- You must be knowing about cryptocurrencies or digital money by now. Many big companies are adopting them. Not only this, but some countries have even made a few of the cryptocurrencies legal –either fully or partially. However, there are many countries that have banned the use of cryptocurrencies. Some are even changing their stance and developing a friendly attitude towards cryptocurrencies. But, which are the ones that are partially or fully legal in the world?
- If you want to know more about the partially or fully legal cryptocurrencies in the world, we suggest you don’t put down your device and keep doing what you were doing – reading.
- In this blog post, we will be covering the partially or fully legal cryptocurrencies in the world.
List of the Partially or Fully Legal Cryptocurrencies in the World.
Here’s the list:
1) Bitcoin –
- The first name on our list of partially or fully legal cryptocurrencies in the world is Bitcoin. With many countries accepting it, this decentralized digital currency allows it to be transacted between one peer to another without having to pass through intermediaries. Bitcoin transactions are supported by blockchain technology. Bitcoin first started to be used in 2009. A process called mining generates Bitcoin. If you want, you can exchange Bitcoin for other currencies, products, or services. There have been illegal transactions using Bitcoin but that seems to have a minimum impact on its popularity.
2) Ethereum –
- Ethereum is another cryptocurrency that has been made legal in many countries. This is actually a decentralized open-source platform and has an important functionality – smart contract. In 2015, Ethereum saw the light of the day. It has an exclusive token named Ether. You can buy other cryptocurrencies using Ether. The presale of Ether that was conducted in 2014 introduced the concept of ICOs. Ethereum now runs on less energy thus making it one of the most environment-friendly cryptocurrencies in the world.
3) Litecoin –
- This partially legal cryptocurrency came into existence in 2011. Countries like South Korea, Canada, and Australia have a positive attitude to Litecoin. England also treats Litecoin specially and has implemented VAT on shopping with the help of Litecoin. It is often referred to as the “silver to Bitcoin’s gold”. The transaction confirmation time that Litecoin offers is faster than cryptocurrencies like Bitcoin because it has a faster block generation rate.
4) Cardano (ADA) –
- This “Ouroboros proof-of-stake” cryptocurrency is the next name on our list of the partially and fully legal cryptocurrencies in the world. The people who created Cardano (ADO) were engineers, mathematicians, and cryptography experts with an eye on the research. Its blockchain was also created after thorough research. It is, however, still in a nascent stage as compared to other cryptocurrencies.
5) Stellar –
- Stellar is the next name on our list of the partially and fully legal cryptocurrencies in the world. A national ministry of Ukraine has announced a partnership with Stellar to build the country’s digital infrastructure as of 2021. Stellar is an open blockchain network that acts as a bridge between financial institutions for completing big transactions. The native currency of Stellar is Lumens (XLM).
6) Binance Coin –
- This is a utility cryptocurrency that can be used for paying trading-related fees on the Binance Exchange. This is a partially legal cryptocurrency as it is currently going through an investigation in the US following allegations of tax offenses and money laundering. It is banned in many other countries. It initially operated on the Ethereum Blockchain but now makes use of the PoS consensus model. The blockchain of Binance Coin also supports the decentralized exchange of Binance.
7) Tether (USDT) –
- The last name on our list of the partially and fully legal cryptocurrencies in the world is Tether. It is often referred to as a stablecoin. Tether’s price is directly connected to the price of the US dollar. Tether was launched in 2014 and claims itself as a blockchain-enabled platform. As far as market capitalization is concerned, Tether is the fifth-largest cryptocurrency.
- These were the partially and fully legal cryptocurrencies in the world right now. If you use any of the above cryptocurrencies, ensure you conduct thorough research before taking the plunge. Also, remember, if you are investing, you will have to take into consideration the market risks that are involved.