Bitcoin Secures Its Position in Thailand Efficiently

June 4, 2020


Written by: Zemima

Like any other country, now Thailand also confirms the position of bitcoin. But this happened quite unexpectedly or quickly because the people of Thailand were far away from the concept of bitcoin itself. When all other countries were eagerly proceeding to embrace bitcoin use, Thailand was laid back. 

Bitcoin was invented in 2009, and it was used in Thai for the first time in 2014, but since then the number kept on hiking. It reached such a position that Thailand became the second topmost crypto owned country in the world. 

Now millions of people are using cryptocurrencies in Thai with most people using bitcoins majorly. The best thing about Thai was that the government was fully aware of this activity and they did try to make a regulation that will curb the people from using it. But the people of Thailand have fully adopted and embraced the new technology majorly. 

In 2019 it was confirmed by the Thai Securities and Exchange Commission that three types of cryptocurrencies will be allowed to be used in Thai.  But they will not be permitted to use it to pay off their debts. Also surprisingly while in many countries of the USA are still lacking behind to make use of bitcoin as a regular currency. But Thailand has made is easily transactional in day to day life. 

Thailand makes use of bitcoin most, it considers that since bitcoin is a digital currency hence it will be easy to use and it saves a lot of time. Hence people of Thailand like to use bitcoin most, the advantage of using bitcoin is that you stay anonymous. In the world of digital, where every second if something or the other gets stolen so staying anonymous remains very important. 

Although when all the governments are trying to ban cryptos but people are getting closer to bitcoin. 

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