According to a 2021 study by consulting firm KPMG, 8% of French people have already invested in cryptocurrencies. A number that continues to rise and demonstrates that cryptocurrencies, and Bitcoin in particular, are experiencing real success. Why ?
Evolution of Bitcoin
Bitcoin (BTC) is the first cryptocurrency to appear. Created in 2009 by one or more developers under the pseudonym Satoshi Nakamoto, it remains the most popular virtual currency despite the competition. Indeed, there are thousands of cryptocurrencies today, 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 authority like conventional currencies. (euro, dollars, etc.).
Cryptocurrencies are centralized by a computer process called peer-to-peer (P2P), a secure network that uses blockchain technology to track all transactions.
Benefits of Bitcoin
One of the main advantages of Bitcoin is undoubtedly the freedom it gives users. As mentioned earlier, bitcoins operate without a central authority. Thus, each transaction is conducted independently.
Available to everyone, Bitcoin provides secure and private transactions with relatively low fees.
Users can choose an alias, ensuring some transparency and thus limit the risk of identity theft.
Bitcoin has no time limit as the market is open 24/7, which gives users the opportunity for example, for the sale or purchase of virtual assets prior to professional activity.
Is it allowed in France?
Unlike some countries such as El Salvador or the Central African Republic, Bitcoin does not have legal status in France.
According to economie.gouv.fr, under French law, cryptocurrencies, including bitcoin, are not recognized as financial instruments. As a result, cryptocurrencies are not currently regulated.
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 business days.
LiteBit, cryptocurrency in a different way
Initiated by LiteBit, two cryptocurrency enthusiasts. In 2017, they decided to create a startup with the goal of presenting an innovative concept that simplifies the sometimes complex world of cryptocurrency, especially for beginners.
We offer a wide range of relevant cryptocurrencies on the market, which are carefully selected by our experts.
Today, LiteBit offers investments in over 70 digital assets and brings together 90 employees worldwide. An excellent development, awarded in 2019 and 2020 as the “Best Crypto Broker” award, making it one of the most recognized exchange platforms on the market.