Best Bitcoin Card for Austria
Bitcoin is the first and now also the most important decentralized currency in the world, which can only be found digitally. There is no central office in Bitcoin that administers or issues the money. Thus Bitcoins are a thorn in the side of the central banks and some states. Known accusations against Bitcoins or other crypto currencies are, for example, that these terror or other illegal activities can be optimally financed.
Bitcoins are created and managed decentrally by a computer network (Bitcoin Mining). At the same time, the network is also the payment system in which the transfers are carried out and documented. Fans of Bitcoins see the Bitcoins as the money or currency of the Internet.
Too long, didn’t read? It is worth reading the whole article about crypto currencies, warnings, courses and the subject of taxes. If it’s just a matter of buying cryptos like Bitcoins from a trustworthy Austrian company as quickly and easily as possible, you will receive these two tips. More and perhaps even better tips can be read below! It is worth it. Definitely!
If you deal with crypto currencies, consider the following:
Warning of the Financial Market Authority, OeNB and the European Banking Authority (EBA) on crypto currencies
There are advocates and warners when it comes to crypto currencies. Some crypto currencies are intransparent and you should beware of them. Others are more established and more popular and have a high level of transparency, such as Bitcoin. The criticism of supervisors such as FMA, OeNB or EBA is far-reaching and someone who puts his money into crypto currencies should be aware that it is not without risk. What are the risks according to FMA, OeNB and EBA?
- Strong fluctuations in the price of crypto currencies
- Trading platforms are not regulated
- Trading platforms are not subject to supervision
- Wallets can be chopped and emptied
- No special legal protection when using Bitcoins
- Anonymity of use can result in criminal abuse
Critics of this criticism argue that these bodies would naturally have an interest in hiding or warning against the advantages of crypto currencies, as they see the traditional system threatened. Everyone has to come to the conclusion for himself whether crypto currencies are something for him or not.
Optioment: Warning on the FMA website
Austria’s Financial Market Authority (FMA) announces on its website on 31 January 2018 that, on the basis of numerous complaints regarding “Optioment”, it has submitted a statement of facts to the Public Prosecutor’s Office in Vienna to examine the content of these complaints. The website has been unavailable for a few days now and for some time now there have been rumors on the Internet about the company, which already then did not have a proper imprint and promised the blue sky. It doesn’t look good in any case and you definitely have to watch out in this crypto market! At the moment it looks as if Optioment is a criminal case, but of course the presumption of innocence always applies.
Current developments on crypto currencies
Until the turn of the year 2018, the world of crypto currencies was still really okay, but since we write the year 2018, the glamour is gone and we have seen really violent price reactions from Bitcoin & Co. It went down and we now see courses that we know from summer and early autumn 2017 – but some dreamed that things would continue to go steeply uphill. But these were probably knights of fortune and the truth is a current Bitcoin exchange rate in US dollars of around 8,000 USD. Forgotten are the rates of mid-December of the legendary 20,000 US dollars. Then it was a bubble! After this high it went now downhill since January 2018 was for the Bitcoin and for the other crypto currencies so far a pure caesura. What has happened? It seems as if the air is outside and a year later, December 2018 so much is gone – the Bitcoin exchange rate is below 3,000 Euros. Many late-decided people have probably suffered drastic losses. Get out now, top up or just wait for higher prices? Nobody knows how things will continue, but the euphoria of crypto currencies is definitely gone.
Bitcoin Mining – does it pay off in Austria?
Anyone can operate Bitcoin Mining, simply “mine” their own Bitcoins with their own PC. BUT and now it comes, because mining has become more and more difficult in the last few years and the energy required for this has made mining Bitcoins in Austria inefficient and expensive. It now requires special hardware and cheap electricity. Austria is not exactly known for producing these. Rules of thumb say to the fact that the production of the kilowatt hours may not cost more than 0,005 to 0,10 euro. Even with your own PV system, this is more than difficult. Additionally one may not forget that it comes also to course fluctuations and which today still lucrativ in prospecting appears, can be tomorrow by a course fall a loss business. If the Mining does not disburse itself for Bitcoins, it could be however that the Mining for alternative Kryptowhrungen such as LiteCoin or Bytecoin would count itself.