Is Bitcoin Mining Legal?
The legalization of Bitcoin is subject of matter to each country’s norms and regulations. In some countries, such as the USA, UK, and Canada, bitcoin mining is legal. While on the other hand, there are many other countries where bitcoin is illegal, such as Bangladesh, Egypt, Morroco, Nepal, Qatar, and China. However, many countries haven’t cleared their stand on bitcoin mining. Also, even though it’s legal in the US, there are many states in the USA where Bitcoin mining is still illegal.
What is bitcoin mining? How does it work?
Cryptocurrencies are one of the most advanced pieces of technology, attracting investors throughout the globe. Among these cryptocurrencies, Bitcoin is one of the most popular ones. It’s a simple digital currency that works on a decentralized network and doesn’t involve any financial institution or government. Bitcoin turned out to be quite profitable for many people. However, investing in bitcoin has many downsides, too, like its prices are very volatile, and still, it’s not accepted as a currency in most parts of the world.