Bitcoin: What, How and Why

If you ask people around if they have heard anything about Bitcoin, then surely everyone will answer: "oh yes, of course." For several years now, cryptocurrencies have been adjusted to religious norms , someone earns a lot of money from them , and entire states do not know how to relate to new technologies.

Nevertheless, what is it, how does it work, and why is it all needed? Why is this better than the existing payment systems and where does the video card? This and not only will be discussed in this article.

Table of contents

• main idea

  
  
  
  
  

• Benefits

  
  
  
  
  

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In the Russian Federation, there is a rather interesting attitude towards Bitcoin. In the summer of 2020, a separate federal law on digital financial assets and digital currency was adopted , which essentially recognizes cryptocurrencies, including Bitcoin, as a means of payment, but prohibits payments with them. Yes, digital currency was brought into a separate category, but it was banned from using it to pay for goods, work or services, and even to report that cryptocurrency can be used as a means of payment. The issue and circulation of cryptocurrency in Russia remains unavailable. You can buy digital currency on foreign sites, but it will have to be declared as property in the Russian tax authorities.