Argentine Mayor planned to receive taxes in bitcoin

[Flow-er]

The use of Bitcoin is gaining momentum everyday as so many people are actually delving into the use of the Bitcoin for so many reasons. The reason why they are using it in large amount is because they knew the advantages that is in Bitcoin adoption. The advantages of the Bitcoin cannot be overemphasized because it could be used as an instrument four economic growth.

So many people have used the bitcoin to process different transactions. Some would use it as a means of payment for the purchase of his products and services. Some countries adopted it as a legal tender because they knew that the digital currency is promising. We have seen several States use the Bitcoin for tax collection. This is because this particular cryptocurrency uses the blockchain and it will eliminate the third-party which will bring about easy transaction in the payment of taxes.

An Argentine mayor actually decided to venture into cryptocurrency by planning to make laws that will allow the citizens to pay taxes in bitcoin. Mayor Horacio Rodriguez Larreta of Buenos Aires stated that is making moves to collect taxes in Bitcoin. This is make the payment of taxes to be very easy for the citizens

 

[Lens1000]

The traction that cryptocurrency has gained in the financial market is very high and as a result of this, we have seen many involvement in the cryptocurrency world and so many people are trying to involve themselves in cryptocurrency investment. However , this is not limited to people in all countries and states are also trying to involve themselves in cryptocurrency investment indirectly. Some of these countries received taxes in cryptocurrency just to move themselves into crypto currency investment and also have funds stored in cryptocurrency for future gains and basically understandable because when you keep your cryptocurrency for a very long time it is every possibility that you would make folds of the money that you have invested. In the amount of cryptocurrency funds that you have in your wallet will determine the amount that you will make in the future and that is what people actually after. The move that was taken by the mayor of Argentina is in very good one because it is one of the ways to increase your portfolio in cryptocurrency. It will also allow their citizens to pay taxes easily because cryptocurrency is very easy to access and it is also very easy to process transactions that is self executed because you do not need the third-party interference.

 

[uptrendfinancialsignal]

Bitcoin has increased tremendously following its trajectory and I'm very sure that satoshi nakamoto who was the creator of Bitcoin never knew that this particular cryptocurrency is going to skyrocket to this stage . Bitcoin was a very wonderful project and it paved the way for so many other cryptocurrency as well . The Bitcoin application has been used in so many platform because it's blockchain technology has also extended into so many other areas where people use blockchain technology to do so many things and the Argentine government using bitcoin as tax is a very good move because it is going to cause a significant spike in the price of Bitcoin if the demand goes up

 

[Lens1000]

The move by the Argentine mayor to accept taxes in cryptocurrency is a very promising and it is going to affect cryptocurrency community greatly . This will make the demand for cryptocurrency to increase and if such thing happen, it will definitely cause a spike in the price of cryptocurrency and the cryptocurrency community would enjoy it . There are so many other countries who are planning to use bitcoin as a means of receiving payment in taxes and it will be a sort of encouragement for people who are bitcoin enthusiast because it will make the price to go up.

 

[Suba]

The use of cryptocurrency/Bitcoin is increasingly widespread everywhere, even some countries have recognized Bitcoin as legal tender,
Likewise, the Mayor of Buenos Aires officially provides a tax payment method using Bitcoin, which is welcomed by crypto users in the city.

Even so, the Mayor of Buenos Aires Horacio Rodriguez Larreta said the government would still keep funds in cash in flat currency (Argentinian Pesos), not in Bitcoin. The acceptance of Bitcoin as a means of paying taxes is only a convenience for cryptocurrency users.

The government/mayor of Buenos Aires has entered into contract agreements with several crypto wallet providers such as: Buenbit, Ripio, SatoshiTango, Belo Exchanger. So that in the end the government will still receive funds in the form of fiat money.