Can Businesses Transact Cryptocurrencies?

Since the launch of Bitcoin, cryptocurrencies have been on everyone's lips. Bitcoin has indeed made small and today, there are dozens of different crypto, more or less interesting for investors, but also as an exchange currency. The legal vagueness surrounding the use of cryptocurrencies is moreover as much an argument in their favor as a constraint. Let's see together if companies and individuals can transact in cryptocurrencies.

Is performing cryptocurrency transactions legal for businesses?

Among the most famous cryptocurrencies, we can mention Bitcoin, Ethereum or Litecoin. These decentralized currencies, which are not issued by any central bank and are therefore not under the control of any government or state, are enjoying growing popularity with the population. We've all heard of cryptocurrency and how volatile it is, but is it legal for businesses and individuals to transact in cryptocurrencies today.

The answer to this question is yes! Many large luxury brands, such as certain hotels, restaurants or other establishments open to the public, have also announced that they accept cryptocurrencies as a means of payment. On the other hand, it should be understood that according to the regulations of the European Central Bank, they are not considered as currencies and that therefore, in theory, your transactions, in particular with platforms like Bitiq, can be blocked.

Cryptocurrencies, tools at the service of business capitalization

Yet the sense of history seems particularly favorable to the inclusion of cryptocurrencies in the global monetary system. As in linguistics, usage often has the force of law in matters of economy and the growing number of users of these digital currencies shows that they are perfectly adapted to our connected era. It is not for nothing that many large banks have decided to invest in cryptocurrencies.

For both individuals and companies, the primary interest is not to carry out transactions in cryptocurrencies, but to use their investment possibilities. The value of Bitcoin has exploded in less than 10 years and the curve continues to rise despite some bumps. By placing part of your capital using safe trading applications like, you can reasonably expect a juicy return on investment.

The future of cryptocurrencies

We often forget that cryptocurrencies are extremely young tools. The first Bitcoin was mined in 2008! The appropriation of cryptocurrencies by the public, companies and individuals, presents all the characteristics of a point of no return. We can be sure that cryptocurrencies will not disappear anymore, only the question of their evolution arises.

If today, Bitcoin and consorts are primarily tools at the service of investor speculation, it's a safe bet that carrying out transactions in cryptocurrencies will be as usual tomorrow as taking euros out of your wallet. Witness the announcements of a businessman as emblematic of our time as the sulphurous Elon Musk, who affirmed, before retracting, that his company Tesla would now accept payment in Bitcoins!

Recommended For You

About the Author: Roben

Leave a Reply

Your email address will not be published. Required fields are marked *