Bitcoin in Bangladesh
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Today, the topic I want to discuss is bitcoin in bangladesh.
In 2008, the concept of virtual currency appeared for the first time. Coins invented by a software scientist came to be known as cryptocurrencies. Bitcoin is believed to have been created in 2008 by a man named Satoshi Nakamoto. This Bitcoin is the first cryptocurrency. Its commercial transactions started from 2010. Although some other virtual coins were invented later, no one could surpass Bitcoin. Bitcoin is traded peer-to-peer through an open-source cryptographic protocol. For this reason, transactions do not require any kind of financial institutions or regulatory institutions. Such currency can be exchanged anonymously. Transaction information is secured through the blockchain network. Selling bitcoins can be accepted in conventional terms.
And this is why the use of Bitcoin is increasing day by day. Bitcoin is currently recognized as legal in many countries around the world, including the United States, Canada, and Europe. Countries like France, Spain, UK and Japan consider Bitcoin transactions legal. Bitcoin is still illegal in many countries like Bangladesh, Egypt, Morocco, etc. In December 2017, Bangladesh Bank, the regulatory institution of Bangladesh's banking sector, published an information about this. Where said there is no valid recognition of virtual currency in the country. But why this ban?
The main reason for this is the unstable market of Bitcoin. Market risk is very high due to rising market prices. Let's give an example. Elon Musk will accept Bitcoin as a means of payment from Tesla buyers. Following the announcement, Bitcoin's acceptance skyrocketed, with the currency rising to close to $64,000. That was its highest price but its market price fell by 40 percent in just a few days. However, there is no less talk about cryptocurrency in Bangladesh. Many are investing in it.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
Nice article you have shared here friend, indeed it's good to see people actively investing in bitcoin in bangladesh, that's very good to see. Thanks for informing us about this.
Thank you too