Setting up for bitcoin trading
If you are considering any kind of involvement with bitcoin or another cryptocurrency, you should start by exploring your country’s legal requirements and a number of other aspects:
Check whether or notSetting up for bitcoin trading
If you are considering any kind of involvement with bitcoin or another cryptocurrency, you should start by exploring your country’s legal requirements and a number of other aspects:
Check whether or not your business idea requires a licence. A 'BitLicence' is a new term for a business licence for virtual currency activities.
Find out whether a bank account is required for your digital business. If so, you need to gauge your bank’s attitude towards digital currency businesses. This will greatly depend on the legal regulation of this area in your country, as the bank is unlikely to be willing to jeopardise its reputation because of your digital business idea.
Fees and other costs are extremely important to your business. Unlike simply trading with bitcoins, which enjoys relatively small fees, setting up a bitcoin business might require additional costs related to licensing and other registrations as well as permits from the state. your business idea requires a licence. A 'BitLicence' is a new term for a business licence for virtual currency activities.
Find out whether a bank account is required for your digital business. If so, you need to gauge your bank’s attitude towards digital currency businesses. This will greatly depend on the legal regulation of this area in your country, as the bank is unlikely to be willing to jeopardise its reputation because of your digital business idea.
Fees and other costs are extremely important to your business. Unlike simply trading with bitcoins, which enjoys relatively small fees, setting up a bitcoin business might require additional costs related to licensing and other registrations as well as permits from the state.