Why Bitcoin And Other CryptoCurrencies Are Ban/illegal In Most Countries?


Bitcoin is a cryptocurrency also known as a digital currency. In recent times, Bitcoin and cryptocurrency have become popular among people. Many people who invest in Bitcoin say it is going to be the future. We are going to do the transaction through cryptocurrencies and so forth. But recently, countries like China, Nepal, Bangladesh, Vietnam, Russia, and others have banned cryptocurrency, especially Bitcoin. In these countries transaction through Bitcoin or Investment on Bitcoin and other cryptocurrencies is illegal. But, why? Why Did these Countries Ban Bitcoin?

Why Bitcoin Is Ban In Most Countries?

The most common reason these countries have banned Bitcoin are:

Bitcoin is Ban Because It valuation Increase And Decrease Frequently

Bitcoin has become a trade. Many people buy Bitcoin for trading. When the Bitcoin value increases, trading becomes successful, and when its value falls, they lose lots of money. Since Bitcoin valuation is not stable, it is difficult for many countries to legalize Bitcoin as a transaction mode.




Bitcoin is Ban Because It is Decentralized Currency

Bitcoin is a decentralized currency. Since it is a decentralized currency, no one can track for what purpose Bitcoin is used. Our national currency is controlled by the government. They can track your online transaction through banks. But, they cannot track your transaction through Bitcoin.


 

Bitcoin is Ban Because It is used For Doing Illegal Works

You might have heard about El Salvador Country, where Bitcoin has become a legal tender, right. But, do you know that in El Salvador, criminal activities are a common thing.
Nowadays, many cyber crimes transaction are done using Bitcoin. Many illegal workers use Bitcoin and other cryptocurrencies as a payment source. Why? Because it is decentralized. No one can track it. That's why many criminals use Bitcoin. And the thing is most criminal activities transactions are done through cryptocurrency, and Bitcoin helps those criminals to do the crime without any fear of government. To stop these crimes, Bitcoin is illegal in lots of countries. 



 In conclusion, Many countries have made Bitcoin illegal to stop cybercrime and criminal activity because Bitcoin is mostly being used for doing criminal activities in the current time.



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