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Due to this, you might be having questions in your mind, such as How To Buy Litecoin In Canada. While we will eventually provide you with information about how to buy such cryptocurrencies, let us first learn some interesting facts about them.
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A Few Interesting Facts You Should Know About Cryptocurrency
If you haven’t heard the word cryptocurrency yet, you have been living under a rock. As the new form of digital currency, cryptocurrency has taken over the world by storm. Due to this, you might be having questions in your mind, such as How To Buy Litecoin In Canada. While we will eventually provide you with information about how to buy such cryptocurrencies, let us first learn some interesting facts about them.
Bitcoin was the first cryptocurrency to be introduced in the market You might have already guessed this as it is the most famous cryptocurrency around. Bitcoin was introduced in the market back in 2009. However, no one knows who introduced it to the world. The identity of the person who introduced Bitcoin to the world, Satoshi Nakamoto, is unknown. No one knows if this is a person or group of people as they have only communicated with the world through emails and forums.
Unique things set cryptocurrency apart from other currencies The first thing that sets it apart from other currencies is that it does not exist in the physical form. It only exists in the digital form. Another thing that sets it apart is that it is a decentralized form of trading. It means that no bank or financial institution owns the cryptocurrency markets. Instead, it is owned by the people who are trading on it and no one else. One more unique thing that sets Bitcoin apart from other forms of currency available in the market is that Bitcoin has a limited number of coins available in circulation. Only 21 million Bitcoins will be circulated in its entire lifetime.
Cryptocurrency can never be banned While different governments might have their objection to cryptocurrency, they can never completely ban it. It is because, as mentioned before, they do not control the trading system of cryptocurrency. So anyone can have access to a cryptocurrency wallet. What governments can do is introduce regulations. They can also not allow people to use cryptocurrency as a form of currency with established institutions. However, a complete ban can’t be imposed.
Cryptocurrency is taxable It might come as a surprise to you, but cryptocurrency is taxable by certain governments across the world. Many countries expect you to pay tax on the profits you have made trading in the crypto market. So you should check if your particular country expects you to pay tax on your earnings and profits.
What should you do next? Now that you know interesting facts about cryptocurrency, it is time for you to learn How to Buy Ethereum in Canada and other such cryptocurrencies. The process is simple. The first thing you need to do is find a reliable exchange such as Netcoins. Since you will be investing your money, you need to know that it is in safe hands. Then, you need to register a profile on the platform and get your account verified. After that, you need to transfer money to the wallet and begin your journey of trading. Source Credit: https://netcoinscanada.wordpress.com/2021/06/17/a-few-interesting-facts-you-should-know-about-cryptocurrency/
