeguard the value of money and to avoid devaluation

 

Bitcoins is taken as merchandise in the United States of America.

For the first time in 2009 and currently used in a wide variety of online trading (especially in the deep web), Bitcoin is gaining a lot of popularity and strides in North America; this is one of the reasons why the United States has decided to regulate it. However, it has not done so as a regular currency, but as a commodity. That is, this known cryptocoin is now and officially "a commodity with which to trade," a "raw material" at the same level as wheat, gold, coffee and oil, for example.

The Commodity Futures Trading Commission or CFTC, the US regulator of this sector, has decided to consider this virtual money that currently amounts to about 2000 US dollars as a commodity or commodity for the country's regular economy.

Its decision is the result of a national dispute with various companies responsible for the exchange of bitcoins, which offer its users the possibility of buying, selling and exchanging such currency.

According to the director of the CFTC, Aitan Goelman "although there is great enthusiasm around Bitcoin and other virtual currencies, innovation should not serve as an excuse for those operating in this context do not meet standards identical to the rest Of participants in commodity derivatives markets. Its regulation carried out by the United States Treasury that included it in the currency category sets a precedent and obliges platforms in charge of buying and selling bitcoins in this North American country to register in some of the markets of raw materials of the country To control it.

An action that could make the transactions with Bitcoins more expensive in the near future, since anonymity allowed them to be cheaper and, indeed, was one of its great attractions. The transactions of Bitcoin are registered publicly, the transactions are pseudonymous, because in principle one does not know to whom it belongs, and that will be so always, no regulation can change that. What actually allows transitions with bitcoins to be more economical is the non-existence of intermediary, third person, but it is a handshake p2p.

My review of Bitcoin

The most popular of the cryptocurrencies continues causing international upheaval by its rapid acceptance and valorization. Eight years ago, bitcoin was one of the decentralized currencies that was used in the deep internet or that attracted the attention of a few experts in the subject. But as it gained space, investors appeared and its ease of use led many to become interested in bitcoin as a way to earn money with high returns.

For five years I started researching the topic and found in the bitcoin an instant business and liquidity alternative. It can be used anywhere in the world. I took the risk when it was $ 200 dollars and today it is quoted at $ 2,502 dollars. In my case, it is an investment that has quintupled.

It all started from a research where he found the Bitxoxo platform as the electronic wallet that aroused me more confidence. And like any business, the only thing I have done so far has been to buy bitcoin when its value goes down and sell them when it starts to rise. It is the only logic and applies just like any other currency, such as the dollar.

As with any business, there are risks around this investment, such as people posing as investor firms to fool the unsuspecting who expect big returns. Therefore, I recommend that if strange people ask for large sums of money and in return for a few days or weeks they promise to return double or triple what they deposited, it is better to be suspicious. Also to those who are not willing to risk their money, it is better that they do not invest, because if they do not want anything to happen, it is better to do nothing and that their money keeps leaving it at home.

The fact is that countries like Australia are reviewing the issue of 'blockchain' to regulate their operation and adapt their economies. Japan became the first country to recognize bitcoin as a means of payment; it all began with an investigation after the hacking of more than 700,000 bitcoins.

Situation of the Bitcoins in India.

Due to the increase that bitcoin has had, with respect to the price, in recent times in India the government has taken the decision to increase the vigilance around the transactions linked with the cryptocurrencies and thus to avoid fraud. According to reports from some of the country's media, the Ministry of Corporate Affairs is inspecting companies dealing with BTC.

The report suggests that it is not only the Bitcoin trading platforms that operate in India, but that all companies in general are under the scanner to identify if they are dealing with the cryptocurrencies at any stage. It is said that the Office of Registry of Companies and Office of Investigation of Serious Fraud is responsible for the responsibility, through a recent communication sent by the Ministry. In the announcement set by the Ministry emphasizes that the government aims to safeguard the public interest and to examine existing global legal structures of digital coins. However, there are groups within the congress that oppose the use of technology Bitcoin, cataloging it as a means used for money laundering and financing Of terrorism. It is noteworthy that these accusations are without foundation before the government of India, since this one has supported and protected Bitcoin for some time.

While recent developments have a similarity with the actions of the People's Bank of China earlier this year, resulting in a freeze of transactions by Bitcoin exchanges for months, Indian trading platforms, possibly not Are facing such a problem. All Indian "Big Four" trading platforms already have KYC frameworks, which require individuals and companies to provide identity, registration, address, and bank documents before making transactions.

Last April the government of India, specifically the Ministry of Finance, had already appointed a committee that would study digital currencies. The results of this investigation were due within three months of the order's designation; however, due to fraud and speculation In the price of BTC (bitcoin), it was decided, with the collaboration of other agencies, to increase the surveillance and control of companies and portfolios that operate with this digital currency.

Bitcoin joins rival politicians from India.

India every day gives more than talk about the theme of digital currency bitcoin, and these months have not been the exception. Certain Indian politicians are urging the government not to legalize Bitcoin. This is happening at the same time that a series of reports say that the cryptocurrency could be regulated in the country in the near future.

Many politicians raised concerns about the possible legalization of Bitcoin by the government of India, announced at a meeting of the Standing Parliamentary Finance Committee, according to a report in a large financial news newspaper in India.

The Finance Ministry of India (FinMin) established an intergovernmental committee to study and investigate the legal frameworks of digital currencies around the world. The committee will finally recommend a course of action for the future regulatory and legal of digital currencies, such as Bitcoin, in India. The government has also invited citizens to comment and discuss virtual currencies in a government portal. The proposition box has been open for a week and closed yesterday, May 31.

Politicians, and also parliamentarians, said that Bitcoin "could become a parallel money instrument for black money laundering and dubious transactions, as well as a source of terrorist financing."

Nevertheless, Bitcoin achieved the feat of uniting to the politicians of the opposition parties that have been related to each other by their disdain towards the currency.

Kirit Somaiya, a member of the ruling party of India, demanded to know the Prime Minister of India whether the virtual currency committee is "properly reporting" on the crypt conversion flipside. Somaiya raised the issue in the Indian Parliament in March, even qualifying Bitcoin as a "pyramid scheme". In April, he clearly demanded that cryptography is declared illegal.

Dinesh Trivedi, a politician affiliated with Congress Party, the traditional rival of BJP, stated during the meeting that "data is the new oil and Bitcoin is the rescue financing platform." In particular, parliamentarians also urged officials of the Ministry of Finance not to legalize cryptography, according to the report. As is the case, Indian authorities are planning a regulatory framework for cryptography, which includes investor taxes.