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Bitcoin price (BTC)
Bitcoin is undoubtedly the largest digital currency that has revolutionized the financial sector by introducing an independent, decentralized transaction network. High fluency, market capitalization and devoted community make the exchange of BTC/EUR a perfect investment alternative for securities.
Although the Bitcoin/Euro pair volume is much lower than the American counterpart, the BTC/EUR exchange trading is steadily growing. This is mainly due to the increasing number of citizens of the European Union interested in cryptocurrencies. Long before the emergence of the first exchanges supporting transactions in Euro, the first users made purchases on the Bitcoin Talk forum, setting rates individually. The exchange of Euro for Bitcoin and inversely currently represents around 4-5% of the global volume of transactions with BTC.
The Euro is the official currency of the European Union, which was adopted by 19 of the 28 Member States forming the so-called Euro Zone: Austria, Belgium, Cyprus, Estonia, Finland, France, Greece, Spain, the Netherlands, Ireland, Lithuania, Luxembourg, Latvia, Malta, Germany, Portugal, Slovakia, Slovenia and Italy. Both countries with high and low GDP have an active participation in the exchange of currency FIAT for Bitcoin and vice versa - only motivations differ, which consistently co-create the cryptocurrency market.
First online bitcoin exchanges serving a pair of Euro/BTC appeared on 2011, paving the route for transactions in the EU currency. These platforms continue their activities, taking pioneer steps in the development of the European cryptocurrency market. One of the first was Bitstamp, which on 2016 obtained a license from a payment institution from Luxembourg, becoming the first "official" Bitcoin exchange in the European Union. It was a huge step in the process of popularizing Euro/Bitcoin exchanges.
The biggest challenge for the EU is appropriate sanctioning of cryptocurrencies and regulation of their use. Due to the relatively anonymous transactions of digital currency, the European Parliament is struggling with money laundering and tax evasion. Ultimately, Bitcoin is to act as an independent currency and be subject to Eurocontrol by the authorities to ensure that the cryptocurrency is used to conclude legal transactions both independently and in a BTC/EUR pair. The European Union is financing numerous projects investigating the connection between blockchain technology and cybercrime. In the face of the growing popularity of the so-called Privacy Coins, guaranteeing encrypted and anonymous transactions in the block chain.
Despite the guidelines issued by the European Commission, European Union Member States retain a considerable degree of autonomy in the field of cryptocurrencies. The decisions belong to the local authorities, which makes the selected countries faster to adopt bitcoin exchanges, while others stay behind. At the moment, Bitcoin is legal in every country of the Member States. It is not prohibited to trade or exchange, and differences between countries are primarily based on the taxation of revenues from transactions using digital currencies. Selected countries dont have any rules regarding cryptocurrencies yet.
German law defines Bitcoin as "private money", which means that it is neither foreign currency nor electronic money, which makes it taxable. Although Slovenia doesnt provide a tax on capital gains on the Bitcoin exchange, but it imposes tax on the extraction of cryptocurrencies. Companies selling goods or services in exchange for Bitcoins are also taxable. Interestingly, Spanish legislation treats transactions of BTC as barter transactions, devoting them a separate legislative entry.
Wordpress was very important when Bitcoin was introduced to the global market. Unlike the services provided by PayPal, Bitcoin is global. Wordpress noticed the business and PR opportunities in the introduction of fees in the digital currency. By accepting payments in BTC, one of the most popular domains in the network has opened up to over 60 potential countries, and clients from all over the world.
An unquestionable milestone was the agreement signed by the Cypriot Government and the European Union to save the country's finances from 2013. A one-time fee of 6.75 to 9.99% for saving the state budget was to disappear from Cypriot bank accounts. At the time of making this information public, people started looking for a way to save their finances. A large part of those with funds in Cypriot banks decided to buy Bitcoins.
Another important news that increased interest in digital currency was the announcement by Dell on July 2014 that dell.com accepts payments in Bitcoins. Thanks to this event, more and more enterprises have begun to take this form of payment, including Microsoft. on April 2016, Steam joined them. The platform began accepting fees for games and other media at BTC. This has once again strengthened Bitcoin's position on the stock exchange.
Since August 2017, BTC has twice passed a hard fork, resulting in Bitcoin Cash and Bitcoin Gold. The creation of the BTC/Euro exchange was an important step, at the moment the most important is its development and careful observation of changes - market and legal.
On January 2018, the market value of Bitcoin amounted to 190,258,548.559 EUR.