According to a study carried out in 2021 by the consulting firm KPMG, 8% of French people have already invested in cryptocurrencies. A figure that continues to grow and demonstrates that cryptocurrencies and in particular Bitcoin is experiencing real success. Why ?
The Evolution of Bitcoin
Bitcoin (BTC) is the first cryptocurrency to emerge. Created in 2009 by one or more developers under the pseudonym of Satoshi Nakamoto, it remains the most popular virtual currency despite the competition. Indeed, to date there are thousands of cryptocurrencies including Ethereum, Tether, USD Coin or Binance Coin (BNB) and of course Bitcoin.
Bitcoin is an autonomous currency like all other cryptocurrencies. In other words, it does not belong to any central organ as conventional devices do. (euros, dollars, etc.).
Cryptocurrencies are centralized by a computer process called peer-to-peer (P2P), a secure network that uses blockchain technology to keep track of all transactions.
The advantages of bitcoin
One of the major assets of Bitcoin is undoubtedly the freedom it brings to users. As mentioned earlier, Bitcoins operate without a central authority. Thus, each transaction is conducted independently.
Accessible to all, Bitcoin allows secure and confidential transactions with relatively low commissions.
Users can choose a pseudonym, beware some transparency and thus limiting the risk of identity theft.
Bitcoin imposes no time constraints since the market is open 24/7, which give users the option to sell or buy virtual assets in addition to a professional activity, for example.
Is it authorized in France?
Unlike some countries like El Salvador or the Central African Republic, Bitcoin has no legal legal status in France.
According to the website economie.gouv.fr, under French law, cryptocurrencies including Bitcoin are not recognized as financial instruments. As a result, cryptocurrencies are currently unregulated.
So how do you turn bitcoins into euros?
To convert Bitcoins into real money, all you have to do is sell them on an exchange like LiteBit, which offers to transfer your digital assets to an external bank account. Payment is usually made within 3 working days.
LiteBit, cryptocurrency differently
Initiated by LiteBit, two cryptocurrency enthusiasts. In 2017, they decided to create a startup in the but to present an innovative concept that simplifies the world of cryptocurrency, sometimes a little complex especially for beginners.
We offer a wide range of applicable cryptos in the market, which are carefully selected by our experts.
Today, LiteBit offers to invest in more than 70 digital assets and brings together 90 collaborators all over the world. A great development rewarded in 2019 and 2020, with the “Best Crypto Broker” award, which places it as one of the most recognized exchange platforms on the market.