The use of bitcoin, which weakens the ability of countries to maintain their local currency and control the movement, stability, and viability of cash circulation in tightening the control, as well as negatively affecting Seen on fiscal policy states, the size of the expected tax revenues, while opening the way for tax evasion.
1- That dealing in this currency by buying or selling and owning it needs highly protected encryption, with the need to make backup copies of it in order to maintain it from piracy operations and electronic attacks to decode, prevent it from being lost, exposure to theft practices, or damage it through infection with the virus, It makes them unavailable for easy and easy circulation between the general public, as is the case with regard to the currencies that are required to be popular between public and private.Bitcoin investments software is easy way to make money.
2- It is not recommended as a safe investment, as it is a high-risk investment type, as it is dealt with on the basis of speculation that aims to achieve extraordinary profits through trading in sale or purchase, which makes its environment witnessing strong unjustified ups and downs, as well as sites Which represent records of records or accounts books of movement in dealing in this currency by buying or selling unsafe after; because of its downfall by penetration operations and piracy attacks that take advantage of the presence of many weaknesses in its trading operations or in its digital portfolios, which caused great financial losses.
3- That the responsibility of the error is borne by the same person towards others, and may lead to the loss of the capital in full, but it is not possible to recover anything from the lost amounts due to this often, unlike the banking customs and traditions used in protecting the customer by means of electronic payment that makes the banks – at the disagreement with the investor We are keen to resolve this dispute in a manner that preserves its banking reputation.
4- It has a significant negative impact on the legal protection of its dealers from overtaking, transgressing or defaulting brokers in disclosing the details of those operations and those involved in them, and facilitating the sale of contraband and money laundering through these intermediaries; most companies that engage in e-currency trading activity operate under the cover Other activities, because this transaction is not permitted in many countries. Therefore, this virtual currency cannot be considered a reliable medium in the transactions of people and their living matters, because it has lost the conditions that are considered in money and currencies, as it has been subjected to the imbalance that P regarded as a commodity or currency; such as lack of money exponentially vogue, and lack of suitability for adoption of them; as a race of races that take the prices dominant in the process of “standardization”
This type of currency is also differentiated from electronic means of payment – credit cards and direct debit cards – by not linking with credit or debit bank accounts, and it is based on a separate basis from the approved monetary system in most countries of the world, and that its value is determined based on the size of speculations, and people’s acceptance To trade and deal with this currency as a substitute for ordinary money in order to seek to benefit from its advantages, as the customer is not fined any fees or expenses on transfer operations, nor is he subject to any restrictions or control, in addition to the difficulty of freezing or confiscating it.
Know how to use Cryptocurrency wallets
- Cryptocurrency wallets that allow you to make cheap and instant payments with ETH or other assets
- Financial applications that allow you to give or receive a loan, or invest your digital assets
- Decentralized markets that allow you to trade with digital assets, or even make transactions with “predictions” about real-world events
- Games where you have in-game assets and you can even win real money and much, much more.
So using Cryptocurrency wallets one can use the bitcoin in different ways. Using Cryptocurrency wallets you can do different type of transactions and can make money easily.
