Is Bitcoin Legal?

bitcoin-legal
2 min read

Bitcoin was born with the purpose of creating a common currency for all the countries of the world, which allows us to exchange goods and services across borders. While it sounds incredible, there is still a long way to go, as there are many countries that have not even spoken about whether Bitcoin is legal in their territories.

Although in Spain you can buy bitcoins easily, the reality is not the same when we look at the situation in other countries, mainly on the African or Asian continents.

Which brings us to the first answer to is Bitcoin legal? It all depends on where you live.

This map shows us the world situation.

mapa-bitcoin-legal

Taking into account 257 countries:

– Bitcoin is legal in 50% of countries.
– Bitcoin is restricted in 3% of countries.
– Bitcoin is illegal in another 3% of countries.
– There are no official opinions in 44% of the countries.

Has the Bitcoin ban stopped buying and selling?

The reality is that it is almost impossible for governments to be efficient when it comes to banning bitcoin since it is very difficult to prohibit them from accessing the internet or trying to determine who owns each transaction executed. For this very reason, many countries have simply opted for deterrence or threat strategies to try to reduce an adoption that will be inevitable.

Fortunately, Spain is a country that has expressed itself in this regard and the legal system says that Bitcoin is a digital asset that can be exchanged for goods and services through an exchange (a contract whereby one thing is delivered in exchange for receiving another).

So buying bitcoins is easy and safe in our country and even easier if you do it through our platform where we offer you the lowest commissions in the market, various means of purchase and 24/7 multilanguage service.